I have decided to create a new journal to record down my trades from today onwards.
This thread will be used for pure harmonic patterns on Gold, Silver, EURUSD and USDJPY only.
My trading timeframe is 4H and above. Daily seems to work best here however although trades may take a while to hit TP.
I will reveal my trading strategy once I have made it back to break even and I will also set up a trade explorer to test myself.
I feel that it is time to change the description here.
I have proved to myself that I can do it over the past month of trading. My change in occupation has also given me slightly more flexibility and motivation to make money.
I realize what they mean by pick a time frame. Some people are comfortable with extremely long term trades, holding something for days and weeks until it hits their TP, no matter any rise or fall. I don't trade like that. I take my profit the moment I am satisfied with the amount I received regardless of any resistance or support levels. Of course it would be a lot better if I were to train my patience level, but I don't see the need to stay exposed in the market and risk losing money when you can just claim something and run. A 1 pip gain is better than a 1 pip loss.
Trading Strategy:
I only rely on these few things:
- Support and Resistance
- Harmonic Patterns (which would also mean Fibonacci levels)
- RSI (14) - which I use for checking long term overbought or oversold conditions <- Note: I said check, not rely on.
My newer posts from February 2015 onwards are all the way I currently trade which has given me a successful February. I hope that everyone can benefit from this thread as much as I did from learning from my mistakes.
I have also removed my Trade Explorer because I think people are following it because of good numbers, but do not do their due diligence and they stop following me when I'm in huge unrealized losses. I would prefer not to have people looking blindly for signals to follow, but rather people who wish to learn.
People who aim to beg for signals, please leave. Unlike the Gold thread in Interactive Trading, I am not a thread starter who begs or encourages begging for good calls or trade signals. In fact, I rather no one else posts here at all. It gives me a clear mind to trade and prevents people from posting all sorts of ideas and ruining everything. And that is what spoilt that trade in the first place.
Some people may feel, oh what's the big deal about your trade? No one is posting here anyway. Honestly, I would much prefer it that way. After all it is my personal journal for myself to read and reflect and for others to learn if they wish to.
Feel free to PM me asking for any tips or advice if you feel that I am up to the task. I will try and help the best I can. Cheers.
Also decided to begin uploading monthly performance for self-review:
2015 -
January: 19%
February: 113.72%
March: -
I feel that it is time to change the description here.
I have proved to myself that I can do it over the past month of trading. My change in occupation has also given me slightly more flexibility and motivation to make money.
I realize what they mean by pick a time frame. Some people are comfortable with extremely long term trades, holding something for days and weeks until it hits their TP, no matter any rise or fall. I don't trade like that. I take my profit the moment I am satisfied with the amount I received regardless of any resistance or support levels. Of course it would be a lot better if I were to train my patience level, but I don't see the need to stay exposed in the market and risk losing money when you can just claim something and run. A 1 pip gain is better than a 1 pip loss.
Trading Strategy:
I only rely on these few things:
- Support and Resistance
- Harmonic Patterns (which would also mean Fibonacci levels)
- RSI (14) - which I use for checking long term overbought or oversold conditions <- Note: I said check, not rely on.
My newer posts from February 2015 onwards are all the way I currently trade which has given me a successful February. I hope that everyone can benefit from this thread as much as I did from learning from my mistakes.
I have also removed my Trade Explorer because I think people are following it because of good numbers, but do not do their due diligence and they stop following me when I'm in huge unrealized losses. I would prefer not to have people looking blindly for signals to follow, but rather people who wish to learn.
People who aim to beg for signals, please leave. Unlike the Gold thread in Interactive Trading, I am not a thread starter who begs or encourages begging for good calls or trade signals. In fact, I rather no one else posts here at all. It gives me a clear mind to trade and prevents people from posting all sorts of ideas and ruining everything. And that is what spoilt that trade in the first place.
Some people may feel, oh what's the big deal about your trade? No one is posting here anyway. Honestly, I would much prefer it that way. After all it is my personal journal for myself to read and reflect and for others to learn if they wish to.
Feel free to PM me asking for any tips or advice if you feel that I am up to the task. I will try and help the best I can. Cheers.
Also decided to begin uploading monthly performance for self-review:
2015 -
January: 19%
February: 113.72%
March: -
A 1 pip gain is better than a 1 pip loss.