All the duckets
This is my trade journal. The thought is that if I require myself to justify every trade I take, especially in a public forum, then I won't be as vulnerable to taking bad trades as I have been in the past.
I rely on only a few indicators:
3 RSI: GREEN:10 / PURPLE:14 / RED:20
MACD: 12,26,9 (Default)
2 Moving Averages: GREEN:50 / ORANGE:200
Fibonacci Pivot Points Courtesy of Davit. (I'm unable to comment in your thread, so thank you so much for all of your uploads!)
-Aside from these things, I pay attention to Price Action Candles and Fibonacci levels. I also manually map harmonics occasionally.
I've successfully used several indicators. I do use 2 PSARs on my mobile device, but not on the PC platform. I think every indicator has their own benefits. I do occasionally pull one or two out for single use instances, but prefer my base charts to be clean. I do occasionally use tools to help with confirmations.
Risk Management Rules
#1: Protect the money
#2: Protect the money
#3: Protect the money
MAX LOSS will not exceed %2 of total account balance per pair.
MAX POSITIONS will not exceed 3 trades per pair.
I'm not a professional trader. This journal is to track my demo account efforts.
I've had outstanding trades, I've had horrible trades. I've had live accounts and made real profit, and I've destroyed live accounts within 6 hours. The only key is consistency. I've been able to understand what suites my trading style best, and i'm very grateful for that. My entire first year trading, I felt more lost than I do today.
Success is a daily habit.
I always welcome advice from anyone that may have some. I promised myself I would demo trade until I was able to move a 3k account to a 10k account. Currently, I am more or less a break even trader. I'm learning that staying out of the markets is as important as being in them. Patience is key, and very much a teacher.
If you ever feel discouraged in these markets, try understanding that 4-8 years at college will cost you close to or over 6 figures. 4-8 years studying charts and sacrificing a little bit of sleep would be nearly the equivalent (without all of the courses and degree, of course). The education level is the same. It's all about time in the markets.
I hope that more than just holding myself accountable, someone somewhere in the world is able to utilize the information I publish for their own benefit. Someday I will look back on this little footprint I've left and grin at how life was then. Hopefully that happens sooner than later.
The true power of gratitude, a positive outlook and dedication can get you almost anywhere in this lifetime. Don't squander it.
Thank you for being here FF!
This is my trade journal. The thought is that if I require myself to justify every trade I take, especially in a public forum, then I won't be as vulnerable to taking bad trades as I have been in the past.
I rely on only a few indicators:3 RSI: GREEN:10 / PURPLE:14 / RED:20
MACD: 12,26,9 (Default)
2 Moving Averages: GREEN:50 / ORANGE:200
Fibonacci Pivot Points Courtesy of Davit. (I'm unable to comment in your thread, so thank you so much for all of your uploads!)
-Aside from these things, I pay attention to Price Action Candles and Fibonacci levels. I also manually map harmonics occasionally.
I've successfully used several indicators. I do use 2 PSARs on my mobile device, but not on the PC platform. I think every indicator has their own benefits. I do occasionally pull one or two out for single use instances, but prefer my base charts to be clean. I do occasionally use tools to help with confirmations.
Risk Management Rules
#1: Protect the money
#2: Protect the money
#3: Protect the money
MAX LOSS will not exceed %2 of total account balance per pair.
MAX POSITIONS will not exceed 3 trades per pair.
I'm not a professional trader. This journal is to track my demo account efforts.I've had outstanding trades, I've had horrible trades. I've had live accounts and made real profit, and I've destroyed live accounts within 6 hours. The only key is consistency. I've been able to understand what suites my trading style best, and i'm very grateful for that. My entire first year trading, I felt more lost than I do today.
Success is a daily habit.I always welcome advice from anyone that may have some. I promised myself I would demo trade until I was able to move a 3k account to a 10k account. Currently, I am more or less a break even trader. I'm learning that staying out of the markets is as important as being in them. Patience is key, and very much a teacher.
If you ever feel discouraged in these markets, try understanding that 4-8 years at college will cost you close to or over 6 figures. 4-8 years studying charts and sacrificing a little bit of sleep would be nearly the equivalent (without all of the courses and degree, of course). The education level is the same. It's all about time in the markets.
I hope that more than just holding myself accountable, someone somewhere in the world is able to utilize the information I publish for their own benefit. Someday I will look back on this little footprint I've left and grin at how life was then. Hopefully that happens sooner than later.
The true power of gratitude, a positive outlook and dedication can get you almost anywhere in this lifetime. Don't squander it.Thank you for being here FF!
Success is a daily habit
