Important: I do not trade outside bars, i trade engulfing patters. Sorry for the mistake in the thread name
Hey,
First of all i`m not a "real" trader yet.
The reason why i`m posting here my trades is to get more consistence and confidence in my trades and stick to one trading style. I´m now trading about 2 years and the biggest problem that i had in this time, is that i jumped from system to system when i get into a drawdown even when i`m profitable on the sum of my trades.
So i hope this little diary helps me to stay profitable on the long run and perhaps i also can help some other with my experience.
Feel free to post your criticism or tips i won`t take it personaly, i believe in learning through mistakes.
So now to the interesting part ;-) and some charts for you :-P
I´m trading on the 5 min timeframe and learned the basics of my strategy from NiceGuy so all thanks goes to him and his great topic
http://www.forexfactory.com/showthread.php?t=279970
Strategy:
1. Wait for a nice move in the trend direction and a retracement on the EMA`s
- i define the trend with the help of the EMA 13, the EMA 21 and the THV4 Coral.
2. Then you need a engulfing pattern to confirm the signal.
3. Open the trade on the close of the engulfing pattern.
SL = 5 Pips + Spread
TP = 13 - 15 Pips
When i reached +6 pips i put my SL to BE
Trading Session:
09:00 - 11:00 and 14:00 - 18:00 (GMT +2)
I´m at university and work half time so i don`t get every signal but i try to catch the london open every morning.
Money Management:
I risk 2% of my account balance per trade.
If you have any questions please post them or PM me
Hey,
First of all i`m not a "real" trader yet.
The reason why i`m posting here my trades is to get more consistence and confidence in my trades and stick to one trading style. I´m now trading about 2 years and the biggest problem that i had in this time, is that i jumped from system to system when i get into a drawdown even when i`m profitable on the sum of my trades.
So i hope this little diary helps me to stay profitable on the long run and perhaps i also can help some other with my experience.
Feel free to post your criticism or tips i won`t take it personaly, i believe in learning through mistakes.
So now to the interesting part ;-) and some charts for you :-P
I´m trading on the 5 min timeframe and learned the basics of my strategy from NiceGuy so all thanks goes to him and his great topic
http://www.forexfactory.com/showthread.php?t=279970
Strategy:
1. Wait for a nice move in the trend direction and a retracement on the EMA`s
- i define the trend with the help of the EMA 13, the EMA 21 and the THV4 Coral.
2. Then you need a engulfing pattern to confirm the signal.
3. Open the trade on the close of the engulfing pattern.
SL = 5 Pips + Spread
TP = 13 - 15 Pips
When i reached +6 pips i put my SL to BE
Trading Session:
09:00 - 11:00 and 14:00 - 18:00 (GMT +2)
I´m at university and work half time so i don`t get every signal but i try to catch the london open every morning.
Money Management:
I risk 2% of my account balance per trade.
If you have any questions please post them or PM me