[I]OK, here is week 5 and 6.[/I]
[B]Week 5 ([/B][B]61.07USD[/B][B])[/B]
That was another good week for a noob like me. I am starting to follow the system’s rules much closer (in previous weeks some parts of the system were simply not clear enough to me). The rest is up to chance… and I know chance is on my side because some smart people have tested the system for me hehe
In the next 3-4 week I’ll be focusing on other non-forex projects, so I won’t be learning new stuff but I’ll keep applying what I know so I don’t lose whatever knowledge I’ve attained so far. I’m sure I can apply the 2618 while doing other stuff since I’m already doing it during my day job. One of the cool things about this system is that you can see the patterns forming hours in advance.
Once I can dedicate more time to forex again I’d like to learn more about chart patterns like head and shoulders, wedges (?), flags etc. as well as harmonic price patterns. Longer term, I want to know more about money management. [B]Recommended reading (books or internet links are fine) or videos are welcome. [/B]
[B]Week 6 ([/B][B]-35.84USD[B])[/B][/B]
This week was interesting although not profitable. Monday to Wednesday I had no 2618 trades at all. That’s the bad thing about having only one system – you may not get enough action, which kinda makes you too eager to enter trades.
Anyway, on Thursday I finally got some valid trade signals but they were mostly losers, big losers on top of that. That got me slightly emotional but I knew that this system is right just a little over 50% of the time so I was able to keep my cool and the next couple of trades were winners which turned a really bad week into a somewhat acceptable one.
As I’ve leaned, enduring some losses is part of trading and also the term drawdown exists because it’s a common experience for most traders. So it’s all cool and I look forward to next week of trading.
From next week I am switching to a new broker, Trade Pro. They were mentioned (not necessarily recommended) by Jason Stapelton in the 2618 video (or maybe some of his other videos, not sure). My initial broker was missing some main pairs I wanted to trade or rather those pairs were in a special category with varying spreads… those spreads were “varying” between 20-50 pips, crazy stuff!