Hi there,
This journal is mostly for keeping record of my progress. If somebody would like to add his/her 2 cents to this thread I'll be glad. For this purpose I opened small real account which will be published here to monitor my positions as I'm often out of my PC and I prefer to monitor my positions in some "tracker" and not in platform as I ussually feel need to modify my position somehow.
My goal is not to ruin the account and improve my entries. Another goal is to keep losing trades very small and let winners run for a long period of time. Preferable SL size is something between 5-10 pips and after initial momentum in my favour SL will be moved to BE and forgot. My risk will stay constant for some period of time and then will be increased and kept for another period of time. Starting position is 0.01 lot
Most of published trades will be those good ones. Bear in mind that for every good trade there will be much higher number of bad trades. By bad I mean losing however, not every losing trade is a bad trade and every winning trade is a good one.
Example:
It still can be BE trade so take it easy. It might be lost at any time. So no emotions attached to position. It's just money which may be made or lost whenever in my life.
Regards,
Adam
This journal is mostly for keeping record of my progress. If somebody would like to add his/her 2 cents to this thread I'll be glad. For this purpose I opened small real account which will be published here to monitor my positions as I'm often out of my PC and I prefer to monitor my positions in some "tracker" and not in platform as I ussually feel need to modify my position somehow.
My goal is not to ruin the account and improve my entries. Another goal is to keep losing trades very small and let winners run for a long period of time. Preferable SL size is something between 5-10 pips and after initial momentum in my favour SL will be moved to BE and forgot. My risk will stay constant for some period of time and then will be increased and kept for another period of time. Starting position is 0.01 lot
Most of published trades will be those good ones. Bear in mind that for every good trade there will be much higher number of bad trades. By bad I mean losing however, not every losing trade is a bad trade and every winning trade is a good one.
Example:
It still can be BE trade so take it easy. It might be lost at any time. So no emotions attached to position. It's just money which may be made or lost whenever in my life.
Regards,
Adam
Lose small, win BIG