hello folks,
I am member now for quite some time but did not post too much until now. was busy reading and trying to find my style.
I am between 30 and 40 years old and I have a regular job to earn my bucks for a living.
Because of that I am mainly trading of the 4h chart with daily and weekly tfs as i want to call it general weather situation.
In the future i am planning to do some small side projects as challenges to improve my trading faster.
The purpose of this journal is to keep track of my challenge and force me to take it serious.
I will open a second thread where i will basically outline my trading strategy and will post the link here -->>>> http://www.forexfactory.com/showthread.php?t=527696
I am going to create a virtual account within my main account and allocate 100€ to it.
Trading will be done from the 1M TF with consideration of the 5M and 15M TFs.
I will be using an excel trading journal to keep track of my trades within my virtual account. (downladed this excel file in some other thread)
Trading time is every evening after work, generally not more than 2 hours.
A Fixed Ratio Money Management approach will be used. I will attach the excel sheet which I have created therefor.
From the start I am risking 1 % of my account. The excel file is more or less self explaining. But if there are any questions left I will try to answer them.
Goals:
1. Getting better understanding how the market moves on the lower TFs
2. Faster learning because in lower TFs there should be more possible signals to evaluate
3. With Point 1 and 2 in mind, identifying low risk entries with possible high returns and transfer them to the higher TFs (Possible later challenges)
4. Derived from point 3 create Entry signals for my Trading Platform (Agena Trader) to get a semi automated trading process started
5. Get a better mind set. Learn to avoid overtrading and avoiding of greed and fear.
6. Last but not least is to double my risked amount every day and increase the lotsite every week with the growing equity.
SL and TP:
I am using a SL (otherwise it is not possible for me to determine my risked amount size)
I am not using a fixed TP. I try to let the profits run with a trailing stop until the market decides to take me out.
Some Rules:
This is ment to be my trading journal. Please do not highjack with your trades . Discussions and Questions to why I took a trade are highly appreciated.
I only have some limited time for trading and the journal so i try to answer all questions as good as possible.
I am member now for quite some time but did not post too much until now. was busy reading and trying to find my style.
I am between 30 and 40 years old and I have a regular job to earn my bucks for a living.
Because of that I am mainly trading of the 4h chart with daily and weekly tfs as i want to call it general weather situation.
In the future i am planning to do some small side projects as challenges to improve my trading faster.
The purpose of this journal is to keep track of my challenge and force me to take it serious.
I will open a second thread where i will basically outline my trading strategy and will post the link here -->>>> http://www.forexfactory.com/showthread.php?t=527696
I am going to create a virtual account within my main account and allocate 100€ to it.
Trading will be done from the 1M TF with consideration of the 5M and 15M TFs.
I will be using an excel trading journal to keep track of my trades within my virtual account. (downladed this excel file in some other thread)
Trading time is every evening after work, generally not more than 2 hours.
A Fixed Ratio Money Management approach will be used. I will attach the excel sheet which I have created therefor.
From the start I am risking 1 % of my account. The excel file is more or less self explaining. But if there are any questions left I will try to answer them.
Goals:
1. Getting better understanding how the market moves on the lower TFs
2. Faster learning because in lower TFs there should be more possible signals to evaluate
3. With Point 1 and 2 in mind, identifying low risk entries with possible high returns and transfer them to the higher TFs (Possible later challenges)
4. Derived from point 3 create Entry signals for my Trading Platform (Agena Trader) to get a semi automated trading process started
5. Get a better mind set. Learn to avoid overtrading and avoiding of greed and fear.
6. Last but not least is to double my risked amount every day and increase the lotsite every week with the growing equity.
SL and TP:
I am using a SL (otherwise it is not possible for me to determine my risked amount size)
I am not using a fixed TP. I try to let the profits run with a trailing stop until the market decides to take me out.
Some Rules:
This is ment to be my trading journal. Please do not highjack with your trades . Discussions and Questions to why I took a trade are highly appreciated.
I only have some limited time for trading and the journal so i try to answer all questions as good as possible.
Attached File(s)
