Just subscribed!
Good luck to you mate! I have my own journal up now too if you're interested.
You got this man!
Thanks mate , and it's good to see another person from Ireland ! Though I'm in the grey skies of Ulster and not the sunny south haha
Just subscribed!
Good luck to you mate! I have my own journal up now too if you're interested.
You got this man!
Pay comes in tomorrow . Gonna load up on the dax (£1 per pip haha)
What percentage of your capital will be risked on this trade mate?
I only like to talk in terms of percentages.
If the percentages are looked after correctly, then the value of the money will take care of itself.
Is there any site aside from finviz where I can see thumbnails of multiple fx charts at once ? Just to scroll very quickly through
Don't get me wrong , percentages are the best way to keep a track of your performance . You can easily see your performance in terms of R, maximum peak to trough drawdown etc .
But when you eventually go live I think percentages are more meaningful on a larger account . Sure making 30% per year with 0.5% risk is great, but not worth your time on a £1000 account unless you're forwarding your results to a prop firm or something .
I'm sure many will disagree but I think when using small accounts it's best to focus on a rough risk per trade in money terms (say £50 when starting ).
On one hand people might freak out if that's 10% risk. At the end of the day though , it's still only £50.
In other words i will begin using £1 a point and after building the account up then slowly revert to focusing on a fixed %.
You know your strategy best my friend, so I will not try to convince you otherwise. I am however here if there is anything I can help with. I only picked up trading 5 months ago though, so you probably know more than I do.
Do you have weekly/monthly targets?
If so, care to share?
No probs mate. No monthly targets , just to keep executing the same setup until I either hit a max drawdown or profit lol.
Edit: i should probably be honest though in saying my goal is to reach £1k per month profit by the end of my accounting training contract (3.5yrs). An extra £10k a year cash covers rent and cigarettes and a car for a year lol. I'm used to working 80 hour weeks minimum wage to earn £1500 a month , so honestly my monetary goals aren't that high (fortunately ?)
Whoa!
80 hrs per week!
Certainly earning your money
Haha that was my last job I had for years. Currently enjoying a cushy accounting gig with a nice big firm lol
Ahh...much better
Nobody could keep that sort of thing up for too long and still remain "intact".
I personally would like to be a bit busier.
Long-term unemployment sucks the life out of a person.
Hopefully I can learn a thing or two from this journal
Hopefully speed up my training period :smart:
Yeh no promises lol. This is just an honest attempt at a side hustle
Inspiration can come from anywhere :cheesy:
Here's an example of a perfect flag: best entry would be the first green candle after the coiling