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Pip by pip - my trading journal

Quoting markt
try to trade with smaller lots. Looking for trend in minimum H1 charts. Try trading H1 with a 25 pip stop loss. Allow mentally for a 25 pip loss. You will be surprised if you have a indicator in place that will give you the H1 trend, even a simple MACD. Try it.
Hi Markt,

Thanks for you post. I am not trading with very large lots at the moment. I think you are right in that the mental / pyschological barrier is something I need to overcome.

Also I think that a longer timeframe would be more appropriate. I think I am trying to get too many trades, rather than waiting for longer ones.

Anthony
  • Post #22
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  • Last Post: May 4, 2011 6:56am May 4, 2011 6:56am
Hi Anthony,
I am on the Gold Coast. I aim for 100 pips per day and mainly use 1h & 4h charts.... The AUD/JPY is my favourite followed by the AUS/USD.
Good luck
Meg

Quoting anthonyrae
My first goal in trading FX with this journal will be to reach 50 pips (not all in one go perhaps, although that would be nice)

One method I will be using for short timeframes (15 mins & 30 mins) is a combination of EMA's and Stochastics to signal trends and overbought & sold areas.

I wil be mainly focusing on the following pairs:
GBP/USD
EUR/USD
USD/JPY
AUD/USD
(but if significant trends develop, I'll look at over related crosses)

I live in Melbourne, Australia so the time is +10 GMT (at the moment it's +11 because of daylight savings)...
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