So heres my first journal entry… its time to come out of the shadows and be a little more open in how simple I am trying to be with this trading lark!
So my view which I confess was stolen from some training manual is, Forex trading is simple but the most difficult thing. Trading charts, using averages . candle patterns, seems that once you understand it you’ve got it, thats the simple piece the difficult bit is our emotions. That for me is the most difficult piece.
Anyway that brings me to this journal, I’ve decided writing down trades I’ve completed / trades im keeping an eye on and why will help me focus. Also this morning i looked at a trade i had put on last night and for the love of god of me i cannot figure out why i put it on. So hopefully pasting a couple of pics in here will give me some breathing space.
For clarity I’m on a Demo account. account balance was £5000 to start. When i go live I think I will put only £200 in my first ever account leveraging 5% risk ration per trade, im massively cautious with money. Therefore I am using the same basis on the demo. So im sizing my trades to have stops at £10.
Im looking at price acton candle patterns and support resitances etc. Nothing complicated or particularly intelligent. Hopefully it might develop a little moving forward.
So that me and how and why. PLEASE PLEASE PLEASE feel free to comment / suggest / slag off / tell me how great I am below. Also be interesting if others are spotting the same patterns.