- #128
- Jan 7, 2013 3:06pm Jan 7, 2013 3:06pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
It's a new year. Time for new things. New Efforts! I spend around 15 to 20 dollars a day on breakfast and lunch together while at work. On average that comes out to a max of $440 a month. Lets see if i can offset this expense via forex.
However, this is not an easy task with a small account since it's hard to accept $40 or $50 profit as a decent day's work. The urge to over trade and over leverage, especially when you've previously smashed 25%+ per week. It simply isn't sustainable. I've learned the hard way and I'm a much more cautious trader this year.
Anyway, enough rambling. Looking forward to the new journal GL.
My realization for me in 2013 is that I need to lower my expectations / risk profile and aim for 1% profit per trading day which I believe is very doable.
However, this is not an easy task with a small account since it's hard to accept $40 or $50 profit as a decent day's work. The urge to over trade and over leverage, especially when you've previously smashed 25%+ per week. It simply isn't sustainable. I've learned the hard way and I'm a much more cautious trader this year.
Anyway, enough rambling. Looking forward to the new journal GL.
Testing new idea, some info on 1st page.
April 15th
Will probably just be observing for a week or 2. Next step will to be getting the entry and exit.
Some examples of what i'm looking to do
EJ
EU
Definately room for more than 3 lines on some of the charts but i don't want clutter the charts. Eventually i plan to reduce it to 2 lines and possibly add another pair.
Another thing to note is that it's easy to place lines on the chart after it already happened. There were definately places that price did not go that would have been prime candidates for line placement if i didn't already see where price went. This is the purpose of the forward test.
April 15th
Will probably just be observing for a week or 2. Next step will to be getting the entry and exit.
Some examples of what i'm looking to do
EJ
EU
Definately room for more than 3 lines on some of the charts but i don't want clutter the charts. Eventually i plan to reduce it to 2 lines and possibly add another pair.
Another thing to note is that it's easy to place lines on the chart after it already happened. There were definately places that price did not go that would have been prime candidates for line placement if i didn't already see where price went. This is the purpose of the forward test.
