Hi,
I am starting a journal here for myself and others (if they are interested) to keep track of my trades and perhaps discuss the strategy behind them.
I use S/R, a bit of fib, and trendlines as my main tools for trading. I mainly trade off the 5min timeframe but will look all the way up to the daily. Oh and I only trade the EUR/USD.
My goal is 30+ pips per day on average.
I want to mention that the other big tool that we all forget to work on sometimes is the psychological tool. That is easily 70% of the battle here.
Anyway, for my first trade I am looking at the price trying to reach 4680- 4700 as to which point it may retrace a bit. I have a limit sell at 4680. If it can't sustain it's upward pattern and closes below the 4640 mark then I will be looking to get in on a short.
I am starting a journal here for myself and others (if they are interested) to keep track of my trades and perhaps discuss the strategy behind them.
I use S/R, a bit of fib, and trendlines as my main tools for trading. I mainly trade off the 5min timeframe but will look all the way up to the daily. Oh and I only trade the EUR/USD.
My goal is 30+ pips per day on average.
I want to mention that the other big tool that we all forget to work on sometimes is the psychological tool. That is easily 70% of the battle here.
Anyway, for my first trade I am looking at the price trying to reach 4680- 4700 as to which point it may retrace a bit. I have a limit sell at 4680. If it can't sustain it's upward pattern and closes below the 4640 mark then I will be looking to get in on a short.