100% Price prediction Journal

I think a general rule of thumb that all traders can agree on is that at the very beginning of every trade you must set appropriate stop loss levels and no matter who you do, never move them. I also don't ever set a stop loss that exceeds what I expect to make in profit. As a trade moves against us even a few pips we get emotionally involved in what is happening and it becomes easier and easier for our minds to play tricks. You need to ask yourself, if I wasn't in this trade now would I take this position?

Your trading system can be mediocre at best, however as long as you employ good money management you can be a profitable trader. I still have a long way to come with my system after years of trading, but I've continued to apply good money management and I am still consistently profitable.

You are doing a good job selecting winners, but you made a terrible choice by moving your stop loss backwards continually. You should have let the trade run its course and right now you'd be in the green .

No unfortunately just because you "employ" good money management doesnt mean a crap system will all of a sudden work out.

There are too many faults in the OPs setup. The standout ones are very poor risk measures (no SL and when one is incorporated it is moved) and very poor Returns on the initial risk, in this case based on a 1000 pip "hard" SL most profits are realised at only about 20% of this making the risk to reward 5:1. The other way around would be nicer. SO the conclusion is that while the ego may get a boost a few months in a row, it just takes a few trades to completely wipe that slate clean and put you back.

So just because all of a sudden you say employ good money management, all it will do for this is make you bleed to death longer. On a positive note though, it is better than blowing up months worth of time and effort. At least a long term bleed allows for a solution before death...

RT

-2330 pips? You cannot be serious? Really? No offense but there's something seriously wrong with your brain. -2330 STRUTH!

LOL

Cut your loosers, don't add to them...
I recommend you to search what "scale in" and "scale out" is. Knowing your R:R never hurts.
Also never move your SL for higher level.If your initial SL is about to be hit-accept this and move forward.
100% is not about forex.
Also when you define your lot size for a trade you need to know your SL... Because you need to choose how much money you can afford to loose on a trade, not how much money you will get if your target would be hit.In other words-you can't just sit and say " oh, I will buy here and my target gonna be 500pips...oh I will trade this on 1 Std lot and take my 5000$ profit!"
Some traders implement so called "free trades"-when price goes in your favor you scale out let them run... so you already pocketed some pips, your SL is on BE+some profit and you have basically risk free trade and can squeeze some more profit.