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Thread: Trading Journal Of A Pro Trader. Must Read Case Study!

      
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    Default Trading Journal Of A Pro Trader. Must Read Case Study!

    Over the next days, weeks and months, I will be documenting my trades live on this specific thread. This will involve showing all the positions, with a few minutes of the trade being executed on my trading account (not after the trade has occurred and banked "profit" like many other so called traders). You will receive a time stamp to confirm the trade. This will show the entry, stop and target levels.

    If you are interested in following me on this journey, I could also provide trading setups. The aim of this thread is be as transparent as possible with the live journal from myself, a professional trader since 2004. As a former hedge fund trader, working from 7am to sometimes 10pm, you can get to a point where there is no balance in your life. I will also touch on the psychological impact that trading has on the strongest of minds, and how I deal with this.

    Win, loss or breakeven, there will be no holds barred. Contrary to popular belief, there is no 100% winning strategy.

    This will be an opportunity for people to critique, comment or ask questions about the strategy, that has made me a lot of money. Most importantly, aid in your learning curve as a new/existing trader, where I reveal the trials and tribulations that I go through.

    Note: the strategies revealed are methods based on my personal experience.

    Follow me on this road!

    Click on like to be updated on my progression.

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    Show Me The Money! McGrath's Avatar
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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    This is a great idea - could you tell us more about your methods for entry what triggers you use to get into trades? Im sure we'll see when and where you enter but whats the mindset for entering. I know ideally we buy the dip and sell the high?rally but i have a hard time gauging where that is exactly. I know we cant consult the Oracle at Delphi for the best entries but what is the next best thing?


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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    [QUOTE=Kenfinance;98762]Over the next days, weeks and months, I will be documenting my trades live on this specific thread. This will involve showing all the positions, with a few minutes of the trade being executed on my trading account (not after the trade has occurred and banked "profit" like many other so called traders). You will receive a time stamp to confirm the trade. This will show the entry, stop and target levels.

    Ok good on you, you've started a thread.Whilst i agree there are a lot of hindsight traders, there are also traders that trade the longer term charts. Whilst i perceive that to be an attack on me, the simple fact is that being in London, 99% of my entries into the mkt, are via pending orders, since i trade off the daily.I place orders around 10pm GMT, if an order has trigered the next day,i post it, win lose or draw.If in profit, i will always close some, i want to be paid for taking risk.
    If you had bothered to look, you would have known i'm not a newbie, spent 15+ yrs a an interbank broker.
    But whatever. We were in agreement about the losing trade going long on eur/usd.
    I will watch this thread with interest. I am always open to learning.
    Nothing personal, but when a newbie shows up, without the slightest bit of credibilty, without even posting a chart, then alarm bells ring.
    I have no doubt that at some point in the future, a commercial service will be promoted, as is usually the way.
    Each to their own. Good luck with the thread, what hedgefund did you work at, by the way?
    I know some people in Vienna, brokers mainly, Vibs etc. I also used to transact buiness for UBS.
    Dislikes Grekko, FXScannerDarkly, ACE disliked this post

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Hi FF members,

    Quick update Click image for larger version. 

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    Attached is the trade that I have entered short on the EUR/USD.

    Entry short 1,3133
    Stop 1,3212
    Target 1,3105

    On the next post, I will discuss, my reasoning behind the entry, stop and management of the position.

    Please feel free to ask questions, make comments, likes, dislikes All part of the education.

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Trading Journal of a Pro Trader - Fibonacci Retracement Part 1

    Please find attached a video showing the strategy setup, management of the trade and why I set one target instead of multiple levels. Please check the screenshot from my earlier post, to see proof of the entry and stop level.

    The aim of this case study is to be completely transparent, regarding my results. Hopefully this will put more fire in your belly, and show you that there is a way to make profits in the market, on a consistent basis.



    Keep an eye out for the next post.

    Cheers,

    Ken

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Man if you can whip me into a better trader I'll share my winnings with you!!!

    I've been struggling on and off for years now

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Quote Originally Posted by JavyYayo View Post
    Man if you can whip me into a better trader I'll share my winnings with you!!!

