I've started this journal to help me stay focused and on track. I've lost real money and felt the pain.
I'm going to be trading demo and on 4hr charts only. Trading price action and S/R lelvels.
I'm looking at 18 pairs. Haha I know that sounds like a lot. But What I look for is pretty specific along with price action so it takes me 5 mins max to scan them all at the close of every 4 hr candle.
I'll be risking max 2% per trade with total exposure being 6% at any given time. My intial profit target is the close of the first/second 4hr candle after initiating the trade depending on if the trade is in profit or not. I then move the rest to Breakeven and take it off where I see fit. That way my money is not stuck in one trade.
(plan modified update)
Only looking at Majors now
Initial target 8-16hrs
I've added the account to trade explorer so anyone can see what I am doing.
Updates: Weekly summaries
Week 1 1.8%
Week 2 8.43%
I'm going to be trading demo and on 4hr charts only. Trading price action and S/R lelvels.
I'm looking at 18 pairs. Haha I know that sounds like a lot. But What I look for is pretty specific along with price action so it takes me 5 mins max to scan them all at the close of every 4 hr candle.
I'll be risking max 2% per trade with total exposure being 6% at any given time. My intial profit target is the close of the first/second 4hr candle after initiating the trade depending on if the trade is in profit or not. I then move the rest to Breakeven and take it off where I see fit. That way my money is not stuck in one trade.
(plan modified update)
Only looking at Majors now
Initial target 8-16hrs
I've added the account to trade explorer so anyone can see what I am doing.
Updates: Weekly summaries
Week 1 1.8%
Week 2 8.43%