This thread will be for my own record keeping of success, if that is what it turns out to be. I have never written a journal before, so this is my first time, I may or may not keep up with it, let's wait and see how it pans out.
I have been lurking on the FF forum's for quiet some time and have had mixed results with different methods.
I am currently using a variation of Basic Trading System - Written by Effilang, very well thought out method, check for yourself.
I will be using Fibanocci, but only a 50% line to determine a retracement, guided by the 5 EMA's from the BTS method, all on 4 Hour time frames, nothing lower, I will also glance at the Daily from time to time.
I'm not big on Divergence's, but if I spot one I will pay attention to it and if something breaks out of the ordinary I will act on it, or at least try. I will mostly follow the 'major' trend. I will use basic trend lines and S/R lines to help support my entries. They will be the only indicator's that I will be using.
For those of you who want to understand how this method works, I suggest you check out Effilang's method, BTS - http://www.forexfactory.com/showthread.php?t=71487
First I must offer my thanks to Effilang for his dedication in creating the methods that he did, he has inspired me to keep trying even when I came very close to giving up on Forex after trying to get it right for 3 years.
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UPDATE
========
Alright, for those of you seeking to see my results, I have setup a web site with my Statement and will update it frequently, 2-3 times a week maybe more depending on how active my trades are.
I have been posting possible trades in my posts - So I've decided that I will only post trades that I am triggered on and will post it once it's triggered and won't display the results, you may check my results on this web site
http://brotraders.bravehost.com/
As for the pairs that I am going to choose, I am not entirely sure yet, I don't want to limit myself, so time will settle which pairs work best for me.
=====================
Here goes,
VB,
=====================
RESULTS
=====================
6/10/08-10/10/08 = +363 Pips
13/10/08-17/10/08 = +103 Pips
I have been lurking on the FF forum's for quiet some time and have had mixed results with different methods.
I am currently using a variation of Basic Trading System - Written by Effilang, very well thought out method, check for yourself.
I will be using Fibanocci, but only a 50% line to determine a retracement, guided by the 5 EMA's from the BTS method, all on 4 Hour time frames, nothing lower, I will also glance at the Daily from time to time.
I'm not big on Divergence's, but if I spot one I will pay attention to it and if something breaks out of the ordinary I will act on it, or at least try. I will mostly follow the 'major' trend. I will use basic trend lines and S/R lines to help support my entries. They will be the only indicator's that I will be using.
For those of you who want to understand how this method works, I suggest you check out Effilang's method, BTS - http://www.forexfactory.com/showthread.php?t=71487
First I must offer my thanks to Effilang for his dedication in creating the methods that he did, he has inspired me to keep trying even when I came very close to giving up on Forex after trying to get it right for 3 years.
========
UPDATE
========
Alright, for those of you seeking to see my results, I have setup a web site with my Statement and will update it frequently, 2-3 times a week maybe more depending on how active my trades are.
I have been posting possible trades in my posts - So I've decided that I will only post trades that I am triggered on and will post it once it's triggered and won't display the results, you may check my results on this web site
http://brotraders.bravehost.com/
As for the pairs that I am going to choose, I am not entirely sure yet, I don't want to limit myself, so time will settle which pairs work best for me.
=====================
Here goes,
VB,
=====================
RESULTS
=====================
6/10/08-10/10/08 = +363 Pips
13/10/08-17/10/08 = +103 Pips