Annual Targets: ROI>15% DD<10%

Mr Woozel · Apr 27, 2012

Hello.

I am a novice Forex trader with a very small account of £560.

Starting a journal to record my live trades and progress. Aiming for at least 15% annual return with a drawdown no greater that 10%.

Risk per trade is between 0.5% and 1% unless stated otherwise.
Risk:Reward at least 1:5

Very basic strategy of support and resistance using 4hr and daily charts. No indicators.

Mr Woozel · Apr 29, 2012

Bid placed AUD/USD 1.0450, stop loss 1.0423.

Mr Woozel · Apr 30, 2012

GBP/USD: bid 1.6252, stop loss 1.6220
offer 1.6331, stop loss 1.6365.

Patricia12 · Apr 30, 2012

I think, you set a balance target that can be achieved if you go on right track. How much did you earn so far?

Mr Woozel · Apr 30, 2012

Mr Woozel said:
Bid placed AUD/USD 1.0450, stop loss 1.0423.

Stop loss hit.

Account: £556

Mr Woozel · Apr 30, 2012

EUR/JPY:
bid 105.77, stop loss 105.47
bid 105.52, stop loss 105.27

GBP/USD:
bid 1.6202, stop loss 1.6168

AUD/JPY:
bid 82.77, stop loss 82.47
bid 82.52, stop loss 82.23

Mr Woozel · Apr 30, 2012

Patricia12 said:
I think, you set a balance target that can be achieved if you go on right track. How much did you earn so far?

Hi,

started beginning of April with £600. Made about 5 trades but realised I was risking too much per trade. This made me hesitant to place orders. Therefore missed some nice trades. Don't need a big winrate to hit my annual targets...

Mr Woozel · Apr 30, 2012

Just sold GBP/USD 1.6246, stop loss 162.71

NVP · Apr 30, 2012

this aint going well buddy....you were buying the Yen pairs earlier ? (ie selling yen)

what is your strategy ?

the yen (yellow) is flying today ?

just trying to help........

N

Mr Woozel · Apr 30, 2012

Mr Woozel said:
EUR/JPY:
bid 105.77, stop loss 105.47

Stop loss moved to 105.68

Mr Woozel · Apr 30, 2012

NVP said:
this aint going well buddy....you were buying the Yen pairs earlier ?

what is your strategy ?

N

Only yen order activated so far is bid for EUR/JPY at 105.77 which is at 105.93 at the moment. Stop loss moved to 105.68.

Strategy is just horizontal support/resistance and the occasional trendline. Weekly/daily and sometimes 4hr time frames only.

Don't need a big winrate as risk:reward at least 1:5

NVP · Apr 30, 2012

Mr Woozel said:
Only yen order activated so far is bid for EUR/JPY at 105.77 which is at 105.93 at the moment. Stop loss moved to 105.68.

Strategy is just horizontal support/resistance and the occasional trendline. Weekly/daily and sometimes 4hr time frames only.

Don't need a big winrate as ris.k:reward at least 1:5

ok your frying bigger fish.........good luck

Mr Woozel · Apr 30, 2012

Mr Woozel said:
Stop loss moved to 105.68

EUR/JPY trade stop loss hit for -9 pips.

Cancelled AUD/JPY orders as Australian rate decision tomorrow morning.

Mr Woozel · Apr 30, 2012

Mr Woozel said:
EUR/JPY:
bid 105.52, stop loss 105.27

Stop loss moved to 105.40

Mr Woozel · Apr 30, 2012

Mr Woozel said:
GBP/USD: bid 1.6252, stop loss 1.6220

stop loss hit.

Sell at 1.6246 still open

Mr Woozel · Apr 30, 2012

Mr Woozel said:
Just sold GBP/USD 1.6246, stop loss 162.71

stop loss moved to 1.6261

Mr Woozel · May 1, 2012

Just sold EUR/USD 1.3277, stop loss 1.3310

Mr Woozel · May 1, 2012

Mr Woozel said:
GBP/USD:
bid 1.6202, stop loss 1.6168

bid now actrivated

Mr Woozel · May 1, 2012

Summary of open trades:

GBP/USD:
sold 1.6246, sl now at 1.6261
bought 1.6202, sl 1.6168

EUR/JPY:
bought 135.52, sl now at 135.40

EUR/USD:
sold 1.3277, sl 1.3310

Mr Woozel · May 1, 2012

Mr Woozel said:
Summary of open trades:

GBP/USD:

bought 1.6202, sl 1.6168

stop loss moved to 1.6189

Annual Targets: ROI>15% DD<10%

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