Here’s my paper trading plan week 6.
Trade tues and Wed only
Time frames - weekly chart for trend analaysis and daily for trading
Draw out weekly / daily highs and lows on charts
Signals stochastics , Macd confirmation. Ema entry confirmation
Avoid news events for trading
Main objective - protect the position
Stop loss 20 pips
Avergae weekly pips - 40 so far
Why only on Tuesdays and Wednesday?
Eratic and inconsistent
Tuesday and Wednesday are calm and consistence? 
No you’ve miss understood, I find the liquidity is beter
Mid week, the start and end of the week is always inconsistent
In a nutshell, he’s going for days when fundamentals matter least.
medi chew
in a nutshell , thanks for that
because it will bust u.
i wouldnt exclude half a week, though i know many who likes to exclude Friday…
i wouldnt exclude news, as sooner or later there is some news while the position is on. it is more important how you trade it/handle it.
erratic=volatile? if it is, i welcome it. can make money in up market, down market, but cant make on flat chart…i am not a carry trader who look for interest rates to collect.
liquidity? sorry, but i never really had such problem, and i dont think you will have with your positions involved. how much do you trade in a position? 1 lot? 2 lots? this shouldnt be a problem in any day, at any price.
I find Mondays to be the most predictable. Since price will often come to close the weekend gap, you already have a strong clue as to where price will eventually go. Also, a breakout of the Sunday H/L will often lead to strong, profitable rallies.
1 lot
What an evenings trading ( demo ). For all the books youll read and all the info people give you , theres nothing prepares you for the charts when its live
my advice, which im giving myself - practice practice practice , get use to the set ups and go through all scenarios and timeframes - if its not there - dont chase it
Heres one that happened to me today, im on the 1m chart and ive gone long looking at the trend, and I was right - but i set my SL too low, but im on the 1 min chart and it moves real fast, as im reading the markets, its hit some resistance and gone south in a blink of an eye , 8 pips down .
paper Pips today , 2