    I've been struggling on and off for years now
    JavyYayo thanks for your comment.

    The main aim of this case study, is to share my trading ideas, not just after the trade has occurred but prior, during and after the position. Unfortunately there is a vast number of so called Guru traders who state that they have 100% winning systems. After being involved in the market since 2004, you realise this does not exist. So trading professionally I wanted to document and provide my trading setups, entries, exits in the form of screenshots, just after I have entered the trade, then a video showing the step by step trade development.

    JavyYayo you are not the only person that is struggling with devising a plan that can consistently work over a period of time. In my early trading years, I had a mentor, that taught me about the importance of psychology and how we deal with emotions. This helped me greatly when I then ventured into the markets trading my own and client funds.

    If you only learn 1% of the case study material, I am confident that it will assist your trading.

    I would recommend you to save all the screenshots and videos that I will posting over the next few week/months into a seperate folder. Then spend some time in digesting the information.

    Watch out for the next trading setup and also informative trading material from my own perspective.

    Happy trading!

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Trading Journal of a Pro Trader - Trading Setup Part 2

    Hi Guys,

    Attached is the next trade setup which I entered on the EUR/USD.

    Entry Short: 1,3220
    Buy Stop: 1,3293
    1st Target: 1,3190 - (cover half of lot size and stop to breakeven)
    2nd Target: 1,3170

    Click image for larger version. 

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    I will be in touch shortly with a video showing the results (win, loss or breakeven) and an explanation behind why I entered the trade.

    Ken

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Trading Journal of a Pro Trader - Price Action and Fibonacci Part 2

    Hi Guys,

    Please find below a video related to the earlier trade I entered yesterday (9th March, please see the screenshot above).



    Or you can go to http://www.smartforexeducation.com/v...bepress_page=2

    From this trade, I made 50 pips profit. The essential things to take from this video is the importance of preparation. If I did not have the Fib levels drawn in on the daily chart from the 8th March and conducted good due diligence regarding the price action, there would of been no chance of entering the trade.

    During the next few post (between) the trading setups, I will be sharing more content and valuable educational information related to preparation techniques and discipline.

    If you have any questions or comments feel free to post.

    Have a nice weekend.

    Ken

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    I'm all ears on hearing how you trade.

    Keep us informed.


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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Trading Journal of a Pro Trader - Trading Setup Part 3

    Hi FF Members,

    Another day, another trade!

    Please find attached a transparent screenshot, showing the entry and stop levels: Click image for larger version. 

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    EUR/USD
    Entry Long 1,3121
    Sell Stop 1,3076
    1st Target 1,3145 (cover half of lot size and the stop to breakeven)
    2nd Target 1,3160

    Will be in touch shortly with the results.

    Happy trading and stay positive!

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Quote Originally Posted by TopTrader View Post
    I'm all ears on hearing how you trade.

    Keep us informed.

    Great TopTrader. Yes, I will keep you updated with not only the results but the strategy behind the trades. If you only learn 1% of this information, which might complement your existing system, then great.

    Lets continue to stay positive, learn, grow and become better traders.

    Speak soon.

    Ken

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Good to know.

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    [QUOTE=Kenfinance;99525]Trading Journal of a Pro Trader - Trading Setup Part 3

    Hi FF Members,

    Another day, another trade!

    Please find attached a transparent screenshot, showing the entry and stop levels: Click image for larger version. 

Name:	trade3.gif 
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ID:	2287

    EUR/USD
    Entry Long 1,3121
    Sell Stop 1,3076
    1st Target 1,3145 (cover half of lot size and the stop to breakeven)
    2nd Target 1,3160

    Will be in touch shortly with the results.

