Sorry for the delay, I did say I wanted to make a thread where I versus other traders and make it an open place where my trade journal, plan and my performance will be displayed against other traders. This will allow open discussion for myself and other traders to better ourselves and allow third person view from trader competitors and external sources to open our minds. I hope more attend and make it interesting, me and Alphahavoc will be starting and hope more can follow!
I will deposit 200 USD on 8th Jan 2018 and will revise on 8th Apr 2018, bear with me if I make an error as this will be new to me and I’ll keep it as an accountability to be as honest as I can in my trading journal.
I guess we are going to be on a rough journey in 2018, but it’s going to be interesting!
No… it’s not spoiling the fun
and indeed we can make adjustments
i was just pointing it out in case they didn’t realize
obviously, i assumed they were typing quickly and missed a 0
but i didn’t want to come across like a D head and say "Dude, you typed incorrectly"
so i figured if i said it this way it might come across a bit more polite and subtle
that’s all it was
and i figured they might then edit the original post so it all makes sense
that’s all[quote=“Falstaff, post:4, topic:128536”]
I’m sure we can make due adjustments as appropriate Martin.
No need to let a little thing like that spoil the fun.
Sorry, I did not expect that my application will take 1 to 2 business days to process. Hopefully, I can do some trading on Tuesday or Wednesday.
I will input my trade plan and analysis for the week then!
1.Look at the fundamentals for the day, currently EUR, CHF and GBP have news. Consider the impact.
2. Look at price action for counter currencies, do my technical analysis with stochastic, Support and Resistance, candlestick patterns and triangle formations. If there is a high probability trade,I’ll get involve
3. read the news.
It’s a legal requirement of maximum leverage - most brokers are getting ready for the legislation to pass by already dropping the maximum leverage to 1:50
That’s probably true, leverage is a double edge sword, and also my number one priority is to be concern on how much risk is involved in each of my trades, my rough losses at the moment are $2 for each trade.
I need to start considering currency correlation, carry trade and positional sizing on my trades eventually, most likely.
Main reason is because the US dollar is rather BS. It is rarely trending vs other major currency. Quite unpredictable i would say. But if i think the US dollar is trending i do trade Major pairs.
I still have my EUR/USD from last night running, I have not any research yet, but I know that economic news for EUR is in 3 hours and 5 hours from now.
If the economic data for USD/CHF has the right numbers, it can lead to a high probability trade based on fundamentals. Longer time-frame of 4h + 1d shows a slight uptrend.
USD/CHF did not hit past support, the blue cross on the chart, therefore, If I enter this trade as long, I assume the US economy (base currency) will be stronger than CHF and assume the next fundamental news will be less than expected.
Thanks Ben, just the news i was looking for. You saved me some time. Now, i’m even more sure that this is just a Knee Jerk reaction. Mean reversion for GBPJPY should play out soon enough, probably during the European session. Trading is really tough, i’m starting to feel weary with Forex Trading.
