Murdetrain's Redemption Journey

Hey all, I have just come back from a sabbatical (if you could call it that) after suffering $3000 in losses. Unfortunaetly I let my emotions get the best of me and a trade that lost me $3000, if I held onto it could have made me $5000. Anywho enough about that. I'm starting again after withdrawing all my money, this time with a fresher outlook and much more experience.

Here are my trading rules:
100 pips a week, nothing more than that
I will trade during the london/new york sessions only
I will only put in 3 trades a week
I will be trading the 4h time frame, and the pair will be USD/JPY
I will be using the Ichi indicator, along with BB and SAR. Obviously market sentiment and price action will also be taken into consideration when making trades




Wish me luck on my journey! I have set myself a personal goal of $2500 by the end of the summer so that I will be able to go to the Anthony Robbins seminar held in new york in November, that will probably be my greatest motivaton to stay focused and most importantly keep learning. Any criticisms and posts are welcome

Hi Murdetrain,

It's not a critic, just my 2 cents advice.

All seems good in your rules except the first one.

You would better take what the market gives you each week instead of putting pressure on yourself to make those 100 pips/week.

My (humble) experience has taught me that the most precious rule is to focus on capital preservation before thinking on profits.

We all make that same mistake, we look at what we could earn instead of taking care of what we could lose.

Think about it and good luck.

BT

Haha no problem all advice is welcome. The reason I chose that rule is so that I can put my mind at ease once I have made that goal and dont continue to trade and stress myself out when I have already met my goals