Hello All,
I am making this journal like many others have had, to keep myself in check and help me track my progress as I try to navigate through this crazy world of forex.
Trading forex for about 2 years now but still learning.
I will post every time I take a position/close a position to the best I can as I do have a 9-6 job.
My strategy is simple, follow the trend on larger time frames. I mainly focus on the 4hr charts so my positions tend to run about 1 day - 2-3 weeks.
Not much indicators used besides CCI & RSI, no moving averages of any sort. Everything else is purely based on price action.
On the money management side, max risk on any position is capped at 2%, my minimum profit target is 3% or 3:2 RR.
Currency pairs traded: All majors and crosses.
Sometimes I will cut losses earlier when I see that my analysis failed, won't wait until my max 2% risk is hit and vice versa on the profit side.
I adjust position size accordingly to my 2% risk and also my stop level. My stops range from 50-150 pips since it is larger time frames.
Now lets see how this goes!
I am making this journal like many others have had, to keep myself in check and help me track my progress as I try to navigate through this crazy world of forex.
Trading forex for about 2 years now but still learning.
I will post every time I take a position/close a position to the best I can as I do have a 9-6 job.
My strategy is simple, follow the trend on larger time frames. I mainly focus on the 4hr charts so my positions tend to run about 1 day - 2-3 weeks.
Not much indicators used besides CCI & RSI, no moving averages of any sort. Everything else is purely based on price action.
On the money management side, max risk on any position is capped at 2%, my minimum profit target is 3% or 3:2 RR.
Currency pairs traded: All majors and crosses.
Sometimes I will cut losses earlier when I see that my analysis failed, won't wait until my max 2% risk is hit and vice versa on the profit side.
I adjust position size accordingly to my 2% risk and also my stop level. My stops range from 50-150 pips since it is larger time frames.
Now lets see how this goes!
Trade what you see, not what you think!
