My Journey

Hello!

I'll explain a little about myself:
I have my been trading currencies/futures for about a year now. I have had no choice but to trade for a living, and have been successful starting with only a 1k capital.

I trade completely naked. I use no type of risk management, other than using a 5 pip stop. This journal is mainly to keep me on track. If enough people are interested I will share parts of my trading method. My 'edge' allows me to rake in close to 100 pips a day, and I don't stop trading until my target is met.

-Benevolent

Well I started this thread in the journal section, and looks like it got moved to the Rookie Discussion?

Anyways, here are the trades for today:
Short EU @ 1.36786
Closed @ 1.36174 - TP = 70.2 Pips

Short EU @ 1.36375
Closed @ 1.36243 - TP = 13.1 Pips

Total for the day: 83.3 Pips.

Open Plays:
Short EU @ 1.36381(SL @ 1.36381 now); Looking to break a small amount of support.
Update - Price started to consolidate. Good indication that price was not going to break support. Will be looking for long plays for the rest of the day. Time to go enjoy the weather

Yes I would like to hear more about your trading method. Thank you.


Jeff

@jshear

I trade mainly focusing on areas of S/R. I wouldn't recommend this type of trading to everyone as it will mess with every emotional bone in your body.

-Benevolent

Am I reading this right?

5 pip stops, 100 pips a day. I know you said you don't use risk management, but how much do you risk per trade?

I mean, risking 1% would make you pretty rich pretty quick, even with a tiny starting capital.

I trade 1 dollar per pip. I keep it very plain and simple right now.

Took another trade on the EU tonight.

Bullish volume was the main entry:

Long @ 1.36093
Closed @ 1.36293 - TP = 20 pips

An increase amount of volume led to the break of this demand zone about an hour and a half later. Will be looking for weakness or strength in the market for the next move.

-Benevolent

Today's play:

Long @ 1.35666.
Closed @ 1.36109 - TP = 45 pips

Caught the euro bull move early in the morning.

Long @ 1.3357
Closed @ 1.36719 - TP = 117.9 Pips.

Made one trade that hit my SL. There seemed to have just been too much selling pressure at the moment. I got in the trade one more time to take 20 pips.

Long @ 36424
STOPPED @ 1.36375

Long @ 36400
Closed @ 1.36600

Pips for the day: 132.

Hallo Benevolent.
Can you post your tradeshere before you make the trades. If the time is too tight to give the reasons for the trade before you make them, then leave the explanations til after the trade has been completed.
But placing your trade results after the trades have been done will have people complaining.

Hey cyberfx!

I'm not really worried about other people to be honest. This thread is mainly so I can keep myself on track. If people are that interested in my trades, they can see where I bought and where I closed my orders.

Currently shorting the EU @ 1.36412.
Stop loss is moved to 10 pips for this trade because of intraday movements.

I moved my SL to BE when I reached 15 pips. My SL was soon hit afterwards.

Glad you found a way that works for you. Keep it up!!

Thanks for the good vibes!

Was able to catch the nice EU play last night.

Long @ 1.36844
Closed @ 1.37939 - TP = 105.9 pips

Done trading for the day.
Have a great weekend everyone!

I am agree with other poster. You should post your trades BEFORE you make the trades. All the posts are AFTER the trade.

This thread seems to be going in the wrong direction. If it's alright with the admins I would like this thread closed please.

Happy pippin'

Wow are you serious come on. This nice fellow is trying to share and you are ungrateful and disrespectful enough to trash him when he isn't providing you a signal service.

You should be ashamed of yourself.

Benevolent keep it up dude, I agree with what you mentioned earlier about not concerning yourself with others, once you trade off of your own observations of what works for you then things get really interesting.

You mentioned you trade SR. Do you look at SR in a discretionary way, choosing price levels/areas based on touches/swaps or do you look at weekly/daily HLC or both?

And you also mentioned that you use a 5 pip stop, so does that mean you trade 1m price action reversal patterns at supply/demand zones you identified before you start trading?

I like to use volume in my trading, VSA is actually applicable to forex, contrary to popular belief and a huge surprise to me.