I originally started this post by giving you my history since learning about forex, but it turned out to be more of a short novel then anything else, so i'll stick to the point.
I discovered forex in 2006, shortly followed by my discovery of Forex Factory, and within minutes of that discovery, I found a little section of heaven (or hell) called "Trading Systems". I think most of you will be able to fill in the rest of that story. I traded on and off for about 3 years, but never gave it the focus it needs, before taking a break of 2 years, to where i currently am now.
Few weeks ago i remembered i still had a few hundred dollars in a live account i had, and decided i will start trading again, and won't stop till I've either lost those few hundred dollars, or become rich. Soon i found myself in the "Trading Systems" section, and soon i found myself losing money again, i even had a wonder into the commercial section in desperation. But I said enough is enough, no more systems, no more indicators, i will open my charts and i'll make a decision on what ever makes sense to me at the time, and this is how i plan to teach myself how to trade, instead of spending hours reading 100's of threads, I will spend hours watching the charts, does that not seem like the most logical way to learn how to trade? I can't help but wonder, back in 2006 if all i did was open my charts every single day and just watch price, how much knowledge would i have by now. But we can't dwell in the past, so its my goal from now onwards, to do exactly that, open my charts, and watch (and of course place trades).
So i few rules I'm setting for myself and this journal.
I discovered forex in 2006, shortly followed by my discovery of Forex Factory, and within minutes of that discovery, I found a little section of heaven (or hell) called "Trading Systems". I think most of you will be able to fill in the rest of that story. I traded on and off for about 3 years, but never gave it the focus it needs, before taking a break of 2 years, to where i currently am now.
Few weeks ago i remembered i still had a few hundred dollars in a live account i had, and decided i will start trading again, and won't stop till I've either lost those few hundred dollars, or become rich. Soon i found myself in the "Trading Systems" section, and soon i found myself losing money again, i even had a wonder into the commercial section in desperation. But I said enough is enough, no more systems, no more indicators, i will open my charts and i'll make a decision on what ever makes sense to me at the time, and this is how i plan to teach myself how to trade, instead of spending hours reading 100's of threads, I will spend hours watching the charts, does that not seem like the most logical way to learn how to trade? I can't help but wonder, back in 2006 if all i did was open my charts every single day and just watch price, how much knowledge would i have by now. But we can't dwell in the past, so its my goal from now onwards, to do exactly that, open my charts, and watch (and of course place trades).
So i few rules I'm setting for myself and this journal.
- No indicators, only manually drawn lines, whether they be trend/horizontal doesn't matter.
- Every trade I place from now on will be posted in this thread, with a picture explaining my reasons for taking the trade.
- I will risk 1% per trade till i find i am gaining more skill
- I will update my account balance at the end of every friday
I've started this thread as a place to put down my thoughts and to refer back to previous trades i have taken, track my progress and to just generally help me in my journey to hopefully become successful.
But please feel free to follow this journal or to contribute if you feel you have something to share.
Starting Balance - $400.00 (16/03/2011)
Current Balance - $407.35 (19/03/2001)
