Hi Everyone,
I've been around the Forex for quite some time now and had some minor success on the way but it ALWAYS ended up in total ruin. I am not ashamed to say that i have blown up around 5-7 accounts and know that my emotions get the best of me every time. My biggest weakness strikes right after a loosing streak. It does not even have to be a big one. 2-5 losers in a row and i am out of my mind and trade position sizes which I KNOW i shouldn't and then .... BOOM, i am out, KO
!
This is the reason I want to start this journal and keep my explorer open for everyone to see. By doing this I recon it will keep me motivated to stay in the game for the long run and stay disciplined (dont want to embarrass myself
). So things I need to Focus on avoiding are listed below from most severe case to the least:
1) Revenge trading
2) Martingaling it up to chase losers (see 1
)
3) Impatience
4) Over trading
5) Moving Stop losses
So, I believe I do manage to keep these emotions in check I can finally build up my account and compound it for the long run.
GOALS: There will be no daily pip or $ goal but i do want to see an increase of 10-15% of my account within a month.
System and Style: I will scalp the market from the minute chart. I will identify the "overall" trend on the 5m and 15m chart and ONLY trade in the direction of the trend on the 1m.
Below Example of my 15m chart:
Basically I trade only with just Support and Resitance + trendlines but do use the 50 smoothed moving average to assist in finding the overall direction.
After Ive marked S+R and identified the trend i switch to the 1m chart and scalp every pullback to my support lines as can be seen in below image:
Thats basically it
So guys if you wish me luck i will jiggle for you
.
Cheers B00bies
I've been around the Forex for quite some time now and had some minor success on the way but it ALWAYS ended up in total ruin. I am not ashamed to say that i have blown up around 5-7 accounts and know that my emotions get the best of me every time. My biggest weakness strikes right after a loosing streak. It does not even have to be a big one. 2-5 losers in a row and i am out of my mind and trade position sizes which I KNOW i shouldn't and then .... BOOM, i am out, KO

This is the reason I want to start this journal and keep my explorer open for everyone to see. By doing this I recon it will keep me motivated to stay in the game for the long run and stay disciplined (dont want to embarrass myself

1) Revenge trading
2) Martingaling it up to chase losers (see 1

3) Impatience
4) Over trading
5) Moving Stop losses
So, I believe I do manage to keep these emotions in check I can finally build up my account and compound it for the long run.
GOALS: There will be no daily pip or $ goal but i do want to see an increase of 10-15% of my account within a month.
System and Style: I will scalp the market from the minute chart. I will identify the "overall" trend on the 5m and 15m chart and ONLY trade in the direction of the trend on the 1m.
Below Example of my 15m chart:
Basically I trade only with just Support and Resitance + trendlines but do use the 50 smoothed moving average to assist in finding the overall direction.
After Ive marked S+R and identified the trend i switch to the 1m chart and scalp every pullback to my support lines as can be seen in below image:
Thats basically it

So guys if you wish me luck i will jiggle for you

Cheers B00bies