Not An Average Journal

This right here is on the top of my list of game changers. If you’re not journaling your trades your setting yourself up for failure. For me, it took a while to start using a journal just due to being lazy and not having a proper journal that had met all my needs and that was easy to use. Finally, I stumbled across a company and trade journal called Edgewonk, this right here, in my opinion, is the best trade journal I’ve found. Some of the features Edgewonks journal platform have are:

  • Interactive equity graph: Analyse every aspect of your trading individually and visualize how your trading behavior is impacting your results
  • Trade entry wizard:¬†Adding new trades is as easy as 1-2-3 with our improved entry wizard.
  • Holding time analysis:¬†Analyze how holding time is impacting your performance and find out what works best for you
  • Trade management evaluation:¬†Compare your potential and your actual performance and see where you are leaving money on the table
  • Stop and profit metrics:¬†Edgewonk shows you exactly if you could improve your order placement
  • Analyze your own setups:¬†Start tracking different strategies and setups and find out when they are performing best
  • Save trade screenshots:¬†Add screenshots to your trades and use our Chartbook to go through your past trades
  • Session analyzer:¬†The Sessions tab allows you to make notes about weekly/monthly sessions and keep track of important findings and lessons
  • Custom statistics:¬†Create your own, personalized statistics, tag your trades and then evaluate the impacts on your performance
  • Works on all markets:¬†Edgework works for stocks, Forex, Spreadbetting, futures and CFD trading This journal isn’t free, the price for

This journal isn’t free, the price for Edgewonk’s journal platform is $169.00 ¬†Please find a link for the free trial which you can download to get a feel for the journal yourself¬†edgewonk.com/free-trial

Edgewonk isn’t the only trade journal out there, don’t get me wrong but for me¬†this platform has everything plus more you need to develop a winning strategy an sustain that strategy through the changing conditions of the market. A few extra features I think that make this platform¬†better than all others are little things such as the Trading sessions section where every morning I will set goals, how I am emotionally and expectations and at the end of the day I¬†will conclude my day with what worked, what didn’t¬†and what I’ve learnt¬†Screen Shot 2017-09-24 at 12.48.05.png

Defo check it out guys and would love to hear some feedback on your own experience using the platform.
Don’t forget to join my free telegram group for real-time updates on trades entries, setups, and analysis :

t.me/averagetraderstalk

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22.09.17 EURCAD Daily Breakdown

Due to price reversing from weekly mid-range I still believe we can see some downside momentum as long as we stay below 1.475. Yesterday we saw price push up from our daily support area where it has now found resistance at 61.8 FIB reversal zone, we have also formed a 3 pin formation on H4 and H2. I am expecting lower prices, I believe the price will revisit daily support 1.466 if we break I will hold my position to original target which is 1.46 FIB extension target 1.
I have an entry strategy for both daily support areas and break of mid-range which is
Entry strategy to go long :
  1. We see price move back towards daily support 1.46614 where a clear formation forms on H4/H2, I would then scale down one timeframe where I will wait for 8ema break
  2. This is my preferred setup. Price will break 1.466 making its way to 1.458 support. This is my preferred region as this is our FIB reversal zone area for long entries from low to high point
  3. This entry setup would be a clear break retest of 1.4750.
We have some news that might push EUR either direction. Draghi speech 9am and 10:30am below a brief description of how the market acted…………..
Before : Screen Shot 2017-09-22 at 06.29.17
After :
Screen Shot 2017-09-22 at 15.09.23
As expected, we have seen price revisit daily support. This should have been my original target due to my overall analysis being bullish but we learn from these mistakes. We can see price pined off the daily support reversed back to the upside and closed above 8 ema. Will be watching for reversals at weekly for short-term shorts, but I am expecting the price to break above a key level if we do get a break I will wait for PB before looking to go long.
All in all good week. still, need to work on patience and letting the trade come to me. I actually think maybe having 3 pairs appose to 2 will be a great benefit in being able to wait for setups.
Remember to always try and take something away from a loss. These will be the most important trades!!