My intention in this journal is to log my attempts to trade Forex markets using a strategy based largely on a couple of MT4 indicators I've developed as an adaptation of NVP's FXCorrelator http://www.trade2win.com/boards/forex-strategies-systems/71854-correlation-trading-basic-ideas-strategies-304.html.
The aim is to record entries & exits (as closely as possible to) as & when I make them, and at the end of the day post charts of any markets I trade. Hopefully this will help me stick as closely as I can to the rules of the strategy I've developed ("ICC" for want of a better name - short for Intraday Currency Comparison), as well as throw some light on its weaknesses.
As such, this journal will primarily be a personal tool to help me examine this sytem, and to see if market correlation is a valid tool to use on such a short time-frame. I don't have any Holy Grain secrets to share and I certainly won't be impressing anyone with my insights & knowledge. I just want an online record of trades which reflect the human elements of actual smalltime spreadbetting (such as time of day, news releases, varying personal attention, server downtime, etc.) far better than any amount of mechanical backtesting can. I'm also too prone to chopping & changing the way I approach trading, so a public journal may help me stick to one system long enough to see if it has any genuine merits.
I'm a hobbyist trader (aka amateur) so time constraints mean I won't catch every entry my system throws up, but I'll probably include all of them on any end-of-day charts for completeness (and to see what I could have won, in the immortal words of Jim Bowen). My notional trading hours are around 8.30 to 12.00 and 13.30 to 17.00 UK time, outside which I won't usually make any entries (unless I've been woken up early, or see a succession of ideal entries at 7am...). I focus mostly on the crosses between $,€,£ & Yen, use 5min charts and never leave a trade on overnight.
Obviously this is a work-in-progress and is as likely to fall flat on its face as anything else out there, so there's not alot of point making any trades based on my posts. If the system proves successful, I'll be astounded enough to think about sharing the details of it but otherwise there's not alot of point: I just want to see if it works at this stage.
The aim is to record entries & exits (as closely as possible to) as & when I make them, and at the end of the day post charts of any markets I trade. Hopefully this will help me stick as closely as I can to the rules of the strategy I've developed ("ICC" for want of a better name - short for Intraday Currency Comparison), as well as throw some light on its weaknesses.
As such, this journal will primarily be a personal tool to help me examine this sytem, and to see if market correlation is a valid tool to use on such a short time-frame. I don't have any Holy Grain secrets to share and I certainly won't be impressing anyone with my insights & knowledge. I just want an online record of trades which reflect the human elements of actual smalltime spreadbetting (such as time of day, news releases, varying personal attention, server downtime, etc.) far better than any amount of mechanical backtesting can. I'm also too prone to chopping & changing the way I approach trading, so a public journal may help me stick to one system long enough to see if it has any genuine merits.
I'm a hobbyist trader (aka amateur) so time constraints mean I won't catch every entry my system throws up, but I'll probably include all of them on any end-of-day charts for completeness (and to see what I could have won, in the immortal words of Jim Bowen). My notional trading hours are around 8.30 to 12.00 and 13.30 to 17.00 UK time, outside which I won't usually make any entries (unless I've been woken up early, or see a succession of ideal entries at 7am...). I focus mostly on the crosses between $,€,£ & Yen, use 5min charts and never leave a trade on overnight.
Obviously this is a work-in-progress and is as likely to fall flat on its face as anything else out there, so there's not alot of point making any trades based on my posts. If the system proves successful, I'll be astounded enough to think about sharing the details of it but otherwise there's not alot of point: I just want to see if it works at this stage.
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!Hopefully this experiment will throw some light on how tenable my ideas are as regards using it.
