FTMO Free Trial Challenge with Nse

DAY 8 Trade Journal (1) (Wednesday, 19th August)

Asset: GBPCAD
Trade Type-Long Setup

Execution- instant
Analysis TF- D1/4hr/1hr/15mins

Idea/Approach: Price traded below last week's low but didn't break below it. Also, price created an irregular crown pattern on 1hrs, and broke the neckline, which was the last high that gave the most recent low. Entry at the confluence price, where the retest for all the checklist meets.
Checklist:
>Invalidation of the 4hr bearish Channel
>Invalidation of the 4hr Falling Wedge Pattern
>Creation of Inverse crown pattern (trend reversal pattern)
>Creation of a 1hr Ascending Bullish Channel

Entry- 1.8798
SL- 1.8755
TP-1.8903

Comment: This is my First trade on the account.

I'm still following up on GBPAUD Setup tomorrow.
Will be looking at entering buys @1.9065 price level with SL at 1.9004 and TP at 1.9224

Still following up on EURAUD tomorrow.
Will be entering Buys from the flip zone with my previous parameters.

Entry- 1,63035
SL- 1.6253
TP-1.6515

Yeah. It did. This one that I was not heavy on my risk, went well without stress. If I max out my risk now, I'll just be finding myself in unnecessary losses.

DAY 8 Trade Journal (1) (Wednesday, 19th August)

Asset: GBPCAD
Trade Type-Long Setup

Execution- instant
Analysis TF- D1/4hr/1hr/15mins

Idea/Approach: Price traded below last week's low but didn't break below it. Also, price created an irregular crown pattern on 1hrs, and broke the neckline, which was the last high that gave the most recent low. Entry at the confluence price, where the retest for all the checklist meets.
Checklist:
>Invalidation of the 4hr bearish Channel
>Invalidation of the 4hr Falling Wedge Pattern
>Creation of Inverse crown pattern (trend reversal pattern)
>Creation of a 1hr Ascending Bullish Channel

Entry- 1.8798
SL- 1.8755
TP-1.8903

Comment: This is my First trade on the account.

DAY 8 Trade Journal (3) (Wed, 19th August)

Asset: NAS 100
Trade Type-Long Setup
Analysis TF: 4hr/1hr/15mins

Checklist:
> Reaction at 4hr Demand zone resting on a minor support level (29400)
> 1hr bullish engulf above last week's Low
>15mins Bullish Crown Pattern
>Break of neckline of the chart pattern, and entry at the retest to form the right shoulder.

Execution- instant
Entry-29441
SL-29336
TP-29845

Comment: This is my 2nd trade on the account today.

DAY 8 Trade Journal (3) (Wed, 19th August)

Asset: NAS 100
Trade Type-Long Setup
Analysis TF: 4hr/1hr/15mins

Checklist:
> Reaction at 4hr Demand zone resting on a minor support level (29400)
> 1hr bullish engulf above last week's Low
>15mins Bullish Crown Pattern
>Break of neckline of the chart pattern, and entry at the retest to form the right shoulder.

Execution- instant
Entry-29441
SL-29336
TP-29845

Comment: This is my 2nd trade on the account today.

Nice one

DAY 8 Trade Journal (2) (Wed, 19th August)

Asset: NAS 100 (2)
Trade Type-Long Setup
Analysis TF: 4hr/1hr/15mins

Checklist
> Reaction at 4hr Demand zone resting on a minor support level (29400)
> 1hr bullish engulf above last week's Low
>15mins Bullish Crown Pattern
>Break of neckline of the chart pattern, and entry at the retest to form the right shoulder.

Execution- instant
Entry 2-29430
SL-29336
TP-29845
Lot size: 5.0
Risk: -$500
Target: +$2000

Comment: had to reduce my risk, but still maintaining the day-trading strategy.
My sole aim now is working on more precise entries that can allow room for take profit before the trading day is over.
Will possibly close out and not wait till it hits TP. The setup is giving a swing impression but will just follow it closely.
This is my 3rd Trade position on the account today.

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I'm here to share my own personal experiences while going through the challenge for you to learn, and it's also helping me improve on my daily market approach because no matter your years of experience in the market, there's always something new to learn.

Nice nice

DAY 8 Trade Journal (2) (Wed, 19th August)

Asset: NAS 100 (2)
Trade Type-Long Setup
Analysis TF: 4hr/1hr/15mins

Checklist
> Reaction at 4hr Demand zone resting on a minor support level (29400)
> 1hr bullish engulf above last week's Low
>15mins Bullish Crown Pattern
>Break of neckline of the chart pattern, and entry at the retest to form the right shoulder.

Execution- instant
Entry 2-29430
SL-29336
TP-29845
Lot size: 5.0
Risk: -$500
Target: +$2000

Comment: had to reduce my risk, but still maintaining the day-trading strategy.
My sole aim now is working on more precise entries that can allow room for take profit before the trading day is over.
Will possibly close out and not wait till it hits TP. The setup is giving a swing impression but will just follow it closely.
This is my 3rd Trade position on the account today.

DAY 8 Trade summary on the Account.
I took 2 trade setups on the Account yesterday.

NAS 100 (buys) and GBPCAD (buys)
Total number of positions- 3

3 wins
NAS 100: +$1013.75
GBPCAD: +$2592.23
NAS 100: +$191.95
Total= +$3797.93
Commission: -$40

Profit= +$3757.93

Comment: I recovered 3.5% of the Losses on the Account Yesterday. The drawdown was 6%.
As at yesterday, the account went from $94,500 approx., to $97,900 approx., making it at 3.9% approx.

DAY 9 Trade Journal (1) (Thurs, 18th August)

Asset: CADJPY
Trade Type-Long Setup

Idea/Approach: spotted a bullish ascending Channel and a flip zone from resistance to support with a 4hr bullish engulf.
Execution- instant
Analysis TF- D1/4hr/1hr/15mins

Entry 1- 115.027
SL- 114.37
TP-116.57

Comment: This was my 1st trade today.

DAY 9 Trade Journal (2) (Thurs, 18th August)
Asset: EURJPY
Trade Type-Long Setup

Idea/Approach: The EURJPY was equally similar with CADJPY.
I spotted a bullish ascending Channel and a flip zone from resistance to support with a 4hr bullish engulf.

Execution- instant
Analysis TF- D1/4hr/1hr/15mins

Entry 2- 183.15
SL- 184.51
TP-187.03

Comment: This was my 2nd trade today.

DAY 9 Trade Journal (3) (Thurs, 18th August)

Asset: AUDJPY
Trade Type-Long Setup

Idea/Approach: spotted a bullish ascending Channel and a flip zone from resistance to support with a 4hr bullish engulf.

Execution- instant
Analysis TF- D1/4hr/1hr/15mins

Entry 1-112.883
SL- 112.48
TP-114.48

Comment: This was my 3rd trade today. I had a clause on this setup. Price was still reacting to last week's high and struggling to break above it. This made me thought the trade will turn into sell and I was already in it.