So this is very much a work in progress but I am quietly confident with what I've come up and hopeful that it'll produce long term profits.
You don't need many brain cells to figure out how the system works - 80% of it is the Trend Pullback System written by Diesel, with 20% of my own rules to filter entries, as well as following my own TP/SL process, and using 10 pip range bars. The ultimate end goal has been to filter the majority of ranging signals, as a good signal with Trend Pullback can run for significant gain, particularly with range bars. But there needs to be money management with this strategy too, which is something I am still working on. Should the whole thing come together I will quite happily publish a full ruleset and indicators.
For now I am limiting my risk to 1% per trade (and I'll experiment around money management at the same time) with at least 1:1 R/R although usually the R/R ends up being more like 1.5:1 or thereabouts.
My starting balance as of today was €162.08 which is up from my original position, but as I am starting the journal from today I won't count any profit to date. Ironically trade #1 has already lost today so I guess I'll have to add that one later
)
The aim of this journal is for my own self-discipline (a common problem for me in literally everything I do), and a way to look back and find encouragement in the winning trades during bad periods. And of course I'm happy to discuss forex and all kinds of other bollocks with anyone in the thread
I work as an IT trainer 9-5 so there are periods and days where I won't be able to trade at all, and/or publish screenshots but I certainly would hope to be able to at least take one signal a day and update this thread once a day too.
So... on with the show!
You don't need many brain cells to figure out how the system works - 80% of it is the Trend Pullback System written by Diesel, with 20% of my own rules to filter entries, as well as following my own TP/SL process, and using 10 pip range bars. The ultimate end goal has been to filter the majority of ranging signals, as a good signal with Trend Pullback can run for significant gain, particularly with range bars. But there needs to be money management with this strategy too, which is something I am still working on. Should the whole thing come together I will quite happily publish a full ruleset and indicators.
For now I am limiting my risk to 1% per trade (and I'll experiment around money management at the same time) with at least 1:1 R/R although usually the R/R ends up being more like 1.5:1 or thereabouts.
My starting balance as of today was €162.08 which is up from my original position, but as I am starting the journal from today I won't count any profit to date. Ironically trade #1 has already lost today so I guess I'll have to add that one later
)The aim of this journal is for my own self-discipline (a common problem for me in literally everything I do), and a way to look back and find encouragement in the winning trades during bad periods. And of course I'm happy to discuss forex and all kinds of other bollocks with anyone in the thread
I work as an IT trainer 9-5 so there are periods and days where I won't be able to trade at all, and/or publish screenshots but I certainly would hope to be able to at least take one signal a day and update this thread once a day too.
So... on with the show!
