Okay!!
I have conquered myself and I think this is the first step of money management. Considering this...I start new and this is my journal, my track of whatever I am doing. If I am successful I will do FOREX and if I loose this journal...then I am out. No more casinoing
I am starting with 500 dollars demo account (actually this is the account which dropped from 1000 to 500 dollars in two days). I know the reason for this decline and I know that I am responsible for that.
I am taking no more than 6-10 PIPS in a day, of course with stop loss. Stop loss will not be fixed. I will be just "okay" with every win and will withdraw real 10 dollars from my account....every time I loose (I do not know what I will do with that withdrawn amount but I know that by doing this I am feeling the loss of money from my account)
I am not leaving computer screen during the time when I am in trade. This does not means that I will keep on looking at the blinking PL column like zombies but rather I will do something else, may be some reading.
No matter how much the market looks promising. I am not going back to the charts if during the specific time of trading I have met my PIPS.
No more fun stuff and "kick" out of clicking the mouse here and there
I will make trading as boring and simple as possible. I will decrease my exposure to open positions and therefore risk to as less as possible.
I will not trade more than 1%...but this is question and I still am working on calculating this
I will post each and every trade I took and its result and will post my PL equation every 15 days (starting July 19th)
I have conquered myself and I think this is the first step of money management. Considering this...I start new and this is my journal, my track of whatever I am doing. If I am successful I will do FOREX and if I loose this journal...then I am out. No more casinoing
I am starting with 500 dollars demo account (actually this is the account which dropped from 1000 to 500 dollars in two days). I know the reason for this decline and I know that I am responsible for that.
I am taking no more than 6-10 PIPS in a day, of course with stop loss. Stop loss will not be fixed. I will be just "okay" with every win and will withdraw real 10 dollars from my account....every time I loose (I do not know what I will do with that withdrawn amount but I know that by doing this I am feeling the loss of money from my account)
I am not leaving computer screen during the time when I am in trade. This does not means that I will keep on looking at the blinking PL column like zombies but rather I will do something else, may be some reading.
No matter how much the market looks promising. I am not going back to the charts if during the specific time of trading I have met my PIPS.
No more fun stuff and "kick" out of clicking the mouse here and there
I will make trading as boring and simple as possible. I will decrease my exposure to open positions and therefore risk to as less as possible.
I will not trade more than 1%...but this is question and I still am working on calculating this
I will post each and every trade I took and its result and will post my PL equation every 15 days (starting July 19th)