Hello,
First of all I want to thank FF forum and all the people on it. This forum is amazing and the best I’ve seen. Since I am still newbie in forex trading I am creating this forex journal to learn more and track the trades I am taking. I thing that everything you do you have to have your “business plan” and its not only for forex trading. So this is my forex plan.
CHARTS
Currency Major
Time frame 15
Indicators 20 60 EMA, Woodie cci Panel, SideWinder, CZI (chop zone indicator)
PLAN
I am trading price bounce of 20 or 60 EMA.
I will trade in the morning 8 - 12 Gmt +1
RULES
First of all I want to thank FF forum and all the people on it. This forum is amazing and the best I’ve seen. Since I am still newbie in forex trading I am creating this forex journal to learn more and track the trades I am taking. I thing that everything you do you have to have your “business plan” and its not only for forex trading. So this is my forex plan.
CHARTS
Currency Major
Time frame 15
Indicators 20 60 EMA, Woodie cci Panel, SideWinder, CZI (chop zone indicator)
PLAN
I am trading price bounce of 20 or 60 EMA.
I will trade in the morning 8 - 12 Gmt +1
RULES
- We need a trend witch we define with CCI. We need 6 bars above or below 0 line and 1 bar over 100 .
- CZI need to be blue for longs and brown for shorts
- We need to get back to the zero line on cci, and to the 20 or 60 EMA on price
- Then we watch bull and bear fight near EMA
- If we have doji pin or other reversal clues we enter the trade
We put stop loss 15 pips and profit 20 pips + spread
First chart
We have down trend then going back to EMA. We see bear and bull fight and its not over 100 line so its still down trend. We enter the trade with 15 stop and 20 proofit
Second chart
Its an exeption. We have all the criteria near EMA but on CCI we are over 200 and 6 bars below zero line. we could say its down trend but then we are over 200 points on CCI we are in oversold condition also we have here about 60 of fib retracement of previous move so we enter the trade long
"Even a million miles journey starts with one single step"