Hello guys. I would just like to clarify that from experience, this thread only serves its purpose as my own personal journal for uploading charts and my trades for me to keep track of. It is in no way liable for any losses for trade copying and therefore trade copying is strongly discouraged here.
I have been using many different trading methods. Most have failed and I have lost a sum. My main goal at the moment is to simply ensure that I breakeven before I look to continue trading or quit trading altogether.
My current trading method involves:
CCI - 14
Stochastic Oscillator - 14,3,3 + 5,3,3
Manual Support and Resistance Rectangles and Lines
Daily Pivots
Weekly Fibonacci Retracements
(this method is also dependent on bigger frame overbought and oversold indicator analysis, not every trade is taken just because it fits the method)
Currently trading all pairs. I do not see the need to take the full peak and trough of the pair. Even earning 5 pips is earning something (depending on your leverage). Most people would not encourage such a way of trading, but everyone has their own style.
I currently have a daily target of 5% or a weekly target of 31% (based on compounding). If my positions are underwater and I fail to meet the target that day, I will not close the trade. I will let it run out because I follow a system where I only buy when it is very overbought or sell when it is very oversold. So I will eventually meet the target, although on another day. Ideally, I will close that position with my daily target x number of days I held the position for. But even if I do not gain back 5% daily, making a profit is still better than making a loss. I'm starting to lose faith in stop losses and I think one should only use them when markets are at extreme highs and lows and are definitely about to pull back or stop losses should be placed way past the highs and lows of a Daily or Weekly candle bar.
Support is well appreciated and opinions are definitely welcome.
Edit: I added the first account that I cleared of losses. I know it says +37.9%, but it was more than that because I was initially losing about 20-30% before I started with this method. Will add the rest in the future.
Edit: Now also added my latest trading method as of 6 June 2014. It isn't perfect in spotting trades or getting maximum profits, but it does well just to let you earn something at the very least.Now considering removing all old posts so as not to confuse myself and anyone reading. Decided to leave posts alone.
I have been using many different trading methods. Most have failed and I have lost a sum. My main goal at the moment is to simply ensure that I breakeven before I look to continue trading or quit trading altogether.
My current trading method involves:
CCI - 14
Stochastic Oscillator - 14,3,3 + 5,3,3
Manual Support and Resistance Rectangles and Lines
Daily Pivots
Weekly Fibonacci Retracements
(this method is also dependent on bigger frame overbought and oversold indicator analysis, not every trade is taken just because it fits the method)
Currently trading all pairs. I do not see the need to take the full peak and trough of the pair. Even earning 5 pips is earning something (depending on your leverage). Most people would not encourage such a way of trading, but everyone has their own style.
I currently have a daily target of 5% or a weekly target of 31% (based on compounding). If my positions are underwater and I fail to meet the target that day, I will not close the trade. I will let it run out because I follow a system where I only buy when it is very overbought or sell when it is very oversold. So I will eventually meet the target, although on another day. Ideally, I will close that position with my daily target x number of days I held the position for. But even if I do not gain back 5% daily, making a profit is still better than making a loss. I'm starting to lose faith in stop losses and I think one should only use them when markets are at extreme highs and lows and are definitely about to pull back or stop losses should be placed way past the highs and lows of a Daily or Weekly candle bar.
Support is well appreciated and opinions are definitely welcome.
Edit: I added the first account that I cleared of losses. I know it says +37.9%, but it was more than that because I was initially losing about 20-30% before I started with this method. Will add the rest in the future.
Edit: Now also added my latest trading method as of 6 June 2014. It isn't perfect in spotting trades or getting maximum profits, but it does well just to let you earn something at the very least.
Attached Image (click to enlarge)
A 1 pip gain is better than a 1 pip loss.
