Motto:
Livermore quote:
“The only way you get a real education in the market is to invest cash, track your trade, and study your mistakes…. The examination of a losing trade is tortuous but necessary to ensure that it will not happen again.”
I came back to Forex after 4 years pause. Before I tried EAs and indicators with bad results on demo. Now I will trade with real money and mainly use price action and some very simple system.
This will be a journal trading with 3 ducks system by Andy http://forums.babypips.com/free-forex-trading-systems/6580-3-ducks-trading-system.html You can ask him for a free e-book.
This journal is brutally real. I put all my trades, so later I can learn and remind myself my mistakes and weaknesses. No need to sugar coat anything.
I added envelopes to gauge how extended the prices are from MA.
I trade live with LMAX UK.
Risk: 1% of the capital for every trade.
Risk:Reward is 1:2 when price is near MA or 1:1.5 when price is further from the MA.
If my accuracy will be higher than 33-40% I will be earning money.
I recognize existence of such laws:
- Price will extend to certain values from MA. The more extended it is the more probable it will snap back soon and fast.
- There are support and resistance zones, where bears and bulls have parked orders.
- Price in trend has inertia and it will continue its course till large opposite force will stop it.
Wish me perseverance in regular updates 
Constructive comments are welcome.
28.01.2015
Screenshot “2096564844_ LMAX-LiveUK - [GBPUSD.lmx,M5] 2015-01-28 15.58.06”
Screenshot “2096564844_ LMAX-LiveUK - [AUDCAD.lmx,M5] 2015-01-28 16.00.35”
