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To my Financial trading journal – midcountry financial

midcountry financial
My name is Brian and welcome to my Financial Trading Journal. This is where I’ll...

My name is Brian and welcome to my Financial Trading Journal. This is where I’ll be posting my trade entries on an intraday/daily basis. Trades will be posted on a spreadsheet in picture format; each trade entry will have their respective notes/comments explaining why I made the trade. Along with this, I will be posting forex charts showing my Technical Analysis (TA) along with my entries on the chart so you can easily follow when I made my trades.

The way this blog now works (for those of you that just found me now or those of you that knew me from day 1). This blog has been renamed “Financial” Trading Journal which is more generic for the entire field of finance. That said, I focus on 3 main trading instruments: stocks, forex and binary options. For the most part, I’m just an investor in terms of stocks. Whereas I’m a trader for forex and binary options.

All the trades as stated above will be placed into the trading journal regardless of their respective instrument. But, I also have sections of the site dedicated to each instrument. Compared to the full time trader, I’m an amateur, but I still know more than a newbie, so this blog is a good place to start (or continue). I’ve been exposed to the world of finance since March 2010. Within that time, I’ve accumulated a small amount of knowledge, just some small things that makes investing/trading that much easier.

For each instrument, I will have broker review, tools/tips, systems and signal services. The latter 2 are sites that I’m affiliated with, either friends that I’ve made or people that have proved themselves useful and reliable over time. I’ll explain a bit about each category below.

Lastly, I have Education and Strategy sections, these are entirely separated under their own category from the instruments. This is because the info contained within them pertain to all instruments and investing/trading in general.

broker review

For each instrument, I will include a section for the brokers that I’ve used in the past and a review based on my experience with them. I will also include a list of the other brokers that I’ve heard of and their prominent features that make them stand out (if any).

education and strategy

These will be two separate sections not contained within the instruments. The information contained within these sections pertain the entire trading experience.

Education will cover the basic topics like psychology, emotion, the typical things that you see other sites talk about.

 

Strategy will basically be a pool of strategies that I either like, used or currently use. The thing with strategies is that 1 single strategy does not work all the time. You have to be able to gauge what’s going on in the markets and then proceed accordingly.

signal servise

These are sites that provide (paid, they’re not free) signal services. This premium service is usually run on a monthly basis. The signals are easier compared to trading systems, because the traders that run the sites just send out the signals to you, then you place the trade.

These are mainly geared towards binary options. But depending on how you trade, you could potentially use these signals for regular trading as well. Some sites cover commodities, forex and stocks. So you can trade them accordingly. Read more on this in the actual section.

tranding system

These trading systems were developed by veteran traders who’ve been trading for a while. They documented their trading strategy and how it works and are now selling it to you for a price. Unlike the signal services where you’re paying for signals per month, these systems usually cost more but only have a one time feeing instead of a recurring fee. Also, after learning the system, you have to trade it yourself as opposed to having signals sent to you. So both have their pro’s and con’s. So, choose whichever one that suits your trading style.

 

My name is Brian Nguyen and I’m 21 yrs old, currently residing in Toronto, Canada.

Education: I’m currently a full time student attending the University of Toronto: Scarborough Campus. I’m doing a Specialist in Human Biology + Major in Economics. In my 4th yr of studies, going to stay back an extra year to finish the Major in Economics, since both programs adds up to 24 credits (only need 20 to graduate). Afterwards, I intend to pursue a Masters in Economics or Financial Economics.

Work:

  1. I run my own home business selling consumer electronics, mainly iPod accessories and audio/video cables. Started the business in January 2007, been here ever since, profit margin is high, but the sales are low. But hey, it’s been 4 years in business, no losses, all done while being in university.
  2. Teaching assistant for 1st year Economics courses for one of my professors started in Sept 2009.
  3. Private tutor for various subjects in high school and 1st year university courses.

My investing background: I started trading penny Stocks on March 31, 2010 and blue chip Stocks around May 2010. With blue chips I felt it had to do a lot more with fundamentals and charting versus penny Stocks which is more momentum base with a bit of TA as well. With that said, my TA isn’t that great, as you’ll notice on the Strategy page, I use very basic signals to pick my entry points.

