Hi Everyone,
I will be posting my trading signals in real time. I trade based on a 1 min chart using high probability supply-demand zone patterns that I have identified over extensive back-testing. These chart-patterns constitute my “edge” at present in the forex market. I will adjust my stake per trade so that I am risking approx.7% of my capital per trade. My Reward:Risk can vary anywhere from 1.5:1 to 5:1. My starting equity is 1432.83 Euro. I do not have a fixed amount to earn per day and trade the Late Asian, European and American sessions. I take the signals (through limit orders) as and when they appear as suggested by Mark Douglas in his book “Trading in the zone”. I credit this book in helping me take the guess work/emotions out of my trading and also change my attitudes towards taking a loss. I am in the transition from a full-time job to full-time trading and I am initially starting off with a small account to work through the psychological traps of depending solely on trading for my income.
My stop-losses are as follows:
E/U- 4 pips (spread 1 pip)
E/J- 6.6 pips (spread 1.6 pip)
G/U- 9 pips (spread 2 pips)
A/U- 9 pips (spread 1 pip)
All spreads are fixed and the above stop losses are the minimum distance that my trading platform will allow. My broker is a spread-betting firm in the UK that I am very happy with. I will post a screen shot of my trading account statement after the completion of the trade. I will not go into any details regarding the repeating chart patterns that I use for my trade entry.
Please note that any trade entries posted by me is not to be taken as trading advice in forex. All the entry signals are solely meant to keep me responsible and accountable to myself in my trading. Wish you all success in your trading.