Hello fellow traders,
I have been learning how to trade for almost 4 years and have decided to open a live account. Journaling my trades will hopefully help me stick to my trading plan and increase my consistency. I would say my strategy is predominantly short-term swing trading using ICT’s teachings. I will be trading GBP/USD, EUR/USD, AUS/USD, USD/CAD, USD/JPY only.
My goals are to make over 5% a month with DD below 10%.
Entry Rules
EMA – I use EMA’s at 9 and 18 on a daily or 4hr chart to tell me if I should be looking for Buys or Sells. I trade only when the EMA’s are separated. If the EMA 9 is above the EMA 18 I am looking for Buy entries. If the EMA 18 is above the 9 I will be looking for Sell entries. Below are some examples of Buys zones.
Fib OTE - I will be using a Fibonacci retracement for my entry. Between the 62% or 79% (or ICT sweet spot).
Order blocks – Please see an example of a Sell order block below. I will be using blue boxes to outline order blocks on my charts
Asian range – I will only Sell above Asian range low and Buy below Asian Range high. I will show Asian range as purple on my charts
Pivots – I will be using daily pivots and will only be Buying when price is below Central Pivot and Selling when price is above Central Pivot.
Kill Zones – I will only be trading in ICT Kill zones. Predominantly the London Open Kill zone (7am – 9.30am GMT) and New York Open Kill zone (12pm - 2pm GMT).
Oscillator Divergence – I will be using hidden divergence and ICT Stinger. Below is an example of hidden divergence. I will be marking divergence in yellow lines on my charts
S&R – I will be using HTF and LTF highs/lows, pivot lines, big figures, institutional figures, weekly open and previous Asian range highs and lows and support and resistance.
Money Management Rules
[ul]
[li]Always have a Stop loss
[/li][li]Stop loss no more than 35 pips
[/li][li]Never risk more than 2% per trade
[/li][li]Drop to 1% risk after a loss
[/li][li]Drop to 0.5% after 2 consecutive losses
[/li][li]Increase risk as account recovers from losses
[/li][li]Risk to Reward ratio needs to be at least 1:1
[/li][li]Have targets and stop loss predetermined before entry
[/li][li]No more than 4 trades a week
[/li][/ul]
I am using Ayondo as my broker and have a spread-betting account as it is currently tax-free in the UK. As I am not sure if I can post links to my results page I will posting a screenshot of my account at the end of every week.
If I haven’t made anything clear please let me know and I will expand.
GLGT
