ForexSpirit

Since I started demo trading the BWILC methodology towards the start of March I have not had any accompanying commentary or journal entries.  I plan to remedy that going forwards, as I feel having a trading journal is an important tool to help me become a successful trade.

Let’s take a look at what my trades were during March 2006:

So six entries, only one of which resulted in a loss.  You can see the entries and exits on the chart. Blue triangles are buys; red triangles represent selling.  The number above each triangle is the number of lots bought or sold.

My recollection of the trades is very positive overall.  I don’t remember feeling stressed or rushed in any way.  I placed entries when I felt that the market offered good value coupled with a favorable probability that upcoming news would strengthen Euro (since my one direction is long Euro).

Slight disappointment that I didn’t exist the final trade at the 1.218 level, rather than suffering a pullback during the subsequent London session, whereupon I got out before the close for the weekend.  I feel a touch of greed was at work here.  It would have been smarter to take the money at the 1.218 level and then re-enter the maket if a pullback did occur.