A very warm welcome to my trading journal:
About myself:
My name is Ghous, and i am 18 years old. i heard abt forex some 5 years back but started to take it seriously and got educated in this department in Dec 2006, after a good 3 months of reading and learning i opened a demo account with fxopen in feb 2007. 8 months down the road i blew up 2 demo accounts and increased 1 by 300%. I now seriosuly want to pursue trading full time at some point in future.
the reason for the journal:
The reason is simple that i want to keep a proper record of how i progress with the main objective in mind, plus to have it in a safe place where the whole world can see what i am doing (this should also refrain me from doing something stupid).
The objective:
This trading journal is a result of an idea i came up with. As improbable as it sounds the aim is to start with an amount as little as $17 and convert this into $1000. Instead of doing it on my own i decided to make it public for you all to see if it can be done, honestly even i have no idea if the aim can be achived but keeping all humanly factors out of the question there is nothing impossible abt this objective and i thus stay motivated. The challenge ofcaorse is to try and achieve the four figure mark when i am a human and without ample experience to heavily rely upon however i do hope that no matter what the outcome maybe i atleast learn something and make something out of this entire act.
How I trade:
I am strictly a technical trader and my trading is based entirely on price action, i trade with trendlines, ppzs, and a macd to spot divergences. I am a fan of James16 (so you know where i come from). I like clean and simple charts and try to let price show me the way. I generally trade only the 4H the daily and the weekly time frames and all of my trades will be taken on these tfs only and obviously you won't see me cluttering this thread up with trades. I trade the Eur/Usd, Gbp/Usd, Usd/Chf, Usd/jpy, Usd/cad, Gbp/Jpy and the Eur/Jpy.
How will i go abt posting in the journal:
Each of my tardes i take will be numbered 1,2,3,4,5,6..and so on till we reach $1000 and each trade will have a seperate chart posted just after i take the entry, updates will be posted as and when the trade develops. I will not post any analysis or possible entries regarding any pair obviosuly because i am not running a system thread but rather a trading journal which needs to have all that i do and not what i "think" i should do.
A thing or two abt signal provision:
I want to make it crystal clear that nothing posted here will be with an intention to motivate others to take the same trades i take. it is up to you if you would like to take it as a signal service but let it be clear that i will not be held responsible for any losses that you may incur.
Finally all of this is supposed to be just an experiment of one of the most debatable topics in forex, of how much of a balance does one need to step in the market with, i want to prove it can be done with something as little as $17 and ofcaorse nobody thinks it is actually impossible.
I am open to all kinds of thoughts and comments, advices or points that you think may benefit me in some way, feel extra relaxed in mentioning it out here. Even if there is something against me make sure it is "constructive criticsm" rather than a flat out rude or strong statment.
Welcome once again to my trading journal...Enjoy your stay.
EDIT: I may as well mention that the entire action will be taking place on a live account since obviosuly there is nothing to loose (except $17 in the worst case possible) there is no point in proceeding on a demo...just thought i should clear this early on...
Regards
Ghous.
About myself:
My name is Ghous, and i am 18 years old. i heard abt forex some 5 years back but started to take it seriously and got educated in this department in Dec 2006, after a good 3 months of reading and learning i opened a demo account with fxopen in feb 2007. 8 months down the road i blew up 2 demo accounts and increased 1 by 300%. I now seriosuly want to pursue trading full time at some point in future.
the reason for the journal:
The reason is simple that i want to keep a proper record of how i progress with the main objective in mind, plus to have it in a safe place where the whole world can see what i am doing (this should also refrain me from doing something stupid).
The objective:
This trading journal is a result of an idea i came up with. As improbable as it sounds the aim is to start with an amount as little as $17 and convert this into $1000. Instead of doing it on my own i decided to make it public for you all to see if it can be done, honestly even i have no idea if the aim can be achived but keeping all humanly factors out of the question there is nothing impossible abt this objective and i thus stay motivated. The challenge ofcaorse is to try and achieve the four figure mark when i am a human and without ample experience to heavily rely upon however i do hope that no matter what the outcome maybe i atleast learn something and make something out of this entire act.
How I trade:
I am strictly a technical trader and my trading is based entirely on price action, i trade with trendlines, ppzs, and a macd to spot divergences. I am a fan of James16 (so you know where i come from). I like clean and simple charts and try to let price show me the way. I generally trade only the 4H the daily and the weekly time frames and all of my trades will be taken on these tfs only and obviously you won't see me cluttering this thread up with trades. I trade the Eur/Usd, Gbp/Usd, Usd/Chf, Usd/jpy, Usd/cad, Gbp/Jpy and the Eur/Jpy.
How will i go abt posting in the journal:
Each of my tardes i take will be numbered 1,2,3,4,5,6..and so on till we reach $1000 and each trade will have a seperate chart posted just after i take the entry, updates will be posted as and when the trade develops. I will not post any analysis or possible entries regarding any pair obviosuly because i am not running a system thread but rather a trading journal which needs to have all that i do and not what i "think" i should do.
A thing or two abt signal provision:
I want to make it crystal clear that nothing posted here will be with an intention to motivate others to take the same trades i take. it is up to you if you would like to take it as a signal service but let it be clear that i will not be held responsible for any losses that you may incur.
Finally all of this is supposed to be just an experiment of one of the most debatable topics in forex, of how much of a balance does one need to step in the market with, i want to prove it can be done with something as little as $17 and ofcaorse nobody thinks it is actually impossible.
I am open to all kinds of thoughts and comments, advices or points that you think may benefit me in some way, feel extra relaxed in mentioning it out here. Even if there is something against me make sure it is "constructive criticsm" rather than a flat out rude or strong statment.
Welcome once again to my trading journal...Enjoy your stay.
EDIT: I may as well mention that the entire action will be taking place on a live account since obviosuly there is nothing to loose (except $17 in the worst case possible) there is no point in proceeding on a demo...just thought i should clear this early on...
Regards
Ghous.
I believe . . .
. Fxopen does that on all micro accounts, maybe to keep the encouragment going...
.
