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  1. #1
    Well so many of you who have posted transaction journals have prompted me to do exactly the same.

    I have spent the last 2 months finalizing my trading/business program. This egy has been for a year and a half in development. The journal's purpose will be for accountability in my part. And constructive criticism from other people.

    Finally I want to trade whole time. By the end of July 2010, I want to be able to make a decision on when I could visit full time.

    My current Job is trimming houses. So at times I'm restricted for the quantity of trading time I will get in. I also have employees so this adds some of its own dynamics.

    At this time I trade the eurusd. So as time advances I will get into more detail on matters.

    April 20, 2011

    It's been over a year since I began this diary. Now as I read back through this I am seeing how this has come to be a listing of a traders travel through the mine fields of the Forex market. It's intriguing to observe the way my trading style has shifted as I become seasoned with the idiosyncrasies of the market.

    I am not a complete time trader however, but I am watching it on the horizon. I am getting very settled in on what works for me and what does not. I know my trading program will always be evolving and advancing. At the moment there's a lot of it in my mind mainly because I just don't know how to write it all down.

    There are a lot of excellent traders who have helped me with this trek. Each one giving me a piece of the map that has been required. I don't know if there's ever any one individual that can completely answer all of the questions that come up in a traders life. I have had maybe hundreds. So I would buy you a drink or lunch or something, that can be hopeless, but rather I'd say thank you. Hopefully I have helped people on their trip to Forex fortunes too.

    So trade safe all and if you start to read this from front to rear enjoy the travel, I have.

    November 13, 2011

    I have been browsing through this thread a Little. It's fascinating how my trading has changed. There are fewer indiors and I am not concerned about each pip of movement any longer. Now it's all zones of imbalance that are exploited. As a matter of fact as of this date most of the positions are initiated when I am not home. Pending orders are the order of business as of late.

    To reiterate this thread has been a listed travel in the Forex Market.

  2. #2
    In the journal I will be using 2 trading egies. One is execued from a 5 min chart and intended for short term holding times.

    The other when from 15m or even 1H chart using fibonacci for entries. For a term that is longer grip.

    Normally I won't enter two trades with the identical currency pair in the same time, unless you is compensated for

    Attached is an example.

    This one is a double best example I will be searching for. There are 8 distinct fibo patterns I will be watching for. I will be posting them because they develope showing my entries, exits, stops, etc..

  3. #3
    Saw a thing which somebody posted on another thread which stirred my brain cells to think about the same stuff now.

    I dare say, many traders, particularly new to the scene, cannot deal with a 50% win loss ratio emotionally. Especially is there's a number of direct losses. Yet this is exactly what a trader needs to learn the maximum. I don't think you can learn it by a ribbon.

    Reading an wonderful book right now.

    She make a contrast between Chess and Poker.

    You'll be able to instruct a newb for 5 minutes how to play Poker and they can beat a professional Poker player for your first couple of hands, simply by the luck of the draw.
    You cannot instruct a newb how to play Chess for 5 minutes and have them beat a Grand Master. The Grand Master will ALWAYS win. Life and trading is much more like Poker. Yet so many traders think trading is like Chess.

    This has been an interesting book to experience. I'm sure others will find it interesting also.

    I understand one trader who is winning percentage is around 40%. How would like to shed 6 straight before winning 4. This traders target is a minimal 4R. Plogically we are beat if we focus on the losers rather than on the procedure. One simple thing which may help some. If you're following your trading plan all transactions which come up a reduction are Failed trades. Not losers.

    Life and trading is like Poker. As the song goes. . .You gotta understand when to hold'um and know when to fold'um. Know when to walk away and know when to run.

  4. #4
    Quote Originally Posted by ;
    Good fortune.
    Thank you. I have read 100's of the posts. I am looking ahead to what you will be able to give to my understanding of the Fx.

  5. #5
    Here is a good example of the 5min set up I will be using. This is a trade back in early December. I haven't done any trading for the last month. Awaiting Monday maybe start getting some post vaion setups.

    As you can see in the chart. I'll be using trendlines and pivots as tools to confirm an entrance place on the chart.

    ps. Doing posting while taking a break work to start closing out the year.

  6. #6
    Incidentally I will start posting my trading rules here in just a bit.

  7. #7
    Best of luck to you . I'm also hoping to have the ability to exchange full time by July. Race you there

  8. #8
    Quote Originally Posted by ;
    Best of luck to you . I am also hoping to be able to exchange whole time by July. Race there
    it is a deal.

    ps. Been seeing your trade journal too. You're one of these that got me to thinking about doing this.

  9. #9

  10. #10

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