Hi guys,
Im new to forex, but not new to trading,
I tried stock trading for 3 years with live account from swing trading to day trading and blowing my account a couple of times. Risk management was my biggest problem since i was having so much bias on the stock that i was trading.
Thats the time that i think i have to move on to a trading with no bias at all just plain charting.
Ive been studying and reading books about Forex trading , watch youtube videos just to to learn more
I found a mentor and asked him to train me head and shoulder strategy but it wasnt for me ,
He taught me to analyze my trading style, the right time frame for trading and my pros and cons.
So after a couple of months of trading demo. I gained a lot of experience and learned a strategy which fit on my style and work hours since im not a full time trader yet.
Right now, my consistent strategy in demo is “break out from trend line” ,
Risk reward is 1st TP is 1.5R and i move my SL to Entry Price.
2nd TP is 3R
3rd TP is trail stop to have a bigger gain, (1/8 of lot)
Ive linked my new demo account to myfxbook, but its a copy trade of my small live account.
Ill keep posting a journal here every week and someday a daily one. This will help me to be strict in following my trading rules,
I guess this is it for now. gonna rest since i have work early morning.
Suggestions and comment are well appreciated!
Goodluck guys
4 Likes
So its end of the week and im glad im not so tired from work.so ill be able to post some of my previous trades that I plan to trade but wasnt able to put on Ctrader coz i forgot it.
I use tradingview for charting as its easy to the eyes and doin the charting
Sept 1
GBP/AUD
Bullish entry after break from downtrend line
Candle showing Higher high and High low
i was suppose to enter right after the break but i fall asleep while waiting for it so i reenter when i went to retest the trendline
after almost 1 day
after almost
Hit the TP 1 = 1.5R
waiting for it to hit TP 2 = 2R
but I close it as i dont trade with news
2nd Set up
AUD/JPY
break of down trendline
forming Lower Low and Higher Low structure
entered as soon as it closes the last candle below the trendline
Entry
Price went straight to TP = 3R in a day
pretty good trade for this. as it even touches the 4R target
3rd set up
Eur /USD - short
Break of downtrend line / forming Lower low and higher Low
SL set at the Higher low
Touched the TP1 = 1.5R
still waiting for TP2 = 2R
usually i close the trade before the weekend as i dont want to hold any on the weekend
the sizing is not yet correct since im not used to ctrader, but ill fix it soon and trade a little bit bigger to be able to show the scalling TP
So, the trade is still on going as it havent touched the SL or TP, but it already reached the 1.5R and i just decided to move my SL to the last LL. So i still gain from it
Ive just decided to apply for a funded account 25K yesterday.
I think this will help me to be more disciplined as there are more rules to follow in trading. And i will be able to avoid trading the volatility news.
I will link it up to myfxbook trading journal so everyone can see the progress of it.
I still have my own main account coz i hate the partition doing with those funded account. It rips off our total gain.
Hope this works 
finally its my day off from work today, and tried to look at myfxbook account how was it
honestly it was bad since i didnt know how to use c trader at the beginning.
so my trades suck i guess for the account, but ill make it up to it, since im more familiar to it now.
ill put in my trade recap also like yesterday
which was pretty good except my money management. i placed 100 instead of 10. anyway,
Im more focused on my trade strategy how consistent it works
so i traded last night before i went to sleep, i just stayed for about 3 hrs looking for a nice set up
and did some trials also and the result was good with 1.5R target
2 wins and 1 loss… the loss was the trial on trading if the price closes back to 200 EMA
I believe my trade set up is doin good for now , we will see thou
Any suggestion if i should journal here together with my fxbook my funded account?
good or bad? what do you think?
USD/CAD
short - LOSS
tried if my set up work If can still short the pair if it closes above 200EMA
well i guess it didnt work
and the bad thing was my Risk was too big, $100 instead of $10
Now ill just fix it to a constant of 1% or $10 so ill be able to scale out when im gaining.
CAD JPY
Short - WIN 1 :1.5R
price broke the trendline and i simply shorted it.
TP could have reached 3R on this one
EURUSD
short -WIN 1:2R
this trade took me too long and I should have been done with this last 2 days
anyway worth it
So from now on, ill just risk $10 or 1% on every trades
to fix my risk management issue.
hope be able to trade once a day.
Traded NZD USD today
Long
Just as soon as i press the buy it tanked down,
we will see if it hits the SL
Got back in the same trade, NZDUSD
i figured out that was my SL was not right since i was looking at 15min time frame
where my SL should have been looked at 1 hr time frame
