I have decided to share my journey, before start to make consistent profit, I will be posting on weekly basis. Before start to make consistent profit, I spent sometime to learn from School of Pipsology.
Thanks!
Hi and welcome to posting. It’s a brave step to publicly open a journal. Please consider this as a constructive comment. I see a graph of USDJPY pair on a MT4 platform. There is a green line at 107 and a red line at about 107. It will really help members (and yourself) if you comment on:
1 The trade idea and set up. Which direction you intend to trade in and why (long or short)
2 What are the criteria you will set up for the trade (entry, stop loss, take profit - or manually track)
3 What are the entry signal and the confirmatory signal (if using confirmation)
4 What is the trade management plan
5 What is the trade exit plan
6 What is the estimated probability of success, the R return and reason
That may be a little heavy for a first response, but it will test if you have a documented plan to enter and manage this trade to exit. I will always be keen to comment because you are probably a month or two ahead of myself in terms of progress, so it will only benefit me to ask these questions, and hope it will also be of use to you too
Hello @Mondeoman
USDJPY chart had nothing to do with trade, I took screenshot while market was closed, I just meant to share progress.
As for trade set up, I’d develop trading system which I could say it’s triangle, if you are interested I will share screenshot of trade I took, it’s less risky, easy to learn and it could make you profitable though return it’s not much big.
At the moment I trade by just studying price behavior, it’s so tiresome but return is somehow nice as compared to past. I do trade and track manually.
Hi mILLN,
Thanks for explaining. It is your trade journal, so please continue posting what you think will help you develop. Well done adding a screen shot to the forum. I am unsure how to do that myself. 