    Happy trading and stay positive!:yo:[/QUOTE]


    this is laughable.I see you are off the 1hr, but why are you countertrading??
    On the 1 hr its a recipe for disaster.We know how that last trade turned out, a residing loser.
    A few decent ma's would have kept you out of the trade.Whist i admire someone posting charts to backup their trades, yours are nonsensical.
    No matter how many fibs you pull, you're fighting the trend,
    On my 1hr chart, you were buying into significant resistance. Makes no sense.Hopefully you can learn.
    Also see my US 30 yr bond chart, currnetly up 180 pips, first day.Ur a Pro trader, hahahhahaha....................
    ps see my posts re natural gas. mega pips banked...........
    Dislikes FXScannerDarkly disliked this post

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Trading Journal of a Pro Trader – Trading Setup Part 3 Results (Video)

    Please watch the video below showing why I entered the trade and the results.



    I banked a nice 39 pips on this trade. The important thing to take from this trade was the confidence I had in my system. The overall short term trend was to the downside, but I prepared wisely and looked at the bigger picture. The daily time frame showed a nice support level based on the trendline I had drawn in. This provided me with a nice opportunity which coincided with the flush trade plan on the 1hr chart.

    Stay positive and good luck with your trading!

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Trading Journal of a Pro Trader - Counter Trend Part 4

    Longer Term Play

    Hi Members,

    Quick update, I entered a trade long, on the EUR/USD. Click image for larger version. 

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    The setup behind this trade short term, was going against the trade.

    Lets see if you can make profits, based on clearly defined counter trend setup!

    Buy EUR/USD 1,3063
    SELL Stop 1,2889

    This is a long term trade, due to my entry strategy focused on the monthly, weekly and daily time frame.

    Keep a look out for the next video showing the profits, loss or breakeven on the trade.

    Whats your views about this trade?

    Ken

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Hi,

    If you did not read the previous post and view the screeenshot, please take the opportunity to do so now.
    Below is the video showing the current trade that I am in.



    So far, the price has hit my 1st target at 1,3143 and continued to the upside. I sold 1 lot at the target and trailed my stop also to this level. By doing so, has ensured that I have locked in profits on the remaining lots. If the price tests my trailing stop tomorrow, I will be stopped out with a 80 pip profit.

    Im still looking for continued upside strength, so will keep my eyes closely on the price movement and any fundamental news, which may have an impact on the price tomorrow.

    Speak soon.

    Ken

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Ever heard of Smashie and Nicie? You sound exactly like them.
    On a serious note, Mr Smart Forex Education, how much will you be charging for this crap??
    I think i spot an opportunity
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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Quote Originally Posted by yogibear View Post
    Ever heard of Smashie and Nicie? You sound exactly like them.
    On a serious note, Mr Smart Forex Education, how much will you be charging for this crap??
    I think i spot an opportunity
    Im happy that you love my voice

    Success in the Forex market is based purely on your expertise to implement your trading plan in a real time market and profit on a consistent basis. Your strategy can be based on a variety of theories and concepts, the end product in regards to your account balance is ultimately the determing factor.

    Take myself out of the equation, because some people might say, "Ken, it is easy for you to trade and make money due to your experience, but how can I do this" Well I have recently added a new section to my website, http://www.smartforexeducation.com/trades catered towards newbie traders and their results in the markets. Even if you are finding it hard to build a system, send me a screenshot of your charts, and my experienced Smart Forex Education readers and I, will be more than happy to add our own views and comments on ways to improve.

    Real traders add value and contribute to Forums in order to elevate and improve other individuals trading. Remember, negative posts which does not provide value, is not enlightening.

    Change your mindset, add good content and lets help each other and other Forex forum readers to all become better traders.

    If anyone wants to receive more trading insights, please like this post or add a comment.

    I will be in touch shortly with another video showing how I exited the remaining lots on the trade. Also, I will be uploading more material that can aid in better trading practices.

    Speak soon.

    Ken

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    Default Re: Trading Journal Of A Pro Trader. Must Read Case Study!

    Hmm,
    Whilst i agree that posting on forums can help struggling traders avoid the mistakes that the poster has encountered, and i also agree with any strategy will have a degree of individualism, that cannot be passed on, you lost me at the line " Ken , it is easy for you to trade and make money,due to your experience..." Excuse me i have to change my pants, i just pissed them laughing.
    You still haven't answered my question, how much will you be charging for this crap???
    You are not a pro, it may well be you have an angle i can learn from, i have yet to be convinced.

    Good trading to you.
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