denz.fx trading journal

Greetings and hello to all,

My names Mike im from Manchester in the UK and this here is the beginning of my trading journal.

Im going to be funding an account with 600 and trading it for the next few years into something significant...I will as time goes by be adding more funds to the account to allow for larger position sizes.

About me
I started getting involved with trading around 2/3 years ago and have been through the usual issues new traders (and some experienced) suffer with.
My goal is simple, growth rate above zero.

How I trade in general
Short to medium term swing trades, so anywhere from a few hours to a few days in a trade. Simply use one moving average, look at a couple time frames and that is it. My risk tolerance as a % of my account is very low. Ideally want to be risking less than 0.5% of my capital with effective leverage of 2:1 my account balance. That means if I have a $1000 equivalent account the max position I am taking is a $2000 position.

What I Trade
At present only Forex

Conclusion
Look forward to journaling my trading here on FF and hopefully interacting with some traders.


Got to run for now...will update soon as to what is happening regarding the above.

So here we are again...

I have funded an account with £500 today. The plan is to possibly add more funds in the near future.

So taken my first trade on the account and its just about to be stopped out. Risking only a small portion of the account, £1.55 risk and a target was in place for £4.60.

Will update soon and post some charts of future trades.

Still in the trade, was close to being stopped out but bounced back.

RR on this is 1:2.9 so not bad but not great either.

So USD/CAD trade hit profit target at 1.3230 --> Here is a picture of the 4H chart as it is now, interesting thing is the target was hit and the high of the day was only a 3 or 4 pips above 1.3230(target)



Also opened a position in GBPCHF last night which is currently in profit but quite some distance from target. I imaging GBPCHF to be open for atleast another 24 to 36 hours. Currently SL and TP set with RR of 1:3.6 --> Will update on GBPCHF.

Doing great bro...keep it up i am following...

The week has ended and all positions were closed out by Friday morning (hit profit target)..

The GBP/CHF trade hit target with a good RR of 1:3.7. Not all trades were profitable, I did enter two "day trades" on Thursday. One EURUSD which closed for a very small profit and a XAU trade which was a loss. Also tried to go long EURJPY but the move has since subsided so that was a loss also.


I think the above shows the importance of having a relatively high RR when trading. I had 5 trades. 2 losses, 1 extremly small profit(relative to risk) and 2 good winners. Ended the week up 2% which I am pleased with.

Will have a look on Sunday night when market opens to see if there are any trades worth taking.

Thanks Mrsaini

GBP/USD - less than 24hrs since putting the trade on.

As always shooting for a relatively high RR. This is 4.8 to 1

EURNZD not looking too good