This will be a journal to record my progress, a place to analyse the best and worst trades in order to try and improve my trading skills and a space for other random thoughts on forex.
I trade mostly because I enjoy it but unfortunately don't have much free time to seriously dedicate to it. Because of the lack of time I haven't traded for about a year. So, this will also be an attempt to keep me going by stating some objectives while hopefuly also having some fun and keep learning along the way.
I'll start with a very small account size so any initial mistakes won't be a problem and probably will be adding to the account along the way.
Starting account balance: $103 (14 June 2010)
Target: 20% Growth / month for the fist 12 months
Because of the extremely small account size, maximum risk per trade will be 5% of the account value. If all goes well and the account starts to grow this will be lowered to 3%. This also means I'll initialy avoid taking risky trades and cherry-pick what I believe are the best risk/reward trades.
Although I do not impose restrictions on the currency pairs traded, at first I'll be concentrating on EUR/USD because of the reduced spread.
The target of 20% is agressive, but I believe it is doable. I will be posting weekly balance updates with P&L, comissions (I'm trading with an ECN) and total number of trades (each open and close of a position counts for a trade).
I trade mostly because I enjoy it but unfortunately don't have much free time to seriously dedicate to it. Because of the lack of time I haven't traded for about a year. So, this will also be an attempt to keep me going by stating some objectives while hopefuly also having some fun and keep learning along the way.
I'll start with a very small account size so any initial mistakes won't be a problem and probably will be adding to the account along the way.
Starting account balance: $103 (14 June 2010)
Target: 20% Growth / month for the fist 12 months
Because of the extremely small account size, maximum risk per trade will be 5% of the account value. If all goes well and the account starts to grow this will be lowered to 3%. This also means I'll initialy avoid taking risky trades and cherry-pick what I believe are the best risk/reward trades.
Although I do not impose restrictions on the currency pairs traded, at first I'll be concentrating on EUR/USD because of the reduced spread.
The target of 20% is agressive, but I believe it is doable. I will be posting weekly balance updates with P&L, comissions (I'm trading with an ECN) and total number of trades (each open and close of a position counts for a trade).