Hello All,
This thread is going to be my trading journal where I will record all trades win or loose. I have to do this for myself. An exercise, to keep myself honest and consistent. I will only trade one method and one price pattern. That's it!
The method I'll follow can be found here - http://www.forexfactory.com/showthread.php?t=345838
I would like to thank 60 MM for his views and sharing his method with us.
There are some slight variations to the method. The changes are:
Timeframe - Daily Only
R:R - No set rr. I will follow the trades and close as per my discretion. If I see market stalling, or potentially changing direction, I will move my stops.
This is based on my experience in the markets over last 5 years. Yes, I will make mistakes. Yes, I will have loosing trades due to this, but this is something I am going to improve on as I move along.
Pattern - Engulfing only (Close above open for long and vice versa for short)
Market - EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, SP500 and Gold only.
Money Management - I'll only open 2 mini contracts per market. Why not a set %? I am not sure, again something which I will work on.
All the best,
PIPMobile
This thread is going to be my trading journal where I will record all trades win or loose. I have to do this for myself. An exercise, to keep myself honest and consistent. I will only trade one method and one price pattern. That's it!
The method I'll follow can be found here - http://www.forexfactory.com/showthread.php?t=345838
I would like to thank 60 MM for his views and sharing his method with us.
There are some slight variations to the method. The changes are:
Timeframe - Daily Only
R:R - No set rr. I will follow the trades and close as per my discretion. If I see market stalling, or potentially changing direction, I will move my stops.
This is based on my experience in the markets over last 5 years. Yes, I will make mistakes. Yes, I will have loosing trades due to this, but this is something I am going to improve on as I move along.
Pattern - Engulfing only (Close above open for long and vice versa for short)
Market - EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, SP500 and Gold only.
Money Management - I'll only open 2 mini contracts per market. Why not a set %? I am not sure, again something which I will work on.
All the best,
PIPMobile