Comments on: Begin With The End In Mind + EUR/JPY Opportunity http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/ Just another FXstreet.com Blogs weblog Sun, 08 Nov 2009 03:09:24 +0000 http://wordpress.org/?v=2.5.1 By: Pierre Charlebois http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-33 Pierre Charlebois Fri, 11 Jul 2008 12:43:32 +0000 http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-33 Sure thing Gan. On my spreadsheet I track two things. 1. One is my win loss ratio. Meaning; what is my percentage wins. Here I aim for a better than 50% win. 2. The other is what my original stop loss (risk) was when I entered the trade divided by the total number of pips lost or gained. This shows my TRUE risk/reward result. Here I aim to be higher than 1.5 overall. My other sheet is a journal or check-list really. It's a daily sheet that I use to review specific pairs and make notes on where I will enter if the trendlines I am watching are either broken or reverse the price action. I start each day by writing down the news events I plan on following at what time on what pairs. As well as reviewing notes and trades in progress from the previous day. I tansfer yesterdays outstanding information to the current days sheet and use this as my work plan for the day. What this really helps me with is I now miss fewer hi probability postion trades that I see on the daily charts. I hope this helps. Cheers Sure thing Gan.

On my spreadsheet I track two things.
1. One is my win loss ratio. Meaning; what is my percentage wins. Here I aim for a better than 50% win.
2. The other is what my original stop loss (risk) was when I entered the trade divided by the total number of pips lost or gained. This shows my TRUE risk/reward result. Here I aim to be higher than 1.5 overall.

My other sheet is a journal or check-list really. It’s a daily sheet that I use to review specific pairs and make notes on where I will enter if the trendlines I am watching are either broken or reverse the price action. I start each day by writing down the news events I plan on following at what time on what pairs. As well as reviewing notes and trades in progress from the previous day. I tansfer yesterdays outstanding information to the current days sheet and use this as my work plan for the day.

What this really helps me with is I now miss fewer hi probability postion trades that I see on the daily charts.

I hope this helps.

Cheers

]]> By: Gan http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-32 Gan Fri, 11 Jul 2008 11:52:50 +0000 http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-32 Dear Pierre, Could you elebrate on the trading plan worksheet/checklist and reviews. Dear Pierre,

Could you elebrate on the trading plan worksheet/checklist and reviews.

]]> By: Pierre Charlebois http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-31 Pierre Charlebois Thu, 10 Jul 2008 21:58:44 +0000 http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-31 Hey Rob. Like you, I like to follow multiple pairs. By writing things down it helps me remain clear on what my goals are for each trade. I also get to see what I wrote the day before. It's amazing what I forget about in the space of 24 hours... I use two documents. One is a spreadsheet where I track all trades with my win/loss ratio and risk/reward outcomes. The other is a daily work sheet/checklist that I go through and fill out everyday. BTW. I used to hate doing this. Now it's just habit and part of my routine. Cheers Pierre Hey Rob.

Like you, I like to follow multiple pairs. By writing things down it helps me remain clear on what my goals are for each trade. I also get to see what I wrote the day before. It’s amazing what I forget about in the space of 24 hours…

I use two documents. One is a spreadsheet where I track all trades with my win/loss ratio and risk/reward outcomes. The other is a daily work sheet/checklist that I go through and fill out everyday.

BTW. I used to hate doing this. Now it’s just habit and part of my routine.

Cheers

Pierre

]]> By: Rob Booker http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-30 Rob Booker Thu, 10 Jul 2008 21:07:41 +0000 http://blogs.fxstreet.com/disciplined/2008/07/09/begin-with-the-end-in-mind-eurjpy-opportunity/#comment-30 Pierre, Writing down the plan -- documenting it -- is an awesome idea. Do you keep a journal, a spreadsheet, or any formal method of documenting the trades that you take? Rob Booker Pierre,

Writing down the plan — documenting it — is an awesome idea. Do you keep a journal, a spreadsheet, or any formal method of documenting the trades that you take?

Rob Booker

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