 

Goals of this trading journal is to mainly document all my good/bad moves from the start so I can learn from them and maybe help you guys to do the same. You’ll notice that I’m not gunning for 100% win streaks, that’s impossible. There’s a quote, I forgot who said but “Nothing is certain except for uncertainty”. Chance will always be in the equation. But as I’ll explain in my Strategy and Education pages, we’re only going for a certain % win ratio in order to profit.

Personal Goal: for 2011 is to have a net income of $100,000+ from all sources of income. Business isn’t doing that well compared to pre-2008/09 recession, so investing will probably be making up a bigger piece of the pie this year.

Onto Binary Options (BO), I found out about these sites during midterm season (mid October 2010) while I was procrastinating my studies. Long story short, this was a bad time to start trading, thoughts going through my mind at the time “Making money or studying for a Economics exam… hmm…”

Within the first couple weeks of trading, you’ll notice that I venture out and try to trade Commodities and Stocks BOs. That didn’t work out so well, for the most part of this trade journal (for the first quarter of 2011 anyways) I will mainly be focusing on Forex BOs. Here’s the kicker, I’m originally coming from a Stocks background in investing yet I suck at trading the Stocks BOs. But I’m good at trading Forex BOs yet I’ve never traded actual Forex in my life.

In my opinion, I think Forex is a great starting point to trade BOs mainly because of its fast-paced volatility giving the ease of entries and wider spreads to win. Compared to Stocks with minimal volatility, you’ll probably notice Apple or Microsoft change a couple cents an hour whereas EUR/USD or USD/CAD could change between 5-50* pips an hour.

* 1 pip = 0.0001, the smallest movement that a currency can change, but some brokers use a 5th decimal place as you’ll notice with most of the BO broker sites.

What I’m going to do (Short run):

  1. Post a daily excel spread sheet of my trades with the current balance + a short note on why I made the trades. My “Newbie Trading Days” won’t have this, but everything after that will have some sort of TA explaination, since the beginning trades were all BS and I don’t really remember why I traded them.
  2. Along with the daily trades. I will be posting 1 or several timeframe Forex charts to indicate my entries then zoom out as to look at the big picture kind of thing. This depends on the currency pair and how many call/puts I have on it, if I just have 1 trade, I might not bother taking screenshots just for that 1 trade on a single pair/commodity.

What I plan to do (Long run):

  1. As stated above, my TA isn’t that great. I’ve used some indicators and TA for Stocks but I haven’t really applied it to Forex yet. Especially since these are hourly options, the timeframe is new to me. So in the first few graphs, there most likely won’t be much TA yet, just green and red circles indicating calls and puts. The goal will be to start implementing TA as I go along. The later trades starting on Dec 26th, 2010 will have green and red arrows instead indicating calls and puts respectively.

 

What I’d like to do (Very long run):

  1. Start applying my knowledge of Macro Economics into Forex. I haven’t learned Financial Economics yet; I’ve just learned basic macro models on interest rates and money supply etc. I haven’t dealt with policies yet. But what I’d like to do later on is to actually use the news, which is something I haven’t done frequently and correctly.

 

Explanation for my blog posting style

Top left of every blog post will contain a broker logo, this is the broker that I used to make the trades in that post. To kind of show you which ones I use for different trades. This applies for trade made later on, initially I was only with StartOptions.

I’ll usually have a small blurb at the top and bottom of each post to explain my overall feelings for the day, also will give a summary at the bottom for win ratio and profit/loss.

Excel spread sheets showing my trades will be posted in picture format (unless someone wants to show me how to do this with a plug-in instead, it’s a big chart!). On this spread sheet, I will be posting my personal format for the trades because each broker displays the trades differently. To avoid any confusion, I will make a generic layout for the trades. I’m in EST (GMT-5) so all times on the spread sheet and the Forex charts will be displaying this time. Like I stated in the above section, green circles/arrows indicate CALL entries while red circles/arrows will indicate PUT entries.

Small disclaimer for my posts: In the past, I have seldom edited my posts, once it’s posted, it usually sticks. I usually only edit to add missing details, not remove things. This whole blog is going to depict my complete experience with binary options; both the profits and losses will be posted. I’m known to be an honest guy among my friends, also as a business man, I tend not to bullshit people, it’s all strictly business. The business of this blog is to share my experience. I provide the whole picture for you to disect, not just the good bits. What you do with the picture is up to you.

 

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