Trading to Success - 1 System, 1 Timeframe, 1 Pair
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Thread: Trading to Success - 1 System, 1 Timeframe, 1 Pair

  1. #1
    OK I have been posting in forexintuitive for some time now... I have been submitting my results in different threads and now I think now is the time to do it properly... Keep a suitable Journal. In this thread I will be incorporating my daily debriefs i.e.. What trades I took, why and what the emotions were that I felt during the trades. My objective is to demone that with a strict set of rules which are followed to the letter that you could be successful in this particular Arena. Despite the emotions you are feeling during a trade if you have planned properly and have sufficient confidence in the setup then you will eventually overcome all challenges and make the transistion to professional trader.

    Now to a rough guidelines regarding what I will do:

    Session
    London 6am - 3pm

    Pair
    GBP/USD

    Method
    Basic Breakouts

    Lots
    2 Lots

    Timeframe
    15 Minute Chart

    Total Summary

    I started keeping a written diary back towards the center of October and I have discovered that this has really helped my trading. So I thought that it was only right that I bring you guys current on where I am because I started to keep a journal.

    In October I had 13 trades, 11 winners and 2 losses. In total I made 155 pips in my first lots and 321 pips in my next lots coming into a total of 476 pips for the month of October.

    In November I have had two trades and two winners. My first lots total is 40 pips and my next lots total is 0.

    Since beginning a diary I have had 15 trades, 13 winners and two losers. I have accumalated a entire pip count of 516 pips profit....

    Men please feel free to add your ideas, ask questions or just follow my progress...

  2. #2
    Hello,

    because I exchange the same pair in the same time frame ( and 4H too ), I am looking forward to see about your experience...

    Good luck...

  3. #3
    Today was a good day... It wasn't straightforward but I made my own 20 pips profit for the day.

    I woke up this morning with a massive dilemna. The GBP/USD had transferred during the Asian session and I normally hate to see that, I like to see a wonderful consolidation interval plus some authoritative amounts to trade from.

    How I decided to depart the morning alone and come back at around lunch time... Much to my pleasure I came back and saw a pleasant 2 point resistance line which if you'd back far enough can see that it had been both service and resistance in the past. I also saw a miniature double bottom... That was good enough for me to have confidence in a break.

    At 2pm we got a confirmed break and the next candle gave me my entry sign. I had been in for 30 mins and my first profit target had been hit, so I took you lot off the desk and the proceeded the next lots stop to break even.

    Regrettably that got stopped out at break but I got my 20 pips in the tote:--RRB-.

  4. #4
    Micardo,
    Is there a detailed explanation of your breakout egy on this website (i.e., indiors, S/L, etc.)? I reviewed your commerce breakouts like a pro thread, but did not observe a detailed explanation. Would you be kind enough to draft one? Thanks.

  5. #5
    Hi Micardo,

    that I would also appreciate if you can post additional information regarding your indiors. Your MA's are they easy or exponential? I see in the chart thatyou have three, the number of spans does every one covers? How are you determining your initial stop losses?

    Due

  6. #6
    Micardo:

    Seems like you're EST USA, is this correct???

  7. #7
    LOL.... Yes good guess.

    I will post indiors and everything else that goes with a little later.... At work at the moment so no moment:--RRB-

    But now wasn't such a good day, I'll explain all later tonight...

  8. #8
    Well well well.... Today I should of only sat out of the market.... I new the Mid-Term Elections were finishing, to be honest I was not sure what any of the outcomes would of meant fundamentally but that I knew the markets possess the capability to act badly.

    So what happened now... Well I got a great early setup with a few nice lines in place, one was long duration and that I had been pretty happy with the setup. Early this morning in around London Open the market started to move which we anticipate... in fact we really like an early move.

    I got a break of my resistance line and then a transfer beyond signaling the lengthy haul. The market quickly retraced on me but that I remained in as my principles clearly say that I remain in the trade either before my profit target is hit or I am stopped out. (I find this takes all of the decision making away from me... I make the preparations for entrance and execute then it is down to the market. This way all I have to concentrate on is finding the ideal levels).

    Anyway my trade then got stopped out in 30 pips on two lots which is a total of 60 pips loss for the day.

    Afterwards on presented a wonderful chance for the re-entry but my rules only allow for one transaction a day. The reason that is in place would be to stop me overtrading... whilst in front of the screen I will find a bit trigger happy, so by restricting myself to one transaction a day I'm sure that I choose only the best setup available....

    Okay so today was not so great but lets hope tomorrow selects up...

  9. #9
    Thats quite interesting.... Manul I will sound stupid here but is there a way to see the quantity? Such as an indior or something.... This might just keep me from those transactions...

  10. #10
    LOL.... Just so many conflicting ideas....

    Seriously though You trade breakouts too?

    Just how long are you doing so for? How can it work for you?

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