First, The Rules:
1. This is a trading JOURNAL, it is not my intention to teach anyone how I trade.
2. Journal updates will be 1-2 times per trading day.
3. Journal will run until the end of this year (2009). After the journal ends I will open it up for comments for about 1 month. Then it will be closed permanently.
4. Do not PM or email me about this journal, I will not respond.
Goals:
1. To prove to everyone that trading should not be a complicated process.
2. To show that a steady growth can be achieved with little effort.
3. To show there are other really good trading times OTHER than London.
Trading Method:
1. I DO NOT USE Fib's, Support and Resistance, Pivots, Stochastics, RSI, DMI, AO, AC, Price Action or any other indicator that gets in the way of seeing what is ACTUALLY happening on the chart.
2. I only use 1 moving average one set for the high and one for the low. Both are set for the same value of the moving average.
3. I only trade using the 1 min chart. I DO NOT CARE what is happening on the 5,15,30,60,4hr,daily,weekly or monthly chart. It has absolutely no impact on my trading so I do not clutter my screens with it.
4. Just because I trade on the 1 min DOES NOT mean I am a scalper. I have had several trades including tonight that go over 100 pips.
5. I trade two sessions a day. Asia and the U.S. I only trade long enough to get what I feel is the most out of each session. Typically for each it is 1-4 hours no more.
Why Did I Start This Journal?
I spend a good bit of time reading through most of the threads on FF. Quite frankly I have become disgusted with most of the threads. There are two types of people in the interactive trading section. First is the rooster who likes to hear themselves crow at every opportunity about how they are able to pick tops and bottoms and know days in advance which direction the market is going. The other type is the chickens who sit around and wait for the rooster to crow some new trading call. In the trading systems section you have people who with good intentions post their system. Very quickly you get people wanting to know what the win percentage is, if they trade it live, how long they have traded it and whether or not there is a freaking EA for it. Then some moron comes along with a super duper new indicator that will help to "filter out" the bad trades. Of course this moron has never even traded the original system. Within a very short period of time you end up with a system that is nothing like the original, 10 times more complicated and not even close to the same results as before.
The rest of the forums pretty much go unused. Don't believe me? Look at the number of people viewing the interactive trading and trading systems sections and compare that to the rest of the forums. There are far too many people waiting for someone else to make them successful. Of course if you just listen to roosters crow at least you can blame someone else other than yourself if you fail.
1. This is a trading JOURNAL, it is not my intention to teach anyone how I trade.
2. Journal updates will be 1-2 times per trading day.
3. Journal will run until the end of this year (2009). After the journal ends I will open it up for comments for about 1 month. Then it will be closed permanently.
4. Do not PM or email me about this journal, I will not respond.
Goals:
1. To prove to everyone that trading should not be a complicated process.
2. To show that a steady growth can be achieved with little effort.
3. To show there are other really good trading times OTHER than London.
Trading Method:
1. I DO NOT USE Fib's, Support and Resistance, Pivots, Stochastics, RSI, DMI, AO, AC, Price Action or any other indicator that gets in the way of seeing what is ACTUALLY happening on the chart.
2. I only use 1 moving average one set for the high and one for the low. Both are set for the same value of the moving average.
3. I only trade using the 1 min chart. I DO NOT CARE what is happening on the 5,15,30,60,4hr,daily,weekly or monthly chart. It has absolutely no impact on my trading so I do not clutter my screens with it.
4. Just because I trade on the 1 min DOES NOT mean I am a scalper. I have had several trades including tonight that go over 100 pips.
5. I trade two sessions a day. Asia and the U.S. I only trade long enough to get what I feel is the most out of each session. Typically for each it is 1-4 hours no more.
Why Did I Start This Journal?
I spend a good bit of time reading through most of the threads on FF. Quite frankly I have become disgusted with most of the threads. There are two types of people in the interactive trading section. First is the rooster who likes to hear themselves crow at every opportunity about how they are able to pick tops and bottoms and know days in advance which direction the market is going. The other type is the chickens who sit around and wait for the rooster to crow some new trading call. In the trading systems section you have people who with good intentions post their system. Very quickly you get people wanting to know what the win percentage is, if they trade it live, how long they have traded it and whether or not there is a freaking EA for it. Then some moron comes along with a super duper new indicator that will help to "filter out" the bad trades. Of course this moron has never even traded the original system. Within a very short period of time you end up with a system that is nothing like the original, 10 times more complicated and not even close to the same results as before.
The rest of the forums pretty much go unused. Don't believe me? Look at the number of people viewing the interactive trading and trading systems sections and compare that to the rest of the forums. There are far too many people waiting for someone else to make them successful. Of course if you just listen to roosters crow at least you can blame someone else other than yourself if you fail.