The purpose of this journal is to be able to put my thoughts and ideas somewhere in order to access them at a later date. This is more for me than anyone else. I'm not looking to share trade ideas, have discussions, or to prove anything to anyone except to myself. Please don't post on this thread.
My daily strategy is slow, steady, and profitable, but I need to prove to myself that I can trade intra-day. I will keep trading until I either blow up my account or for a full year, whichever comes first, while documenting everything. Then I will review the journal and see how I've done from day 1. Did I stay consistent? Did I manage risk? etc... The goal is to trade exactly the same for a full year and not change a thing. No adding indicators, no martingale (I will scale in if the entry allows it), and no over-trading.
I will decide on entry based on S&R, daily strength and currency sentiment. My only indicator is a daily range indicator, that’s it. If a pair is up for the day, enter long only on pull-back. I don't enter long at the top, or short at the bottom.
I will look for top and bottom entries to reverse only when a pair has considerably exceeded average daily range, but is not based on a major news move such as interest rates or monetary policy.
Trading pairs will be limited to 6, but mostly EU, GU, UJ, UCad - EJ, GJ will be monitored, but only traded if the Yen is significantly strong or weak.
My first day begins Thursday January 4th 2018.
My daily strategy is slow, steady, and profitable, but I need to prove to myself that I can trade intra-day. I will keep trading until I either blow up my account or for a full year, whichever comes first, while documenting everything. Then I will review the journal and see how I've done from day 1. Did I stay consistent? Did I manage risk? etc... The goal is to trade exactly the same for a full year and not change a thing. No adding indicators, no martingale (I will scale in if the entry allows it), and no over-trading.
I will decide on entry based on S&R, daily strength and currency sentiment. My only indicator is a daily range indicator, that’s it. If a pair is up for the day, enter long only on pull-back. I don't enter long at the top, or short at the bottom.
I will look for top and bottom entries to reverse only when a pair has considerably exceeded average daily range, but is not based on a major news move such as interest rates or monetary policy.
Trading pairs will be limited to 6, but mostly EU, GU, UJ, UCad - EJ, GJ will be monitored, but only traded if the Yen is significantly strong or weak.
My first day begins Thursday January 4th 2018.