Hello Babypips Community!
My name is Tom, and my background is computer science.
I began to study and practice trading Forex since 2012 as a Part-Time Trader.
Trading is a very hard game so I always study, update my knowledge and trade based on my own analysis and my proven trading system.
My trading system is based on Technical Analysis to follow the Trend not to forecast the Trend according to the trades with high probability.
I also apply Trade Management, Money Management(Never Risk more than 2%), and Trading Journal (Analyze Trades) to have a high percent winning as Forex Trader.
Some of the books I read: Technical Analysis (Murphy), Come into My Trading Room (Elder), The Complete Trading For a Living (Elder), Japanese Candlestick (Nison).
In 2018, I decide to be a Full-Time Forex Trader and trade for a living!
I will post my analyze, trade prepare… in this Trading Journal.
Yes, That’s it. If you have any question, Please send me a message. And Feel free to have any comment.
Thank You and Happy Trading.
Best of luck on your quest man! Wish you all the best. Gonna follow the topic closely. I started my own topic, feel free to check it out. Motivation!
1 Like
hehe… A Fellow Techie huh LOL
How are you mate,
Now why is it that every tech ends up being a TECHNICAL ANALYSIS TRADER hehe… I wonder? 
I’m not going to wish you luck because it’s not luck,
i do wish you well however,
Mate, Forex is nothing but ANOTHER FORM OF TROUBLESHOOTING
it’s like , when you go into an office environment and you need to find the network error but the little bastard won’t reveal itself, but you keep trying to find it… hehe
that’s forex
it’s like when you are trying to ping the network printer and the command shelll says
ping is not a recognized internal commend
and You’re like… WTF hehe
because you don’t understand how permissions work.
that’s forex
Nice chatting mate
wish you well, feel free to share ideas and ask questions, I’ve been doing this for 7 years now.
feel free to ask
1 Like
Best wish and Happy Trading.
@anon81929759
It is difficult to answer your question why is it that every tech ends up being a Technical Analysis Trader.
Rather, I would like to share my experience why my trading style is more Technical Analysis than Fundamental Analysis or Sentiment Analysis.
When I began to study to trade Forex, I studied all three: Technical Analysis, Fundamental Analysis, and Sentiment Analysis.
There is no question that the Forex is a NEWS driven market so the Fundamental Analysis seems more sense to analyze the market. But I figure out that as A Day Trader, I do not have much knowledge, time, and experience to really guess the market based on my Fundamental Analysis. Only Smart Money(Big Bank, Big Company) can do it.
The Fundamental Analysis has an advantage so we can predict the trend of the market at the very beginning if you become very good at it. I do not think I can follow the market based on my FA so I became a T.A. Trader.
So therefore, I learn a basic of Fundamental Analysis (20%), a lot Technical Analysis (60%), some of Sentiment Analysis (10%) , and Professional Trader Experience (10%).
After all, I never guess the market but to follow the market based on science. And Technical Analysis Trader does it very well. Make money from the middle.
Best luck and Happy Trading @anon81929759
Hi mate
Actually… hehe
my question about why do techs become technical traders, was actually a Rhetorical question hehe.
and was supposed to be taken with a degree of humour.
but thanks for the response anyway.
if i can give you a bit of advice
Luck has nothing to do with it
secondly, thank you for wishing me good luck, i actually already trade profitably, so i’ll wish you the best.
lastly, don’t try to predict the markets, instead, Roll with the markets and understand how they move,
all this can be done mathematically if you take enough time to understand it.
be cool mate
1 Like
Trades Prepare for Every Trades: Plan the Trades and Trade the Plans
Step 1: Analyze the pairs
Identify the trend: up, down, no trend by using chart patterns, indicators, Japanese candlestick patterns, and Proven Trading System.
Step 2: Trades Setup: Stoploss, Entry, Target Price based on the analysis.
- Using previous Top, Bottom, Fibonacci Level, Pivot, Trendline for Stoploss Price, Target Price.
- Using Stop, Limit Orders and RSI Indicator of lesser Time Frame (Trade H4, use H1)for good Entry Price .
- Calculate the Trade’s Size = (equity x %risk) / (abs(entry price - stoploss price) x 10^5) (k lots)
Step 3: Money Management
-Determine the Risk for each trade:
Long Term (Daily, H4 Chart): < 2% of equity
Short Term (H1, M30 Chart): < 4% of equity
Step 4: Trade Management
-Watch the indicators, Proven Trading System if the trend follow the plan or not.
-Never move Stop-Loss if the plan is wrong, Accept Plan. The Stoploss was planning for such case.
- If the trend follow the plan: Move stoploss to break even, or Lock in profit.
Step 5: Always Have a Journal/Record for Each Trade
- Learn from the mistakes.
- Have a Journal will lead me to a Discipline Trader.
Happy Trading.
Merry Christmas and Happy New Year.
2 Likes
Long Term Plan: January 2018
- Sell USD/JPY Daily Chart
Happy Trading
Tom.
Long Term Plan: January 2018
2 GBP/AUD Daily Sell
UPDATE: 01/05/2018
ADD SIZE: SELL 0.2 @1.72289
UPDATE: 01/09/2018
Action:
-
Traders are indecision, price is traded around Fib 38.2 Level.
-
If Next Candle’s Closing Price is above MA 13, MACD is Position, I will close this trade.
UPDATE: GBP/AUD 1/10/2018
UPDATE: 01/14/2018
- FIB 50 is strong support for now.
- My strategy to let’s profit run by move stop loss to break even does not work this time but it is still a good strategy and should be use every time to maximize profit.
- I also divided my trade to 2 so that i can close one trade when there is profit.
ONE WEEK OF TRADING JOURNAL PUBLIC
It was more than one week when I decided to go to public my trading journal.
I felt that it was very difficult to keep track of the posts for one plan because of some restrictions when I write some new post to update.
I usually record the plan only by the charts and keep tracking orders by using excel.
How ever, I become more careful, work hard to analyze market and it is a good thing in Forex Market because every thing can happen!
I decide only to post the Daily Chart Analyze/Plan by Chart for now even though most of my profit is from H4, H1 Chart by using My Trading Signal. And I will try to figure out the way for smooth transfer from private journal to public journal.
In conclusion, it is more fun to go online and know that some one read my trading journal. It help me to become a discipline trader to achieve my goal.
1 Like
15-19/1/2018 Analyze/Plan:
- I will divide the trade’s size to two and use buy limit for better entry price.
UPDATE EUR/AUD DAILY: 01/17/2018
BUY : 0.02 @1.54066, 0.04 @1.53973, 0.05 @1.53904 FOR TESTING
0.1 @1.53321, 0.2 @1.53054 BY LIMIT ORDER
EUR/AUD UPDATE: 01/18/2018
- It is traded around 1.5300 price’s level.
- price is close to trendline 1.
- price is below moving average 13, 5.
- moving average is flat right now.
Conclusion:
- Buyers = Sellers.
- Price is traded in the range: 1.5400 - 1.5200 with pivot level 1.5300
- if price breaks below 1.5200, I will consider close this plan with loss.
EUR/AUD UPDATE: 01/22/2018
- I switch from Daily chart to H4 chart to trade the range.
EUR/AUD H4 UPDATE: 01/24/18
AUD/JPY DAILY UPDATE: 01/24/18
- SELL 0.05K @ 88.226 FOR TESTING THE PLAN
