I'm starting this journal to document my journey to becoming a successful trader.
The title says it all, my plan is to follow the James16 charts and methods to the letter. I feel that I have enough of a forex newbie "base" to understand all the concepts and put them to use.
My plan is as follows:
1 - Join the James 16 private forum. Watch all the videos and read the materials.
2 - Start a 3-month demo account. I started this one on June 7, 2010
3 - Go live after demonstrating some profitability on the demo account (at the end of 3 months or later).
I've looked at a variety of the threads and materials on James16 and it seems like the biggest challenge is patience. There won't be trades every day, there won't be something to do every day. And I have to be OK with that.
Basic rules:
1 - I'll be looking at the majors and crosses. List:
EURUSD
GBPUSD
USDCHF
USDJPY
USDCAD
AUDUSD
AUDNZD
AUDCAD
AUDCHF
AUDJPY
2 - Daily charts only. I will be monitoring the H1 and H4 for the flow of the market, but all trading decisions will be based on the D1
3 - Each trade size will represent 2% of my trading bankroll
The title says it all, my plan is to follow the James16 charts and methods to the letter. I feel that I have enough of a forex newbie "base" to understand all the concepts and put them to use.
My plan is as follows:
1 - Join the James 16 private forum. Watch all the videos and read the materials.
2 - Start a 3-month demo account. I started this one on June 7, 2010
3 - Go live after demonstrating some profitability on the demo account (at the end of 3 months or later).
I've looked at a variety of the threads and materials on James16 and it seems like the biggest challenge is patience. There won't be trades every day, there won't be something to do every day. And I have to be OK with that.
Basic rules:
1 - I'll be looking at the majors and crosses. List:
EURUSD
GBPUSD
USDCHF
USDJPY
USDCAD
AUDUSD
AUDNZD
AUDCAD
AUDCHF
AUDJPY
2 - Daily charts only. I will be monitoring the H1 and H4 for the flow of the market, but all trading decisions will be based on the D1
3 - Each trade size will represent 2% of my trading bankroll