I will start my daily journal from November 2019 to show that trading forex can be relied upon to earn income according to our needs. The maximum risk that I use is 2% of the balance so that I don’t have to stress if my transaction turns out to be losing. Instead I expect to earn between 2% and 5% of every transaction I make. I use GBP / USD to make transactions in a 1 hour and daily time frame.
4 Nov 2019
Time : 8:25
Buy limit GU from 1,2908 , Target is 150 pips and Stop loss 50 pips. Risk 2% of capital.
Already in @ 1,29133 ., Target is 150 pips and stop loss is 50 pips. Risk is only 2% and target is 2% - 5%.
I always love seeing new journals on the forums. Haha. Good luck with this @christmelo! May the pips be ever in your favor!
Many thanks , lots of green pips for you too.
Result: 2% loss of capital after waiting 2 days.
07 Nov 2019
Time : 11:21
Sell limit @ 1,28823
Target @ 1,27823
Stop @ 1,29323
Risk is 2% of balance.
I entered 1.2863 and shifted my stop loss to 65 pips but the risk remained 2% of the balance.
Currently SL has been shifted to 1.2862 alias +1 . The target is to get an additional profit of 3% to 4% of the balance.
Already closed 63 pips, capital increased by 2.52%.
The beginner's guide to FX trading