Im going to keep this as my trade journal. Im new to this so I don’t have trades to share. Just learning over the last 2 weeks. But I am using a demo account with 10K. From this 10K i am only going to use 1K as this will be my investment amount. Over the course of time I will be trying different strategies to see what works for me.
at the moment i am deciding on what type of trader i am, long term, swing, short term, or scalper. Im thinking more on short term or scalper.
My short term trades I will look at the 4 hour chart to gauge the overall market and the hourly chart to place my entries
My scalper trades i will look at the 1 hour chart to gauge the over all market and the 15 min chart to place entries.
Wish me luck so, cos I will start placing trades this week
I have decided to trade the bounce on EUR/AUD. Euro is at a 1 year low after a a sharp drop on Friday, although there was a steady decline. I have decided to enter this order to buy at 1.386 and to take profit at 100 pips, matching up with the first fib line and I have set my stop 30 pips away, I may stop out of this earlier
GBS/USD 1.6205 1.62177 12.7 Long
Euro/GBP 0.79979 0.79879 10 Short
Euro/NOK 8.15688 8.15147 54.1 Short
Euro/GBP 0.80281 0.80231 5 Short
GBP/Euro 1.2454 1.24633 9.3 long
Euro/GBP 0.80175 0.80154 2.1 short
GBP/Euro 1.24755 1.24725 -3 long
