Thread: My Journal Of Beginning Again.

Yes, I understand how that works also. Thanks.

Hi,

Do I know that you are left only with an account of USD 400.00 only ?

Thanks

Originally Posted by ;

Hi,

Can I know that you are left just with an account of USD 400.00 just ?

Thanks

Yes
I know that it's not enough to be able to place 40 - 50 pip stops, but what I've been doing is setting 15 - 20 pip stops and watching the price movement. Whenever the trade goes - 15 pips to profit, the stop move. Continue moving the stop to follow the profit. One thing I've learned not to do is run from the commerce when it goes leaving the halt in place rather than dropping/raising it to avoid being stopped outside.

Originally Posted by ;

Yes,
I know that it's not enough to be able to place 40 - 50 pip stops, but what I've been doing is setting 15 - 20 pip stops and watching the price movement. Whenever the trade goes - 15 pips to profit, the stop to break even move. Afterward continue moving the stop to follow along with the profit. One thing I've learned to not do is run from the trade once it goes from me, leaving the halt in place rather than dropping/raising it to prevent being stopped out.

Your primary prevent defines your risk for the trade. When and in which you move it is not a factor in the risk calculation.

Originally Posted by ;

Whew, Nader! I will need to get back to you on that one. Have you ever considered starting a business plan consulting company? I believe you'd be profitable!

Well, I am not sure if this could be a good thought or not..But who knows, maybe I will start you later on


Thank you,

Nader

Originally Posted by ;

ANSWER: My initial objective was to acquire enough profit to pay off my spouse's car, much to her surprise. But now my profit objective is to get 20 pips per trade, whatever else is a bonus.

So how many trades (On average) you make a week or a month??? If your objective is to gain 20 pips per trade, then you must have some idea regarding the frequency of the occurence of your trades. . .It will be worthless to trade should you buy 1 trade a month, taking 20 pips from it, if it happens to be a winner...

Originally Posted by ;

ANSWER: I'll keep looking back at this journal and also make sure I'm not getting off track.

You should have another copy of this Journal elsewhere besides the forum..What if the Board is to get a day or 2?? Imagine if Merlin chose to close the board forever (GOD forbids)...

Originally Posted by ;

ANSWER: USD vs EUR, JPY, CAD, GBP, and that I kinda gave up viewing the AUD.

In my opinion, this sum of pairs are too much to watch. . .Do all of them comply with your risk and egy model??? Which one of these gives you the very best results??

Originally Posted by ;

ANSWER : I like to watch support/resistance and trendline breaks.

Excuse me, however, this isn't a fantastic definition for an entry egy...two distinct traders interested in seeing support/resistance lines, nevertheless, one of these will buy support anticipating that this service will hold and price will rally, while another will will short support trusting that it will not hold and will be broken...

A fantastic definition for an entry is something like that (This is just an example):


Setup:

Condition 1: Daily price produces a new 10 day high (Or low) and remain above (Below) it to get at least 1 hour (This is a daily chart condition combined with a 1 hour chart affliction)

Example: EUR/USD 10 day range (High to Low) is 1.1800 - 1.2000
Price divides the 1.2000, makes a new 10 day high of 1.2030 and remains over the 1.2000 for 1 full hour, illness is fulfiled

Condition 2: Following illness 1 is fulfiled, the price is given yet another 1 hour, where it MUST not return to the initial 10 day high (Or low) we're measuring out of, and at the exact same time, inside this 1 hour, the price should break out the newly created top

Example: The EUR/USD preceding, remains over the 1.2000 mark for another 1 hour, and during this hour, it breaks the 1.2030 high.


Entrance: Once state 1 and two are fulfiled, our breakout entrance sign is generated and we enter the market

In our example we ought to enter long the EUR/USD anytime throughout the second hour after it breaks the 1.2030 top

Here is what I mean from the entrance egy or egy. . .This is simply to tell how you enter the market and under what conditions, not to mention that commerce direction then, stop loss point, position sizing are all different loions and ought to find a few fantastic maintenance...

Originally Posted by ;

ANSWER: Mostly trend egies, though Im not really clear on what represents a particular egy.

You ought to be clear enough, at least with yourself regarding your trading egy. . .Do you like trend trading, range bound trading or volatility trading. . ?? you handle everything else 11, this is really essential. . .Trend egies for example have possessions, they have high reward/risk ratios they have reduced percentage, they have lots of false signals, and they may produce massive drawdowns. . .Are you ready for characteristics??? If you're ready for these, then no problem for a fashion trader...

Originally Posted by ;

ANSWER: Well, at first I tried to be a short term trader, but now I believe medium to long term is going to work out better for me.

Time period is component of your trading egy, and so what I said just earlier applies here also. . .Time eyeglasses have different properties also, which means you would need one to match your conditions. . .And when you join time period with the trading methodology or egy, you're having a actual trading egy...

by way of example, you may be trend trading on the 10 minutes chart, this is completely different from trend trading on a daily chart. . .It's the Exact Same trend trading system, but the two differ greatly...

Breakdown the rest of the questions by class and continue answering them man, exactly...


Thanks,

Nader

Nader,
Thanks for all of your interest and comments. I've not posted nor traded in a few days, my job was keeping me pretty tired. So I've just been doing some studying. I will bounce back in a few days.
Mark

Originally Posted by ;

Nader,
Thank you for all of your comments and interest. I've not posted nor traded in a few days, my work was keeping me pretty tired. So I've only been doing some reading. I will bounce back in a few days.
Mark

Good luck with whatever you are being stuck with


Thank you,

Nader

Hi Nader,

Great Articles

Best regards
Alan