Hello Forex Factory,
So I have decided to start my own trading journal. Let me explain briefly what the structure of this journal will be:
Every day that I take a trade I will post screenshots and explanations about the trade, reasons for entry and exit, etc. I will also post a screenshot of the account's balance statement to verify that those trades were indeed taken. I will mirror the trades I take on my live mini account on an Oanda demo account which will be the one I will be showing here (I don't feel comfortable posting my live account statement).
Anyway, my trading style is basically intraday trading always in the direction of the overall trend. I use no indicators, so I base my technical analysis strictly off trendlines, price channels, levels of support/resistance, candle stick formations, breakouts, fibonacci retracements, etc. Cutting to the chase: I spot the trend, I mark the levels of significant support/resistance, and then I buy support / sell resistance (upon price action confirmation of course) in the direction of the main trend.
I am a conservative trader so there might be entire weeks where I enter no trade if I dont like what I see on the charts. I am no cowboy so I do like to wait for perfect set ups before entering a trade. I risk a 2% of my account per trade, my usual stop loss is between 20 to 30 pips and my usual target is around 40 to 60 pips. I also scale in and out of a position depending on how price action develops on the 5 minutes chart. I do not trade the news yet (still experimenting with spike trading on another demo account, not much luck so far to be frank). My monthly target is a 5% of equity increase per month, but consistency is the actual goal I am seeking.
Anyway, I am sure you guys will understand my trading style very quickly after posting some screenshots for the first few trades. Please feel free to email me with any questions you may have.
Alright, enough of my rambling. Let the trading begin...
PS: My Forex Factory name, Kuska, has been chosen after my dog's name
So I have decided to start my own trading journal. Let me explain briefly what the structure of this journal will be:
Every day that I take a trade I will post screenshots and explanations about the trade, reasons for entry and exit, etc. I will also post a screenshot of the account's balance statement to verify that those trades were indeed taken. I will mirror the trades I take on my live mini account on an Oanda demo account which will be the one I will be showing here (I don't feel comfortable posting my live account statement).
Anyway, my trading style is basically intraday trading always in the direction of the overall trend. I use no indicators, so I base my technical analysis strictly off trendlines, price channels, levels of support/resistance, candle stick formations, breakouts, fibonacci retracements, etc. Cutting to the chase: I spot the trend, I mark the levels of significant support/resistance, and then I buy support / sell resistance (upon price action confirmation of course) in the direction of the main trend.
I am a conservative trader so there might be entire weeks where I enter no trade if I dont like what I see on the charts. I am no cowboy so I do like to wait for perfect set ups before entering a trade. I risk a 2% of my account per trade, my usual stop loss is between 20 to 30 pips and my usual target is around 40 to 60 pips. I also scale in and out of a position depending on how price action develops on the 5 minutes chart. I do not trade the news yet (still experimenting with spike trading on another demo account, not much luck so far to be frank). My monthly target is a 5% of equity increase per month, but consistency is the actual goal I am seeking.
Anyway, I am sure you guys will understand my trading style very quickly after posting some screenshots for the first few trades. Please feel free to email me with any questions you may have.
Alright, enough of my rambling. Let the trading begin...
PS: My Forex Factory name, Kuska, has been chosen after my dog's name