rc450
Well-known member
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Hi all,
This is a journal which will hopefully see me turn from an impatient and unprofitable gambler into a patient and disiplined trader who is willing to wait on the sidelines for trades that at the very least appear to be high probability.
I'll be trading a live account risking 2% or less on each trade and will be trading, gbp/usd gbp/yen, eur/yen and eur/usd. I also keep an eye on usdx and usdjpy for general direction.
I'll be daytrading using 4hr and 1hr tfs for the bigger picture trading off of horizontal s/r and bounces off of sma's whilst looking for entries using 5min/1min price action and I'll no doubt throw in the odd punt for good measure. My stops will be 20 pips or less.
I've been gambling for about a year now on and off and have managed to dump at least 50% from two seperate accounts, this will be my last account and my last chance, if I haven't managed to turn a profit by year end (providing the account survives that long)then the towel will be thrown in and I walk away defeated.
I will try to update this each trading day and possibly add some charts, at least then you'll be able to see what not to do.
cheers
This is a journal which will hopefully see me turn from an impatient and unprofitable gambler into a patient and disiplined trader who is willing to wait on the sidelines for trades that at the very least appear to be high probability.
I'll be trading a live account risking 2% or less on each trade and will be trading, gbp/usd gbp/yen, eur/yen and eur/usd. I also keep an eye on usdx and usdjpy for general direction.
I'll be daytrading using 4hr and 1hr tfs for the bigger picture trading off of horizontal s/r and bounces off of sma's whilst looking for entries using 5min/1min price action and I'll no doubt throw in the odd punt for good measure. My stops will be 20 pips or less.
I've been gambling for about a year now on and off and have managed to dump at least 50% from two seperate accounts, this will be my last account and my last chance, if I haven't managed to turn a profit by year end (providing the account survives that long)then the towel will be thrown in and I walk away defeated.
I will try to update this each trading day and possibly add some charts, at least then you'll be able to see what not to do.
cheers