P&P in FX Market

It is Pleasure & Pain in FX market from my view

I like the name as Jacko called it.

1. I would like to journal my trades from now on to keep a record of it.

1. At the end of each month I will summarize my trades.

1. This is an on-going learning process for me.

1. Time Frame: Trades are opened on daily basis & are watched in H4 for editing
2. When: I use "Pending orders" only. So there will be sometime before the positions will be opened OR maybe they won't.
3. How much: The opened position volume is based on a % of equity. One should understand its system to determine how much to risk, specially the maximum of historical draw down. Than you should multiple it by two at least for a reasonable Money Management.
4. Position Details at opening: I'm using a 1:1 Ratio for risk & profit at the opening of my positions so S/L & T/P are the same at first. They are various from day to day to input the volatility in my system.
5. Editing the open position: the T/P will NOT be moved at all costs but I will change the S/L dramatically to B/E as soon as a good move in H4 candle shows itself. Maybe & only Maybe I will protect some profit (very rare) from the price action in ONLY daily time frame.

1. Strong move in one direction: I will enjoy the P.A as it goes along & do better things than trading.
2. S/L Hunting: Means the big boys aren't satisfy with their own money and want more, so they go hunting in the morning. This will cause the market to go in one direction as at end it will close strongly in the other direction. I will put my pending order there waiting for her to give me a ride.
3. Sideways moving: I will not be in the market OR out at B/E.
4. Anyone will suffer a lose someday: The market goes in one direction, Tickling me to put the pending order. Come back & trigger my order than go straight to hell where it came from & hit my S/L causing me a complete risk approved loss. The probability for the market to have the ability to change its direction twice a day is low.