Here we go,
I am still using my demo account but I want to get serious about it.
I really hope that making a journal will not only help me with my integrity but will also give more experienced traders the opportunity to scold me if they see I am screwing things up or giving suggestion.
I started my trading with an intraday approach.
I was looking at the 1h and 15minutes chart.
I was and still am focusing only on one pair, the big EUR/USD, as I read it is recommended to keep the number of pairs lower at the beginning.
I used to look at the graph and then throw all the possible analysis: candle pattern, support/resistance and various indicator: MACD, Ichimoku, SMA and ADX. Pivot lines too.
Intraday is not the way I want to trade in this time of my life though, as i have a full time job. On EUR/USD I was trading the superposition between the London and the NY session, that is a little bit before 8 till lunch time (I live in Miami).
With the start of the journal I will monitor a more stable and less time demanding approach, I will monitor a swing trading system, keeping it as simple as I can.
I will trade the price bounces on the 24 and 50 SMA and also the times when it cuts through them, basically considering them as trendlines.
I already did some trades in that sense, which could have been way better with better SL and TP, which I am still figuring out with this new approach.
My goal is to net 30 to 50 pips a week, but if I manage to stay neutral/positive for 2 months, even with much less of a profit, I will consider to open a small live account.
Hope to get some giudance from the babypips community!