Welcome.
I've been thinking about starting a journal here for a while now, so I'm finally going through with it because I keep putting it off.
About Me
My name is Tom and I'm from Toronto. I enjoy long walks on the beach and.... oops, wrong type of journal.
I've been trading the Forex market for a couple of years but more seriously for about a year and a half. In the past, I traded stocks and options on & off for about a year. Don’t let my nickname (moneybags) fool you, it’s more of a wishful thinking type of thing.
How I trade
Some of you may know me from the James16 thread. That's where I usually hang out. I think the education I received in that thread (as well as the Private Forum) has been invaluable to my trading success. Many great people have helped me a lot in there.
I trade using Price Action. I don't use any indicators. I try to keep my charts as empty as possible. The things I use are trendlines, support/resistance (aka PPZs), and fibs on occasion. I like to trade with the trend but will sometimes trade against it. I avoid sideways markets unless something really good comes up. I consider myself fairly conservative (when it comes to trading).
I love Pin bars and also trade various types of breakouts (as well as some other miscellaneous stuff). For exits I usually use trailing stops (not the generic kind) and sometimes price targets. Discretion is used for many entries/exits.
The timeframes I look at are Monthly, Weekly, Daily, and 4 hour. I trade all pairs, 2% risk per trade. (I will obviously go into detail about all my methods as this thread progresses)
In This Journal
In this journal I will post charts of trades I take (or wish I took), setups I'm looking at and other posts with just my ideas/views.
Since I do work a 9-5 (coupled with the fact that I'm a little lazy) most of the charts from trades I've entered won’t be posted right away.
I strongly welcome and encourage participation from all members. I’m always open to other opinions/ideas and feedback (or questions), so feel free to post.
OK, now that we got all that out of the way we can get started with some charts.
Everybody on board? Good. Great! Grand! Wonderful!
NO YELLING IN THE THREAD!!
(for some, that joke will make zero sense)
I've been thinking about starting a journal here for a while now, so I'm finally going through with it because I keep putting it off.
About Me
My name is Tom and I'm from Toronto. I enjoy long walks on the beach and.... oops, wrong type of journal.
I've been trading the Forex market for a couple of years but more seriously for about a year and a half. In the past, I traded stocks and options on & off for about a year. Don’t let my nickname (moneybags) fool you, it’s more of a wishful thinking type of thing.
How I trade
Some of you may know me from the James16 thread. That's where I usually hang out. I think the education I received in that thread (as well as the Private Forum) has been invaluable to my trading success. Many great people have helped me a lot in there.
I trade using Price Action. I don't use any indicators. I try to keep my charts as empty as possible. The things I use are trendlines, support/resistance (aka PPZs), and fibs on occasion. I like to trade with the trend but will sometimes trade against it. I avoid sideways markets unless something really good comes up. I consider myself fairly conservative (when it comes to trading).
I love Pin bars and also trade various types of breakouts (as well as some other miscellaneous stuff). For exits I usually use trailing stops (not the generic kind) and sometimes price targets. Discretion is used for many entries/exits.
The timeframes I look at are Monthly, Weekly, Daily, and 4 hour. I trade all pairs, 2% risk per trade. (I will obviously go into detail about all my methods as this thread progresses)
In This Journal
In this journal I will post charts of trades I take (or wish I took), setups I'm looking at and other posts with just my ideas/views.
Since I do work a 9-5 (coupled with the fact that I'm a little lazy) most of the charts from trades I've entered won’t be posted right away.
I strongly welcome and encourage participation from all members. I’m always open to other opinions/ideas and feedback (or questions), so feel free to post.
OK, now that we got all that out of the way we can get started with some charts.
Everybody on board? Good. Great! Grand! Wonderful!
NO YELLING IN THE THREAD!!
(for some, that joke will make zero sense)
:
