I am starting this as a public Journal which I will maintain every day that I am trading for the purposes of public feedback and accountability with my FX Trading. I will have another one up on elitetrader.com for my E-Mini's trading soon.
I will post all trades with screen shots and track them in the attached Super Trade Tracker that I have created. Please feel free to use this tracker and modify it if you want. I hope that by doing well I will help others do well and by giving me the opportunity to for feedback and accountability I will be able to share my knowledge and we will all benefit.
Objectives
Time/Day to devote to trading
1-2 hours. My currency trading will be geared more toward swing trading with intraday positions being taken in direction of the swing trade for stalking purposes.
When I am trading I can expect to have many distractions, my decisions will be made early morning before work, while at work or at home in the evenings.
Capital: $2500.00 USD on margin with 10k total in reserve. I don't believe in placing my full trading capital with any one broker just enough margin for my plan. I will be basing my position sizing off of the margin at first and then the 10k once I have built my account to 10k.
Strategies to be employed
· Trading trend continuation patterns and reversal patterns that are followed by a confirmation signal.
· I will keep an eye on the fundamentals and take trades that are confirmed by the fundamentals.
· I will also be confirming my trades with inter-market analysis.
* Maintaining a positive Expectancy*
Position Sizing
To initially take 2% risk per trade until I have a buffer of 10% built up, then move up to 4%, no more than 4%.
In order to maximize my profits, adding positions can be done when I’m at a free trade position with the current trade while keeping my open risk no greater than 4% (Or Less).
Exits
· Placing stops above or below the recent swing hi/low or above/below recent resistance.
· Trail stops from the start of the trade while giving trade room to move.
· Maintain a 1-1 Risk/Reward ratio on the trade
· Targets of average 3x my risk and no less than 2x
· Placing stops at break-even when up by 1x my risk.
Psychology
On the day's i'm trading, daily public journaling will take place covering how my made my decisions, performance, and ways I can improve. I maintain a fairly well balanced lifestyle and constantly work at improving myself.
Make wise decisions with health and well-being.
Tracking all results with my Super Trade Tracker each day or at the end of each trade will help me consistently improve.
I will post all trades with screen shots and track them in the attached Super Trade Tracker that I have created. Please feel free to use this tracker and modify it if you want. I hope that by doing well I will help others do well and by giving me the opportunity to for feedback and accountability I will be able to share my knowledge and we will all benefit.
Objectives
Time/Day to devote to trading
1-2 hours. My currency trading will be geared more toward swing trading with intraday positions being taken in direction of the swing trade for stalking purposes.
When I am trading I can expect to have many distractions, my decisions will be made early morning before work, while at work or at home in the evenings.
Capital: $2500.00 USD on margin with 10k total in reserve. I don't believe in placing my full trading capital with any one broker just enough margin for my plan. I will be basing my position sizing off of the margin at first and then the 10k once I have built my account to 10k.
Strategies to be employed
· Trading trend continuation patterns and reversal patterns that are followed by a confirmation signal.
· I will keep an eye on the fundamentals and take trades that are confirmed by the fundamentals.
· I will also be confirming my trades with inter-market analysis.
* Maintaining a positive Expectancy*
Position Sizing
To initially take 2% risk per trade until I have a buffer of 10% built up, then move up to 4%, no more than 4%.
In order to maximize my profits, adding positions can be done when I’m at a free trade position with the current trade while keeping my open risk no greater than 4% (Or Less).
Exits
· Placing stops above or below the recent swing hi/low or above/below recent resistance.
· Trail stops from the start of the trade while giving trade room to move.
· Maintain a 1-1 Risk/Reward ratio on the trade
· Targets of average 3x my risk and no less than 2x
· Placing stops at break-even when up by 1x my risk.
Psychology
On the day's i'm trading, daily public journaling will take place covering how my made my decisions, performance, and ways I can improve. I maintain a fairly well balanced lifestyle and constantly work at improving myself.
Make wise decisions with health and well-being.
Tracking all results with my Super Trade Tracker each day or at the end of each trade will help me consistently improve.
Remember: I DO NOT HAVE TO TRADE TODAY.
Attached File(s)
FX Specialist
