Hey all,
After 6 months of very intense studying and trading, I finally decided it's time to keep a personal journal. I could keep this private but as I'm a person who has an open mindset and is never afraid to learn something from other people I've decided to make it a public journal. I also do like interaction with fellow traders and love to hear others opinions even if I necessarily don't agree with them.
The basis of my strategy is naked price action, finding (fake) support and resistance zones where the MM will look for liquidity to reverse the price. Targets are the most important part about my strategy and I will use robots4me MMdedective indicator for this as it automatically draws tops and bottoms which saves me a lot of time that can go into studying the behavior of the market. For pinpoint entries, I will also use 1M TMA bands and keep notice of liquidity gaps that are being formed as they often get filled.
For now, entries are the most important part of my young trading career and I will keep a tight stop loss of 10-15 pips depending on the pair and will also move the SL to BE whenever I get into profit. Later on, I want to add hedging to increase the success ratio and also profits. Eventually, I will also focus more on improving exits.
After 6 months of very intense studying and trading, I finally decided it's time to keep a personal journal. I could keep this private but as I'm a person who has an open mindset and is never afraid to learn something from other people I've decided to make it a public journal. I also do like interaction with fellow traders and love to hear others opinions even if I necessarily don't agree with them.
The basis of my strategy is naked price action, finding (fake) support and resistance zones where the MM will look for liquidity to reverse the price. Targets are the most important part about my strategy and I will use robots4me MMdedective indicator for this as it automatically draws tops and bottoms which saves me a lot of time that can go into studying the behavior of the market. For pinpoint entries, I will also use 1M TMA bands and keep notice of liquidity gaps that are being formed as they often get filled.
For now, entries are the most important part of my young trading career and I will keep a tight stop loss of 10-15 pips depending on the pair and will also move the SL to BE whenever I get into profit. Later on, I want to add hedging to increase the success ratio and also profits. Eventually, I will also focus more on improving exits.
