Hi everyone,
I am gonna be honest here. Been in forex for 7+ years and still haven't made it. Maybe the reason i am still losing is because i have never started a journal before. Thanks to FF for the journal section. I decided to start a journal here to record down trades i made.
Method: 5M and 6M scalping with heiken aishi. stochs for confirmation. 3 MAs. Pivots lines apply as well.
Pairs: I mainly watch Eur but i have the pound chart open aside. Will be trading pound with half position when euro shows no trade opportunities.
Money Management: As crazy as it gets but i am going for 10% equity per trade per week. So 10 losses in a row will blow up the account.
As of 11-20-13, i am trying a new MM with 1, 2, 3, 5, 8. Meaning 5 losses in a row will burn my account. Yea, lets roll with the martingale lol.
First trade i made today:-
Reasons for entry: MR1 holding as support. Indecision bars. divergence and stoch crossing from bottom. Initial stoploss 8pips, projected TP at R1 also at 8 pips.
Outcome: Bailed out at +5 pips when price didn't move. If hold longer, could get + 8pips as well.
I am gonna be honest here. Been in forex for 7+ years and still haven't made it. Maybe the reason i am still losing is because i have never started a journal before. Thanks to FF for the journal section. I decided to start a journal here to record down trades i made.
Method: 5M and 6M scalping with heiken aishi. stochs for confirmation. 3 MAs. Pivots lines apply as well.
Pairs: I mainly watch Eur but i have the pound chart open aside. Will be trading pound with half position when euro shows no trade opportunities.
Money Management: As crazy as it gets but i am going for 10% equity per trade per week. So 10 losses in a row will blow up the account.
As of 11-20-13, i am trying a new MM with 1, 2, 3, 5, 8. Meaning 5 losses in a row will burn my account. Yea, lets roll with the martingale lol.
First trade i made today:-
Reasons for entry: MR1 holding as support. Indecision bars. divergence and stoch crossing from bottom. Initial stoploss 8pips, projected TP at R1 also at 8 pips.
Outcome: Bailed out at +5 pips when price didn't move. If hold longer, could get + 8pips as well.