Greetings Traders!
I’m starting this journal to fill the time during the day in-between trades and set-ups. I use a specific strategy built around harmonic patterns within the currency markets.
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[li]Price must test or enter into PRZ’s (Potential Reversal Zone) of completed harmonic pattern.
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[/li][li]The PRZ must also be a stop/limit order block based on previous action/history of reaction.
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[/li][li]The PRZ and order block must be an old resistance yet to become support or old support yet to become resistance for the first time or second time of asking
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[/li][li]Gartley, Bat, Crab and Butterfly patterns only.
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[/li][li]2% account risk and 4% to 6% or more reward.
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[/li][li]1 to 3 trades per day
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The strategy that I have built around harmonic patterns works for me but might not work for others. I have tried/tested various methods in the past which did not work as good for me as this does. I’m not claiming this to be the holy grail, nor am I claiming this to be the right or only way to trade. It is only my way of trading the currency market.
I will be running a [B]demo MyFXbook[/B] account for demonstration purpose to keep track of my progress. I make no secret that this is a demo account as the broker I use for my real account does not support MyFXbook and I prefer my real money broker and their charts over any other broker and MT4 charts.
I do not like nor use MT4 and prefer the ProRealTime charting provided by my real money broker IG.
All trades taken on the demo account are the same trades taken on my real account with the same 2% risk but with a different account balance size. The demo account tracked by MyFXbook is for educational and trade record keeping purposes only.
Thanks for reading my intro.
