I tell my daughter I’m a low tech man in a high tech world. I tell her it’s hard for me to write things down because I have a long term brain injury from a car accident. She’s an aspiring lawyer and says stop whining and start writing, so when I need to review I have notes. So I started with Baby Pips and so I thought this would be the place to do it.
I’ve been trading about 7 years. I was a full time poker player before a car accident and started on a demo account while recovering. I’m mostly an intraday trader, but I do scalp if the occasion presents as well as swing trade on the longer time frames. I use both tech and fundamental analysis in my trading. Currently, my risk is capped at 5% of trading account with 50% leverage but on swing trades I lower to 3% of account and 25% leverage. If I’m scalping I increase to 10% account balance and 100% leverage. I rate ,my success and failure based on return on investment. Not pips or points. My goal long term is to make profit. For example if I have a good trading week by Thursday, I will very rarely trade Fridays or news.
All my trades start with finding the trend. I use a heat map and 3 moving averages on daily, hourly and 15 minute time frames All 3 moving averages on all 3 time frames must be going in the same direction on all 3 time frames. From thee I fo to my fundamentals. Economic calendar, live forex news feed (ransquak) and usually 3 other analysist sevices. If everything agrees, I map out my exit, entry and take profit areas on a pending order. I manage on the hourly and daily charts and enter on 15 minute charts. I use price action, support and resistance.
So there you have it. I will be entering all my trades on this thread. So if you want to ask me a question have at it. Be respectful and courteous please.