I am going to start a scalping journal today inspired by Shakesfx scalping journal which unfortunately has been highjacked by spammers, and people are starting to 'steal' his trades and post them elsewhere. It seems some people just cant appreciate what he has done for newbies like myself who are trying to work ut how to profit from forex.
Nevertheless we shall see how I get on. I shall scalp the Eur/Usd, my spread is 2 pips (Broker is IG Index, hopefully there will be no discussion on brokers, this is a trading journal!)
Same method as ShakesFx, bet 2 lots. Including the spread of 2 pips, Stop/Loss will be 15 pips (i.e. -13 from point of entry due to spread). Target Profit first lot is +10 (i.e. +12 from point of entry including spread), at which point stop loss on second lot is moved to Break/Even.
I shall be monitoring the 1 minute charts and tick charts.
Here goes Buy 1.2934
Results Update RUNNING TOTAL +678
Wed 11th Feb 1st lot: +71 2nd lot: +101 Total +172 4 hours trading 15 trades, 11 profitable, 1 Breakeven, 3 losses
Thurs 12th Feb 1st lot: +100 2nd lot: +97 Total +197 3 1/2 hours trading 23 trades, 15 profitable, 3 Breakeven, 5 losses
Fri 13th Feb 1st lot: +72 2nd lot: +79 Total +151 5 hours trading 25 trades, 14 profitable, 4 Breakeven, 7 losses
Mon 16th Feb 1st lot: +66 2nd lot: +30 Total +96 5 hours trading 14 trades, 10 profitable, 4 losses
Tues 17th Feb 1st lot: +25 2nd lot: +35 Total +60 4 hours trading 4 trades, 3 profitable, 1 losses
Wed 18th Feb 1st lot: +5 2nd lot: -3 Total +2 1 hours trading 4 trades, 2 profitable, 1 Breakeven, 1 loss
Thurs 18th and Fri 19th No trading
Mon 23rd Feb 1st lot: +30 2nd lot: +50 Total +80 1 hours trading 3 trades, 3 profitable
Nevertheless we shall see how I get on. I shall scalp the Eur/Usd, my spread is 2 pips (Broker is IG Index, hopefully there will be no discussion on brokers, this is a trading journal!)
Same method as ShakesFx, bet 2 lots. Including the spread of 2 pips, Stop/Loss will be 15 pips (i.e. -13 from point of entry due to spread). Target Profit first lot is +10 (i.e. +12 from point of entry including spread), at which point stop loss on second lot is moved to Break/Even.
I shall be monitoring the 1 minute charts and tick charts.
Here goes Buy 1.2934
Results Update RUNNING TOTAL +678
Wed 11th Feb 1st lot: +71 2nd lot: +101 Total +172 4 hours trading 15 trades, 11 profitable, 1 Breakeven, 3 losses
Thurs 12th Feb 1st lot: +100 2nd lot: +97 Total +197 3 1/2 hours trading 23 trades, 15 profitable, 3 Breakeven, 5 losses
Fri 13th Feb 1st lot: +72 2nd lot: +79 Total +151 5 hours trading 25 trades, 14 profitable, 4 Breakeven, 7 losses
Mon 16th Feb 1st lot: +66 2nd lot: +30 Total +96 5 hours trading 14 trades, 10 profitable, 4 losses
Tues 17th Feb 1st lot: +25 2nd lot: +35 Total +60 4 hours trading 4 trades, 3 profitable, 1 losses
Wed 18th Feb 1st lot: +5 2nd lot: -3 Total +2 1 hours trading 4 trades, 2 profitable, 1 Breakeven, 1 loss
Thurs 18th and Fri 19th No trading
Mon 23rd Feb 1st lot: +30 2nd lot: +50 Total +80 1 hours trading 3 trades, 3 profitable