In real life I have had many successes and many failures just like everyone else. Since this is the "Trading Journal" section I think I'll give it a second try but stay a little more confined to some rules. I learned from the last thread I started about a specific weakness that I share with many Forex traders...skipping from one trading method to another. Foolproof recipe for disaster.
I have experimented with so many different strategies that I really feel like Thomas Edison...I know a thousand ways that trading doesn't work.
So this thread will be for those guys trying to break away from indicators. This thread will use the following 2 "things" on my chart:
1. horizontal lines for support and resistance
2. Pivot points
I'm gonna treat this like it's a real account as though it were my only hope of a financial rescue from the beat down of life from some mundane job that will terminate you for any reason.
I was intrigued by the thread started by the poster Rags2RichesFX found here http://www.forexfactory.com/showthread.php?t=444377
I won't stick to his parameters but just try to accomplish a minimum of 10 pips per trade. The account is set at a 50:1 margin but my lot size will be stuck at .01 for a while and gradually will increase in size provided the account increases.
Pass or fail, either way I'm doing this so let's see how the next 3 months go...first goal is to get account to $75.
BTW, I've included a new Trade Explorer with a new balance so hopefully the other account deletes itself.
I have experimented with so many different strategies that I really feel like Thomas Edison...I know a thousand ways that trading doesn't work.
So this thread will be for those guys trying to break away from indicators. This thread will use the following 2 "things" on my chart:
1. horizontal lines for support and resistance
2. Pivot points
I'm gonna treat this like it's a real account as though it were my only hope of a financial rescue from the beat down of life from some mundane job that will terminate you for any reason.
I was intrigued by the thread started by the poster Rags2RichesFX found here http://www.forexfactory.com/showthread.php?t=444377
I won't stick to his parameters but just try to accomplish a minimum of 10 pips per trade. The account is set at a 50:1 margin but my lot size will be stuck at .01 for a while and gradually will increase in size provided the account increases.
Pass or fail, either way I'm doing this so let's see how the next 3 months go...first goal is to get account to $75.
BTW, I've included a new Trade Explorer with a new balance so hopefully the other account deletes itself.
Everything easy was hard at first