Hello fellow traders!
A little something about me and my forex past:
I’m 20 years old Bulgarian student and I’m into forex from December 2018.
At first, when I found out about forex I was really into the markets and I was watching a ton of videos and reading a lot of articles trying to find my trading
style and trading plan.
Eventually, I found out Daytrading combined with pure price action suits me the best and I started learning it.
After a while, I started demo but not for a long time because it was a slow process for me and I started backtesting. (I should have started with it)
I was impatient and wanted to start making real progress and thought what a better way than going live (plus I was feeling confident and thought i could make some money while learning)
It was a bad idea because I didn’t actually have a trading plan or good money management and my emotions were not under control (I still don’t have the last 2)
and I was just gambling.
I started with a 250euro account and just entered trades that my guts told me to!
After like a month I have already lost half my balance, withdrew the rest and thought to myself only when I make a trading plan, backtest it, and forward test it in demo
I will open a live account again.
I was doing my forex studies until the end of summer 2019 but when it ended I had to go to college and get a job so I stopped learning forex at all because I didn’t have any free time.
And now because of the Quarantine, I don’t have college or work and I have a LOT of free time so I decided to start over with forex again!
I made up my own “strategy” and backtested it for a week and then forward tested it for 2 weeks and I was pleased with the results. (The results were like 10% return for 1 week)
I know I should have backtested and forward tested more but I was IMPATIENT as always and decided to train my money management, psychology and my trading plan overall with 98 euro account!
I know 98 euro is very little but that’s what I can afford to lose with this pandemic.
Aaand here we are.
My trading “strategy”:
1. Main timeframes: 1h and 15m
2. Draw Support and resistance on higher timeframes(h4 and D1)
3. Buy/sell when price breaks and retraces back to the S/R
4. Or buy/sell when the price bounces off major S/R
5. Check lower timeframes for a better entry
6. Enter trades with at least 1:1 RRR
7. The trend is your friend, so trade with it
8. Good to check Tradingview’s Technical analysis
9. Can exit a trade earlier if it is not looking good
10. If a trade is going good SL can be moved to BE or even in profit
11. When price is near TP move the TP to the next support/resistance and put the SL on the last TP
12. Do not enter trades just because there are not any good setups and DO NOT trade based on emotions!
13.Be patient.
In the link you will find my trading journal in which every trade has been screenshotted when I entered it, when I exited
and most importantly WHY I entered, what my thought wеre when entering, winrate, etc.
This first week was soo bad. It was bad because of my emotional choices so I can only blame ME for being so impatient!
Even though I lost ~25% of my balance in just a week I won’t just give up on forex!
I will do my best to make the next week better than this one in any case!
I hope you guys will take notes from my stupid and IMPATIENT trades! Don’t make my mistakes!
And btw if you have a similar trading strategy and if you want a trading buddy feel free to add me! 
Let me know if you liked this one and you want me to post the results next week as well! Stay safe guys!
My forex journey.xlsx (29.5 KB)
price action is very discretionary trading, today you paint on chart some scenario and tommorow you can see completly different things ( different support resistance level) so it is hartd to backtesting this strategy Regards Greg