trendie
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I seem to wander about these boards, arbitrarily posting on other peoples threads, messing up their flow. I believe the term is "thread tart". 😱
So, I thought I should start my own journal, and show some of my trades, and the mechanism behind them.
Much as I have tried to stay away from T2W, I keep getting drawn back, so I might as well make it formal, and perhaps be useful to other traders, if only to show how not to trade! 😆
My inspiration is Vacos and Leovirgos threads, showing how they go about analysing a trade, taking the trade, then managing it.
Vacos thread;
http://www.trade2win.com/boards/forex-discussion/85722-cable-2010-a.html
Leovirgos thread;
http://www.trade2win.com/boards/forex-discussion/75186-forex-trading-live-calls-set-ups.html
My overriding method is the pullback. I hope to illustrate this magical technique in the coming days and weeks.
EDIT:
To provide context, I prefer to trade mostly GBPUSD (GU), and EURJPY (EJ), and DAX.
I trade the Euro session, approx between 7am-1pm, and the US session, 1-2pm-5pm.
I don't want to scalp, so my indicator settings are designed to take a good chunk out of a session; I currently aim for about 60-pips a trade, for a risk of 20-25 pips. (although, I will, if required, bail out after +30/35).
2 consecutive losses, and I am out until the next session.
My purpose is to get a good balance between;
1: identifying the sessional direction, and staying with it, and not getting whipped/staying out if its choppy
2: achievable daily/session targets against the known average range of a session
3: taking the clear entry, but also having the option for re-entry if I miss the first move.
4: a good balance between risk and reward.
So, I thought I should start my own journal, and show some of my trades, and the mechanism behind them.
Much as I have tried to stay away from T2W, I keep getting drawn back, so I might as well make it formal, and perhaps be useful to other traders, if only to show how not to trade! 😆
My inspiration is Vacos and Leovirgos threads, showing how they go about analysing a trade, taking the trade, then managing it.
Vacos thread;
http://www.trade2win.com/boards/forex-discussion/85722-cable-2010-a.html
Leovirgos thread;
http://www.trade2win.com/boards/forex-discussion/75186-forex-trading-live-calls-set-ups.html
My overriding method is the pullback. I hope to illustrate this magical technique in the coming days and weeks.
EDIT:
To provide context, I prefer to trade mostly GBPUSD (GU), and EURJPY (EJ), and DAX.
I trade the Euro session, approx between 7am-1pm, and the US session, 1-2pm-5pm.
I don't want to scalp, so my indicator settings are designed to take a good chunk out of a session; I currently aim for about 60-pips a trade, for a risk of 20-25 pips. (although, I will, if required, bail out after +30/35).
2 consecutive losses, and I am out until the next session.
My purpose is to get a good balance between;
1: identifying the sessional direction, and staying with it, and not getting whipped/staying out if its choppy
2: achievable daily/session targets against the known average range of a session
3: taking the clear entry, but also having the option for re-entry if I miss the first move.
4: a good balance between risk and reward.
Last edited:
