I've been struggling with success in forex for nearly 5 years. I've paid nearly $13,000.00 "tuition" over those years, to FXCM, OANDA, & IBFX. I intend to use this journal to more clearly indentify my faults, and correct them.
Recently I've had some success (and acquired confidence in) the trading strategy from this thread. Attached is a pdf summary of the main points discussed in the thread.
I also find some validity to the ideas expressed in the writings of Sam Seiden, his work attached in the zip file.
The latest two trading books I've read are Marber on Markets & Millionaire Traders.
Because I am a self employed truck driver, I trade using MT4 mobile. My trading week begins on the weekend reviewing the weekly and daily charts on my home pc. I trade only one pair, EURUSD because of spread and my time constraints. Given my "real job," I have no set work schedule during the week. My trading day starts with a review what news releases are scheduled, noting the time of release. Then a review of the charts noting potential areas of S/R in relation to current price levels, using this to start creating a tactical trading plan for the day. This plan will change as price action dictates.
Some general guidelines :
Recently I've had some success (and acquired confidence in) the trading strategy from this thread. Attached is a pdf summary of the main points discussed in the thread.
I also find some validity to the ideas expressed in the writings of Sam Seiden, his work attached in the zip file.
The latest two trading books I've read are Marber on Markets & Millionaire Traders.
Because I am a self employed truck driver, I trade using MT4 mobile. My trading week begins on the weekend reviewing the weekly and daily charts on my home pc. I trade only one pair, EURUSD because of spread and my time constraints. Given my "real job," I have no set work schedule during the week. My trading day starts with a review what news releases are scheduled, noting the time of release. Then a review of the charts noting potential areas of S/R in relation to current price levels, using this to start creating a tactical trading plan for the day. This plan will change as price action dictates.
Some general guidelines :
- Do not ever let profitable trade go negative.
- Average into a position, as potential S/R levels are more an area target than a point target.
- If I’m right, I’m right. If I’m wrong, I’m out.
- To be consistently profitable, others have to sell after I sell, and buy after I buy.
- Do not over trade. Take breaks, opportunities will present themselves.
- Don’t enter a trade unless I have time to manage it until I exit the trade.
- Off peak hours are less volatile, perhaps more profitable.
Attached File(s)
BRV S+R Trading 210808.pdf
879 KB
|
266 downloads
SR Suppy Demand Equilibrium.zip
1.4 MB
|
334 downloads