Ok guys.
Starting next week I'm gonna start my FF trading journal.
Here's my background
Have been trading several years now full time.......... It's my sole form of income and I manage quite nicely.
I trade 3 indices and 6 currency pairings Mon - Fri. Those being Dow, FTSE, S&P, E/U, G/U, A/U, U/CAD, U/CHF & E/J.
From a calculation of the previous days price action. I plot 4 lines on the charts (Referred to in future as lines A,B,C & D) Before anyone asks these are not S/R/Pivot or camarilla lines..... It's a calculation of my own, based on previous days price action. They are areas where I like to think that the market will either reverse or break out.
All times on this thread are London UK local time.
I trade from 07:00am through to 4:00pm each day.
I don't deal in pips, I deal in %, so please don't ask how many pips per day/week are attained or lost!
I will post the A,B,C & D line values the evening before or at approx 05:00am for the current day.
Rules of the trade
If price at 07:00 am is higher or lower than A or D it's a no trade day for that particular indice / pairing.
1.If price breaks A by 2 points then go LONG.
2.If price breaks D by 2 points then go SHORT.
3.If price closes above B and then retraces and closes below B then go SHORT.
4.If price closes below C and then retraces and closes above C then go LONG.
Several entries per indice/pairing are possible on each day.
All my charts are set to the M1 timeframe.
Stoplosses
For trade 1 (above) it's 2 points below line B.
For trade 2 (above) it's 2 points above line C.
For trade 3 (above) it's 2 points above line A.
For trade 4 (above) it's 2 points below line D.
Allow for broker spread in each above.
Take Profit
All trades R:R is 1:1.
Money Management
Me personally, I trade 1% per trade MAX.
Any open trades at 4:00pm are closed - REGARDLESS.
Results
Each evening I will post results for that particular day.
As said earlier, I don't deal in pips and my results will be listed as %
eg, DOW -1
E/U +1, -1, +1
U/CAD +1, -1, +1
Total for day = +1 (In other words 1%)
Rules of the thread
1. NO INDICATORS. Please don't start quoting about putting this or that indicator onto the chart to filter bad trades......I'M NOT INTERESTED!!!!!
2. Price feeds from different brokers are different... FACT!!! So please don't try and compare, saying that your Entry, SL or TP wasn't hit when mine was.
3. I don't trade Bank Holidays (UK) or NFP (In fact I don't usually trade the Monday after NFP also)
4. Rudeness, swearing or any anti social behaviour WILL NOT be tolerated on this thread.
5. If A,B,C,D lines are not posted onto thread in the morning it's because, for whatever, reason I'm not trading that day........... There is more to life than sitting in front a screen!!
6. If you decide to trade this also, then I accept no liability for losses or profits incurred.
7. Enjoy the thread.
Starting next week I'm gonna start my FF trading journal.
Here's my background
Have been trading several years now full time.......... It's my sole form of income and I manage quite nicely.
I trade 3 indices and 6 currency pairings Mon - Fri. Those being Dow, FTSE, S&P, E/U, G/U, A/U, U/CAD, U/CHF & E/J.
From a calculation of the previous days price action. I plot 4 lines on the charts (Referred to in future as lines A,B,C & D) Before anyone asks these are not S/R/Pivot or camarilla lines..... It's a calculation of my own, based on previous days price action. They are areas where I like to think that the market will either reverse or break out.
All times on this thread are London UK local time.
I trade from 07:00am through to 4:00pm each day.
I don't deal in pips, I deal in %, so please don't ask how many pips per day/week are attained or lost!
I will post the A,B,C & D line values the evening before or at approx 05:00am for the current day.
Rules of the trade
If price at 07:00 am is higher or lower than A or D it's a no trade day for that particular indice / pairing.
1.If price breaks A by 2 points then go LONG.
2.If price breaks D by 2 points then go SHORT.
3.If price closes above B and then retraces and closes below B then go SHORT.
4.If price closes below C and then retraces and closes above C then go LONG.
Several entries per indice/pairing are possible on each day.
All my charts are set to the M1 timeframe.
Stoplosses
For trade 1 (above) it's 2 points below line B.
For trade 2 (above) it's 2 points above line C.
For trade 3 (above) it's 2 points above line A.
For trade 4 (above) it's 2 points below line D.
Allow for broker spread in each above.
Take Profit
All trades R:R is 1:1.
Money Management
Me personally, I trade 1% per trade MAX.
Any open trades at 4:00pm are closed - REGARDLESS.
Results
Each evening I will post results for that particular day.
As said earlier, I don't deal in pips and my results will be listed as %
eg, DOW -1
E/U +1, -1, +1
U/CAD +1, -1, +1
Total for day = +1 (In other words 1%)
Rules of the thread
1. NO INDICATORS. Please don't start quoting about putting this or that indicator onto the chart to filter bad trades......I'M NOT INTERESTED!!!!!
2. Price feeds from different brokers are different... FACT!!! So please don't try and compare, saying that your Entry, SL or TP wasn't hit when mine was.
3. I don't trade Bank Holidays (UK) or NFP (In fact I don't usually trade the Monday after NFP also)
4. Rudeness, swearing or any anti social behaviour WILL NOT be tolerated on this thread.
5. If A,B,C,D lines are not posted onto thread in the morning it's because, for whatever, reason I'm not trading that day........... There is more to life than sitting in front a screen!!
6. If you decide to trade this also, then I accept no liability for losses or profits incurred.
7. Enjoy the thread.
PREPARATION is PARAMOUNT for PEAK PERFORMANCE....
