Finally i've decided to create my own journal to keep track of my trades and entry resons to learn from mistakes, as i made another one that i promised not to make anymore.
I've started with investment funds which didnt make much money for me and i moved to stocks as it was "volatile" in my opinions back in the day. Heared a lot of stories about milionaires who made it on stocks. However after some time friend of mine said... dude, if you like risk and big money come and see forex. After quick briefing i was still not decided as i knew it was very risky and huge volatility might kill me. Next day i decided i want to try it out. First attempt was epic fail as i lost around 1000$ but... it gave ma w huge kick to get it back from market. I started to learn a lot, read, created a demo account etc. with several success and lack of time i gave a up a little and came back on may. Opened new ECN account and started new demo again with knowledge, some trading plan etc. Finally after nice success i decided to move to live account i had. In one week i made 84% of my account trading during break at work. When i came back to work in took me 3 weeks to loose everything i earned. Now im b/e after friday's loss. No more losses! No more mistakes!
Since today i will post all my trades and all reasons i made every particular entry.
Just looking on the chart, we have hammer on SR i would entry long but... 100pips gap and huge spread (almost 4pips on ECN!) doesnt allow me to entry. Wow, easy 30pips! It just bounced liked a hell while i was writing this. Anyway.. i will wait for gap closing or bounce and thenshort that thing.
My strategy so far is:
candle patterns on S/R levels. Not much fibonacci as it oftens fail unless fibo levels are the same as SR levels. Trendlines are nice but... not as strong and more reliable as SR levels in my opinion. I also start to love PA movements and formations. HH,HL,LH,LL. I use hedge when market goes against me and hardly ever use SL unless im not able to babysit my trade... when i use SL its huge... then the loss is huge as well unless hedging (counter position).
Im going through TAF thread and AOW and loving it so much. I need to study more PA TA and that would be it. I dont understand indicators and i dont use them. I was just reassured that is proper thinking during TAF lecture. How can i make decision on historical data? Indicators have huge lag and in the mean time PA can change as i was observing indicators on historic data.
That's it for the begining. Next post will be trades and my thoughts only.
cheers
I've started with investment funds which didnt make much money for me and i moved to stocks as it was "volatile" in my opinions back in the day. Heared a lot of stories about milionaires who made it on stocks. However after some time friend of mine said... dude, if you like risk and big money come and see forex. After quick briefing i was still not decided as i knew it was very risky and huge volatility might kill me. Next day i decided i want to try it out. First attempt was epic fail as i lost around 1000$ but... it gave ma w huge kick to get it back from market. I started to learn a lot, read, created a demo account etc. with several success and lack of time i gave a up a little and came back on may. Opened new ECN account and started new demo again with knowledge, some trading plan etc. Finally after nice success i decided to move to live account i had. In one week i made 84% of my account trading during break at work. When i came back to work in took me 3 weeks to loose everything i earned. Now im b/e after friday's loss. No more losses! No more mistakes!
Since today i will post all my trades and all reasons i made every particular entry.
Just looking on the chart, we have hammer on SR i would entry long but... 100pips gap and huge spread (almost 4pips on ECN!) doesnt allow me to entry. Wow, easy 30pips! It just bounced liked a hell while i was writing this. Anyway.. i will wait for gap closing or bounce and thenshort that thing.
My strategy so far is:
candle patterns on S/R levels. Not much fibonacci as it oftens fail unless fibo levels are the same as SR levels. Trendlines are nice but... not as strong and more reliable as SR levels in my opinion. I also start to love PA movements and formations. HH,HL,LH,LL. I use hedge when market goes against me and hardly ever use SL unless im not able to babysit my trade... when i use SL its huge... then the loss is huge as well unless hedging (counter position).
Im going through TAF thread and AOW and loving it so much. I need to study more PA TA and that would be it. I dont understand indicators and i dont use them. I was just reassured that is proper thinking during TAF lecture. How can i make decision on historical data? Indicators have huge lag and in the mean time PA can change as i was observing indicators on historic data.
That's it for the begining. Next post will be trades and my thoughts only.
cheers