Hello Everybody
The goal of this trading journals is to make 10% return on a weekly basis, accordingly to the theorical trade plan (look at excell spreadsheet)...i know it is huge return (if anualised) and probably will not make it...and a lot of you are going to think/say i am stupid...it is ok for me..but it is my goal this year and i will try to make it !!
You can see my account before 1st post...As you can see, i basically trade eur/usd, since itīs the pair i am most confortable with..my strategy for entry is not based on a system as you can see plenty of them on FF, but i donīt think i invented anything..Since i donīt know what the price is going to do, i just follow the price / trend..i usually work with Support (S) and Resistance (R) horizontal lines, Trend lines (TL), 100SMA and 200SMA, ADR, and a little bit of Fibo ..Usually i look at 1W, 1D , 4H and 1H in order to identify the trend, and 1H candles for entry, being this last one the most important one for me (for entry and exit point)...I always trade with a Stop Loss (SL) entered at the same time as my entry order, but not always with a target profit (TP), since i need to see sometimes what the price is doing at reaching my TP..
II consider myself a novice trader, as i am trading live for only 1 year...on average i am watching charts 10/12 hour a day (combined most of the time with my work...so it is not the same as being full dedicated to it) ...2012 has been profitable (+60% on an account founded by 1000 euros on average) but i made so many mistakes!!!...
So i will try to overcome most of them, the most dangerous one for me at the moment is overtrading....Since my "method" show me on average 1 trade or less per day, i sometimes canīt wait and trade eur/usd or an other pair (or metal or SP, EU50 or Dax) and, on average, lose some pips !! and for sure new problem will appear on this journey...
Let see what happens this year..
PS. sorry for my english, it is my third language, so i am not that fluent....
The goal of this trading journals is to make 10% return on a weekly basis, accordingly to the theorical trade plan (look at excell spreadsheet)...i know it is huge return (if anualised) and probably will not make it...and a lot of you are going to think/say i am stupid...it is ok for me..but it is my goal this year and i will try to make it !!
You can see my account before 1st post...As you can see, i basically trade eur/usd, since itīs the pair i am most confortable with..my strategy for entry is not based on a system as you can see plenty of them on FF, but i donīt think i invented anything..Since i donīt know what the price is going to do, i just follow the price / trend..i usually work with Support (S) and Resistance (R) horizontal lines, Trend lines (TL), 100SMA and 200SMA, ADR, and a little bit of Fibo ..Usually i look at 1W, 1D , 4H and 1H in order to identify the trend, and 1H candles for entry, being this last one the most important one for me (for entry and exit point)...I always trade with a Stop Loss (SL) entered at the same time as my entry order, but not always with a target profit (TP), since i need to see sometimes what the price is doing at reaching my TP..
II consider myself a novice trader, as i am trading live for only 1 year...on average i am watching charts 10/12 hour a day (combined most of the time with my work...so it is not the same as being full dedicated to it) ...2012 has been profitable (+60% on an account founded by 1000 euros on average) but i made so many mistakes!!!...
So i will try to overcome most of them, the most dangerous one for me at the moment is overtrading....Since my "method" show me on average 1 trade or less per day, i sometimes canīt wait and trade eur/usd or an other pair (or metal or SP, EU50 or Dax) and, on average, lose some pips !! and for sure new problem will appear on this journey...
Let see what happens this year..
PS. sorry for my english, it is my third language, so i am not that fluent....
Attached File(s)