My treasure quest

Introduction

I believe the journal is the best way to monitor a progress and learn from my mistakes and therefore I decided to throw myself into the water and learn how to swim

About me & the journal

I'm a 20 years old student of economics from Slovenia (Europe) and have been trading for approximately 2 months and I have to say that it already sucked me in I'm going to trade currencies and occasionally stocks or metals (gold & silver) on my demo account at Fx Pro, starting with 5000 equity. I (learn to) trade the methodology james16 teaches. I'd recommend this thread to anyone no matter what method or system you trade. It just skyrocketed my trading knowledge in this short period of time and I believe the best is yet to come In this journal I'm going to post my trades and everything that I'll learn or find insightful (trading related).

Money management, psychology, etc.

I'm going to risk 2% of my total equity on every trade. No exceptions here! I really like the post that ddinov posted here and I'm going to stick to basically the same rules in the beginning and change something at a later stage (if possible of course). As far as risk management is concerned I find this post very useful.

Will add more to this first post later. Feel free to join me on journey. I look forward to your contribution, criticism, etc.

Good Luck on your trading journey here. I wish you all the best.

The rules Ddinov developed are very good. Keep it up !!

Hey M,

Nice to see this step from you,

will be dropping by for sure.

g.

AUD/USD

1. Setup: PB
2. Buy @ 0.8945
3. Initial SL @ 8840
4. First target @ 0.9000
5. Closed @ 0.8946 (Stop Loss)
6. Profit/Loss (pips): 1 pip
7. Profit/Loss (€): 0.79€
8. Equity balance: 5000.79€ (0.01%)

Entered my first trade today. There was a price gap on NZ market opening yesterday evening. Wanted to skip this trade because of that but I decided to play it anyway as I saw that price has gone quite easily through S/R areas (marked on the chart with blue rectangles). Moved my stop loss to BE + 1 (0.8846) when price reached the 0.8975 mark. The price peaked up to 0.8982 and then dropped down to 0.8920. I was stopped by SL at 0.8846. I believe everything has been done good/according to the plan. SL at breakeven saved me from loss.

Thank you! I like the quote under your nickname (It's a marathon, not sprint.)
Feel free to drop by. Will appreciate your contribution

Good luck m. The journal is a big step forward, nice to see you on board.

-- Danny

Thank you! That's why I decided to start a journal. Got some ideas how to keep it from yours