Hey everyone, I have been trading Forex for over five years now and have primarily focused on price action.
For this trading journal I will be placing one trade per day no matter what. After trading for several years it has become clear to me that emotions and psychology are just as important as understanding the markets. Scalping for me personally does not work as I do not react well to fast paced winning and losing in this hectic market place.
What I will be doing to put less psychological strain on myself is placing one trade per day by going through all my charts during the Asian session everyday. I will then place the best trade I see available based on price action between 8 P.M. - 2 A.M. C.T. with a stop loss and let the trade run with a candle trailing stop.
Here is my first example of a trade I put in on Wednesday night, I am currently up about 40 pips on the short:
For this trading journal I will be placing one trade per day no matter what. After trading for several years it has become clear to me that emotions and psychology are just as important as understanding the markets. Scalping for me personally does not work as I do not react well to fast paced winning and losing in this hectic market place.
What I will be doing to put less psychological strain on myself is placing one trade per day by going through all my charts during the Asian session everyday. I will then place the best trade I see available based on price action between 8 P.M. - 2 A.M. C.T. with a stop loss and let the trade run with a candle trailing stop.
Here is my first example of a trade I put in on Wednesday night, I am currently up about 40 pips on the short:
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