In this thread I will post the trades I enter, as well as possible future trades and the the criteria for entering into them.
We are all different people with different mentalities. My methods are what is working for me, in the sense that I am relaxed about most of my trading. This is due to the low leverage and the low risk I take with each trade. I can afford to loose some trades and it will not disrupt my balance.
This is possible since I am scanning along multiple pairs for the best possible set-ups.
My goal is to double the account within a year. If this is done with relatively low DD and a good Sharpe ratio, it its possible to live of forex trading.
I love trading forex, still the main goal is to make money of it. Everything I do is with this in mind.
I try to adhere to the following principles/mind-sets with my trading:
1) Never risk more than 1 % per position.
2) Only enter into position with a realistc R:R ratio of atleast 1:2.
3) Adhere to the stop-loss regime set before entering into the trade.
4) Only enter the trades that is in accordance with my methods and signalling high probability for direction. I risk loosing the 1% of my money everytime i enter into a trade. The set-up must be good before I am willing to take that risk.
5) Never stress about hunting pips. The pips/movement today is not the last.. There will still be movement in the forex markets in the future.
6) Never get emotional when trading, neither when winning og loosing. If you follow your system and lose, you were wrong. Admit that to yourself, get over it and look for new opportunities. When you are winning, keep your feet on the ground and don`t think that you fully master the market.
7) Never get emotional attached to a position or belief of the market.
8) Admit that the market is unpredictable, as an consequence of this try to protect your money as much as possible.
I will post some charts later this weekend. Where I am looking for possible trade set-ups for the coming week. We might have an intersting week ahead.....
We are all different people with different mentalities. My methods are what is working for me, in the sense that I am relaxed about most of my trading. This is due to the low leverage and the low risk I take with each trade. I can afford to loose some trades and it will not disrupt my balance.
This is possible since I am scanning along multiple pairs for the best possible set-ups.
My goal is to double the account within a year. If this is done with relatively low DD and a good Sharpe ratio, it its possible to live of forex trading.
I love trading forex, still the main goal is to make money of it. Everything I do is with this in mind.
I try to adhere to the following principles/mind-sets with my trading:
1) Never risk more than 1 % per position.
2) Only enter into position with a realistc R:R ratio of atleast 1:2.
3) Adhere to the stop-loss regime set before entering into the trade.
4) Only enter the trades that is in accordance with my methods and signalling high probability for direction. I risk loosing the 1% of my money everytime i enter into a trade. The set-up must be good before I am willing to take that risk.
5) Never stress about hunting pips. The pips/movement today is not the last.. There will still be movement in the forex markets in the future.
6) Never get emotional when trading, neither when winning og loosing. If you follow your system and lose, you were wrong. Admit that to yourself, get over it and look for new opportunities. When you are winning, keep your feet on the ground and don`t think that you fully master the market.
7) Never get emotional attached to a position or belief of the market.
8) Admit that the market is unpredictable, as an consequence of this try to protect your money as much as possible.
I will post some charts later this weekend. Where I am looking for possible trade set-ups for the coming week. We might have an intersting week ahead.....
Do not let the cost of being wrong, exceed the prize of beeing right