I finally got the time to start a trading journal for me to keep track of my trades and be accountable. Trading can be a very lonely business so my hope is people will swing by my thread and that will keep me engaged on this road call Forex.
I decided to name my journal Pippington's Penthouse because one day my trading profits will give me exactly that. I don't hope for it to happen, I know it will happen. I believe that in order to succeed in anything in life you truly have to believe and visualize it happening before it actually will happen.
Although this is not in the trading system, I will give a brief description on how I trade. I use the 5 minute chart for my entry and stop loss. I like to follow the direction of the 5, 15 and 30 minute stochastics. I feel this keeps me on the right side of the market for majority of my trades. I don't expect to win every trade but I don't expect to lose every trade either. This is strictly being done on a demo account for right now as I want to truly master how I trade before I get back into live trading. As of right now I'm testing with risking 5% per trade. I know that's higher than the traditional 2% per trade but I believe in being the flow rather than going with it.
I will try and post at least once per day to share my trading results from that day. Worse case scenario it will be every other day.
I decided to name my journal Pippington's Penthouse because one day my trading profits will give me exactly that. I don't hope for it to happen, I know it will happen. I believe that in order to succeed in anything in life you truly have to believe and visualize it happening before it actually will happen.
Although this is not in the trading system, I will give a brief description on how I trade. I use the 5 minute chart for my entry and stop loss. I like to follow the direction of the 5, 15 and 30 minute stochastics. I feel this keeps me on the right side of the market for majority of my trades. I don't expect to win every trade but I don't expect to lose every trade either. This is strictly being done on a demo account for right now as I want to truly master how I trade before I get back into live trading. As of right now I'm testing with risking 5% per trade. I know that's higher than the traditional 2% per trade but I believe in being the flow rather than going with it.
I will try and post at least once per day to share my trading results from that day. Worse case scenario it will be every other day.