Hi guys, I dont know how to put the journal on. But I think it is better to put in weekly, so that I can keep tracking of my progress. I start on April 1st and onward. I’m still looking for a strategy that can make profit in the long run. Here is the chart for April-Week 1
April-Week 1
is this a live account or demo?
It is a real account.
so you added another 100 to the account aftre loosing it all?
yup, i ended in MC with 5 bucks balance. Nothing much that I can do about it.
OK- well take it easy while regaining your losses. hope you get a good run during the next while
ok - well it looks like you had 2 big losses. so first explain why you made those losses. if it wasnt for those 2 bigger losses you would not have had to put in much and you might just be breaking even which is a lot better than loosing.
I would guess that its because you traded a larger percentage of your equity and didnt have a stup loss?
am i right?
so thats 2 rules broken.
you need to ensure you dont trade more than about 10 - 20% of your equity (thats my guidelines) each trader has his own rules.
and secondly explain your approach to stop losses - because theres the real issue
well BlueHenry, you are right on those 2 things. I do put a big lot on the trade and my stop loss goes around 60 to 80 pips. I’m still struggling on where should I put SL. So, whenever the price didnt turn into my favor and the lot is big, it’s burned my equity. I guess I’m to greedy. Everytime I make a winning, the tendency to double the lot is higher. Common mistake for a newbie like me.
