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Admin Trading Journal FxChoice

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This is on a new FxChoice account just opened today. It is denominated in Bitcoin. Their accounts are based in "Bit" which is microbitcoins. I am bullish on Bitcoin and other cryptocurrencies long-term. So it's possible that not only will my account grow from trading, but the balance will also increase in value as time goes on.

My starting balance at the time of this post is 250,000 Bit.

Strategy: I will be trading with some indicators available on this forum such as the FEN indicator and MQL Harmonic Indicator and maybe some others. I will also consider trend lines and S/R levels.

Entries: I will use a mix of pending orders and market orders depending on when I see a good trade set up and my availability. I will also use an averaging in method. So if price goes against my trade(s), I will open another trade in the same direction to get a better overall combined price.

Exits: I usually will set a set TP, but not a SL. This is just my personal style. That may be too risky for many traders, but that's fine. To each their own. FxChoice allows for closing of individual orders without the need for FIFO and they also allow hedging. So if price is going against my trades, I may close a profitable trade early to lock in profits if I think price will continue going against my trades later. Or I might hedge too.

Broker: I will be using FxChoice MT4 which allows hedging and the FIFO rule is not enforced.


Linkback: https://www.forex.zone/trading-journal/31/admin-trading-journal-fxchoice/648/
#1 - January 09, 2019, 05:34:02 PM
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« Last Edit: January 10, 2019, 12:17:26 AM by Admin »

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I made some sell trades on EURCHF. There was a FEN signal and also a Cypher pattern both on the H1 chart. I closed the trades early because there is a trend line on the H4 close to the current price that looks like it is being re-tested and may act as support .

Total profit made was +461.04 Bit
#2 - January 09, 2019, 08:56:19 PM
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« Last Edit: January 11, 2019, 08:36:16 PM by Admin »

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I made a sell trade on GBPUSD and got in right at the top before price reversed down. Price had been at a very important resistance level from 2 different trend lines on 2 different times frames. My TP was easily hit.

Total profit made was +1247.72 Bit
#3 - January 10, 2019, 11:19:31 AM
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« Last Edit: January 11, 2019, 08:36:06 PM by Admin »

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I made a buy trade on EURCHF right before price reversed up. There was a signal from the FEN indicator which indicated a reversal was going to happen. Also, there was a trend line on the H4 that had been broken and re-tested. Both methods agreed with each other. My TP was easily hit.

Total profit made was +528.49 Bit
#4 - January 10, 2019, 11:29:48 AM
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« Last Edit: January 11, 2019, 08:35:56 PM by Admin »

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I placed some sell trades on Gold. There is a Butterfly pattern on the H1 and also an ABCD pattern on the H4 recognized by the MQL Harmonic indicator. I closed the trades early.

Total profit made was +1362.97 Bit
#5 - January 10, 2019, 01:41:18 PM
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« Last Edit: January 11, 2019, 08:35:46 PM by Admin »

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I sold Silver because of a trend line break on the H1. I placed 2 sell limit orders above current price in hopes that the line would be re-tested and then price would fall hard. This is what happened and my TP was later hit.

Total profit made was +3351.65 Bit
#6 - January 10, 2019, 07:13:07 PM
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« Last Edit: January 11, 2019, 08:35:36 PM by Admin »

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I placed buy trades on EURCHF because of a trend line on the Daily TF that had a strong breakout. I got in and out of these trades fast by hitting small TP levels. These were hedges for some sell trades which I still have open. I was not expecting price to shoot up as it did, so I took some profit along the way by hedging.

Total profit was +1773.19 Bit
#7 - January 11, 2019, 11:50:00 AM
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« Last Edit: January 11, 2019, 08:35:26 PM by Admin »

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Here are my sell trades which I mentioned in a previous post. I originally expected price to bounce off resistance so I could get some quick profit. It blew right thru resistance though. So I placed more sell orders and averaged in price. I closed the trades early for a little loss.

Total loss was -316.88 Bit
#8 - January 11, 2019, 03:04:46 PM
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« Last Edit: January 11, 2019, 08:35:14 PM by Admin »

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I sold Gold today. I am bearish on Gold long-term as I have posted elsewhere on this forum. There was also a FEN signal. So I expected for a top to form and then for Gold to reverse down. This is exactly what happened and my TP was hit.

Total profit was +1378.80 Bit
#9 - January 11, 2019, 08:34:23 PM
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I have been selling GBPUSD for the past day. I am bearish on this long-term regardless of what happens with Brexit or the UK voting. The reason is based on my GBPUSD technical analysis posted elsewhere on this forum. I will be selling some more soon too.

Total profit made was +24086.17 Bit
#10 - January 15, 2019, 02:56:34 PM
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I sold Gold again. I am still bearish on Gold. This was a near perfect trade. I sold near the very top and price started falling right away.

Total profit made was +3196.03 Bit
#11 - January 15, 2019, 04:01:55 PM
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I placed some buy trades for EURCHF. That same trend line that I mentioned in my previous post is now acting as support. Price has dipped down to that line and it is looking as if it will bounce off. So I will only be going long for right now.

Total profit made was +3108.21 Bit
#12 - January 15, 2019, 09:02:51 PM
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Here are some more sell trades for GBPUSD which I said I would be making more of.

Total profit made was +6779.19 Bit
#13 - January 16, 2019, 12:56:18 PM
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First  of  all superb  results  you  have  so  far!
i  got  few  questions 
are  you  trading  to  put   food  on  the  table?

What  about  entries  i  mean  you  said  write  your  way  to  trade  but  you  did  not  mentioned  about  how  you  enter  like  the  core  reason 

how  you  manage  the  news

write  about  your  trading  routines, i  just be  a  fan  of your  forum.  i  been  exploring  this place  like  a couple  of  days  and  decided  to  be  a  part  here. Awesome place 
#14 - January 16, 2019, 02:01:29 PM

  • Admin Trading Journal FxChoice in Trading Journal_index
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are  you  trading  to  put  food  on  the  table?
No, it's just supplemental income and a sort of hobby too.




What  about  entries  i  mean  you  said  write  your  way  to  trade  but  you  did  not  mentioned  about  how  you  enter  like  the  core  reason 
I either post screenshots along with my posts or I say that I am bullish/bearish based on posts in the technical section of the forum. Just take time to go through my posts and you will see what I'm talking about.





how  you  manage  the  news
I don't care about news at all. Sometimes, there are news events that should cause price to move in a certain direction and the opposite happens. And sometimes there are major news events that cause no move at all. At other times, there is volatility that happens with no news events at all. So news isn't important to me.





i  just be  a  fan  of your  forum.  i  been  exploring  this place  like  a couple  of  days  and  decided  to  be  a  part  here. Awesome place 
Thank you.






#15 - January 16, 2019, 02:08:39 PM

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