Let's see how this thing works

looking to go long @1.2677

didn't triggered my long position

opened a short one 1.2651

closed trades for a 0.6% earning

ready to go short around 1.2500 area

went short @ 1.2644

stpped out for 0.3% loss

looking to go long

l.ong @1.2689

Hello again, the first attempt didn't work good (not because the strategy, but because of me! i was the problem), i decided to try something different, i know i'm a pretty good trader even if i'm not finished, i'm still young and still need a lot to learn; what i noticed in those years of trading is that i'm a pretty good tape reader, i've never trusted this "gift" (i call it gift but it's something everybody can learn just stay in front of the screen and after sometime you'll learn to read it), but today i've decided to change my mind...

So the new system will be based mainly on 1 hour timeframe, i will use Sl and TP but i will change them during the trading session, so you will see that sometimes the trades will last 15 minutes sometimes they will last 3 hours or more.
I opened a demo account for the occasion with a 1000$, but i will trade as my account is 6000$, i do this as a simulation, if things will run good i'll pass to live trading.
I 've decided to put my results here: http://971092.mt4stats.com/ , i'll add comments at the end of the day.
thanks for the attention see you soon! wish me luck!!

Since now my results haven't been the best, but i'm sure i will improve in the next days/weeks

what i'm looking for is to have 40% win rate and to gain twice more than losers.

So far the results have been:

30% wins and a 70% loss ,with a 53$ average gain an a 36$ average loss, MAx DD 350$ (or 5.8%).

Still need to improve a lot, will see in the future!

Today have been a better day

had 6 winners and 4 losses

average gain 56, avg loss 31$

so at the end i've earned 210$, still down 130$, but i'm ready to fight back!

let's see what will bring tomorrow

yesterday i had a loss of 110$ (1.8%) bringng my overall loss to a
-232$(3.8%)

today will try to do better

right now i'm long on eur/usd and i'm earning some good pip!

Started live account, switched to daily timeframe in that way i'll be more "relaxed" looking at price.

Since now on I will write on this journal only at the end of the week or when something happens. Switching to daily slowed a lot my trading, i'm happy with it because i couldn't stand all the day long looking at price too much stress, additionally, the spread even if small (2 pips) can heavily affect your RR, in my case i noticed that it has passed from 3 to 2.7, a 0.3 could appear little but when you make 10 trades a day can make a huge difference at the end of the year.
So daily is my timeframe less stress less commission, on the other side is more "boring" and more "difficult", why more difficult? because i could stay even for 2-3 weeks without seeing a profit, but this is trading... not easy!

About my trades at MT4 stats, i deposited 1000€ on 16th july, but this account is older so sometimes (when i'm not on metatrader) it shows my complete hystory, it shows other trades that i made, but they don't belong to this strategy, i say this just to clearify a little, when you go there look only at trades made after 16th july.

Thanks for the attention, see you tomorrow for the weekly statement!

All right my week ends now. It has been a very good one, i had 3 win and 3 loss, but my average win has been 38€ while my average loss has been 2.52€, so i should feel satisfied, and i'am!! unfortunatly this probably will be not my average week... losses will be many more, i've calculated that my win % should be around 30%, while the RR should be 3 or more... but markets do what they want and the only thing we can do is follow
them!

see ya next week, hopefully will be a good one like this!!
have a great weekend
Bye!!!!

Another week is gone! didn't have great trades, but i'm still up 17€ for the week! WOW!!! Lol.

July: +1.8%
August: +0.3%

now i'm trading a mix of timeframes, if i see a good opportunity i go. Let's see what will happen!!

Oh my God how many stupid things i wrote!!

Finally that i'm really earning money day by day i understand why i was a loser, too much fixed to find the holy grail, having a SL and a TP always in place, you can't trade like that! you have to be flexible, read the tape, try to guess if it will go further in your direction or not, take care of your losses that's the first thing. When you understand how to avoid losses or at least reduce them, money will come easy.
Be patient:
-Before you open a trade be patient, maybe you can find a better place to get in, at the same time be quick to recognize a movement in your direction in that case go for it without second guessing!!
-If the trade doesn't go in your favor be patient, try to read if the trend is changed or if it's just bad timing.
-When taking a profit be patient, most of the time price will come back to test your entry point (not just yours) and then it will go further in your direction, but at the same be quick to close if it doesn't go further in your direction.

I know i said all and nothing, but really, try to be flexible, be patient and quick at the same time, go with the trend but be ready to go countertrend in a minute, it is not easy, but it's possible, it takes a lot of time and a lot of efforts to be profitable.
It is almost an obsession for me, i stopped working for about 1 year just to follow the market staying 15 hours a day in front of a screen just to see my money going to someone else pocket, i've risked my financial safety and my health (a lot of stress involved) struggling to get a profit for two/three weeks and after three days lose it all and some more!!
Now that i'm profitable i don't need to show it in a journal, probably it would be counterproductive to "show" other people if i'm earning or not, money come when it wants to come you can't force it!
Now i trade in a very relaxed way i'm any more struggling to be profitable, money comes by itself because i took care of my losses, i'm still learning and i think it's a never ending process, but if you think about it, life in general is a continuos learning process (when i was working i took many courses to get better even if i was a very good dentist and i was already earning good money)

If you wanna be profitable you have to find your own way, no book, no thread, no one can do it for you.

Acknowledgement to Fti and his thread i really owe something to this guy!

said that don't think to go into his thread and find the way to trade, it doesn't work like that, for me it has been very helpfull to connect some pieces togheter, but i have my own way to trade.

Thanks Forex Factory

posted a new thread in the trading lounge, i think it will be more important then any strategy, journal you will find on forex factory.