Hello Traders, 
This is my Journal that shall document my trades of a tiny $54 live account, god willing.
Why such an insignifant amount ? well...i tried starting with a bigger amount but the universe in it's search for balance and i, in my finite wisdom, managed to bring it down to this tiny amount that somehow instills the correct amount of humility and serenity in me. This account has been dormant for a while now.
"it's not how you start that matters but how you finish..." i'm paraphrasing the Prophet of Islam {saw}. So, with that in mind...lets start...
For those of you that might be interested, i am providing the following info:
1) look up my profile if you like,
2) This is not a teaching nor a trade calling thread nor a thread for beginners, i may however, state my intentions well in advance before taking a trade...and such advance notice may be anywhere from 5min's to 10min's to 15min's or longer.
3) The method i intent using is Price Action as is portrayed by means of Japanese Candlesticks and,
4) their interaction and relationships with four SMA's, viz. 10, 20, 40 & 200b SMA's as well as with the standard 20;2 Bollinger Bands,
5) Horizontal Support and Resistance {HSR} serves as a basis to Entry and Exit signals. HSR are not timeframe specific, but hierarchical, in other words...the HSR zones {HSRZ} on the higher timeframes carry more weight.
6} due to the tiny account, the 5 & 15min's timeframes shall be the staple with the 1hr giving trend direction.
i learned several trading systems and methods from several different traders and investors over several years but Dr. Alexander Elder and Nicolas Darvas stand out. The knowledge i gained from Nicolas Darvas's book of more than half a century ago was more psychological confirmation of my own mistakes then technical and i could identify with his drawbacks because the same things happened to me. lol
7} i intend focusing on the Cable and the EURUSD mainly, other pairs are traded only when their PA and Chart Patterns satisfies my Buy and Sell Setups or my Runner trade setups. To make it clear...any pair whose price action pleases me shall be favoured.
8} participation by other traders are welcome...if you do post chart/s please try not to make them too busy or too scrunched up because my mind shall automatically classify such charts as "not of any use to me"
9} because i live in the best time zone in the world for forex trading
, the vast majority of my trades shall be during the most liquid session that is the African/European session.
10} i trade more than one live account but the $54 account is with FXCM, however, i won't be using their charts...but i shall be using the Metatrader4 charts of three different brokers that have three different timeframes, viz: FXCM Metatrader4 and GCItrading Metatrader4 and Millennium Trader4
...The charts of FXCM MT4 is currently GMT and GciTrading is currently GMT -5 and Millennium is my timeframe...GMT + 2
...That means that FXCM MT4 is 2hrs behind my Central African Time {CAT} and,
... GCI MT4 is 7hrs behind my CAT timeframe.
Trades will be taken off anyone...to clarify, at any one time i may be trading off any of these 3 different platforms in my search for Tradeable Price Patterns the reason being that the candlestick price patterns will obviously differ from platform to platform, especially in the higher time frames.
...should you not understand any of the above, then this thread is not for you, sorry.
11} there will be days {maybe even a week} that i won't be trading, but i will try to place at least one trade per day or should i rather say...one trade per week.
12} lastly, i will try and post most of my entry and exit charts at the time of activating them.
13) and obviously, post my account balance regularly...
This is my Journal that shall document my trades of a tiny $54 live account, god willing.
Why such an insignifant amount ? well...i tried starting with a bigger amount but the universe in it's search for balance and i, in my finite wisdom, managed to bring it down to this tiny amount that somehow instills the correct amount of humility and serenity in me. This account has been dormant for a while now.
"it's not how you start that matters but how you finish..." i'm paraphrasing the Prophet of Islam {saw}. So, with that in mind...lets start...
For those of you that might be interested, i am providing the following info:
1) look up my profile if you like,
2) This is not a teaching nor a trade calling thread nor a thread for beginners, i may however, state my intentions well in advance before taking a trade...and such advance notice may be anywhere from 5min's to 10min's to 15min's or longer.
3) The method i intent using is Price Action as is portrayed by means of Japanese Candlesticks and,
4) their interaction and relationships with four SMA's, viz. 10, 20, 40 & 200b SMA's as well as with the standard 20;2 Bollinger Bands,
5) Horizontal Support and Resistance {HSR} serves as a basis to Entry and Exit signals. HSR are not timeframe specific, but hierarchical, in other words...the HSR zones {HSRZ} on the higher timeframes carry more weight.
6} due to the tiny account, the 5 & 15min's timeframes shall be the staple with the 1hr giving trend direction.
i learned several trading systems and methods from several different traders and investors over several years but Dr. Alexander Elder and Nicolas Darvas stand out. The knowledge i gained from Nicolas Darvas's book of more than half a century ago was more psychological confirmation of my own mistakes then technical and i could identify with his drawbacks because the same things happened to me. lol
7} i intend focusing on the Cable and the EURUSD mainly, other pairs are traded only when their PA and Chart Patterns satisfies my Buy and Sell Setups or my Runner trade setups. To make it clear...any pair whose price action pleases me shall be favoured.
8} participation by other traders are welcome...if you do post chart/s please try not to make them too busy or too scrunched up because my mind shall automatically classify such charts as "not of any use to me"
9} because i live in the best time zone in the world for forex trading
, the vast majority of my trades shall be during the most liquid session that is the African/European session. 10} i trade more than one live account but the $54 account is with FXCM, however, i won't be using their charts...but i shall be using the Metatrader4 charts of three different brokers that have three different timeframes, viz: FXCM Metatrader4 and GCItrading Metatrader4 and Millennium Trader4
...The charts of FXCM MT4 is currently GMT and GciTrading is currently GMT -5 and Millennium is my timeframe...GMT + 2
...That means that FXCM MT4 is 2hrs behind my Central African Time {CAT} and,
... GCI MT4 is 7hrs behind my CAT timeframe.
Trades will be taken off anyone...to clarify, at any one time i may be trading off any of these 3 different platforms in my search for Tradeable Price Patterns the reason being that the candlestick price patterns will obviously differ from platform to platform, especially in the higher time frames.
...should you not understand any of the above, then this thread is not for you, sorry.
11} there will be days {maybe even a week} that i won't be trading, but i will try to place at least one trade per day or should i rather say...one trade per week.
12} lastly, i will try and post most of my entry and exit charts at the time of activating them.
13) and obviously, post my account balance regularly...
.
.