Hello everyone and welcome...
This will be my new trading journal, hopefully it will help me get more disipline and better understanding of myself. I will try posting my trades live, with short explanation, as a note to myself, on why i'm opening a position.
I've been trading for about 3 month, news trading mostly and quite a lot has happened since i've started. I've made thousands of dollars, and lost just as much. However, i'm glad to be positive overall and i believe that the experience of going from complete utopia to total dismay was quite good afterall.
Let me explain to you how i'm aiming to trade.
I will be using NO indicators to base my decisions on. Just price action. I hope i can get up around 7:30 am (GTM) and trade until i feel like i still can. I will be looking for big moves, on majors, focusing on GBP/USD.
The secret of forex i truely believe is very simple. Use your brain, and control your emotions. The market will give you signs of where it is likely to go, but it's up to you, and only you to see them. The basic rule: keep you losses small, and let the profits run is perhaps the best advice i can repeat. However, most will probalbly want some hard numbers, the truth is, there are none. It's up to the trader to make a decision, and hence, accept the responsibility for it. The vast majority will keep loosing and blaming their system, changing it, loosing again and so on. A few that stick to one methology, develop the sense of what's going on, and ultimately add more and more personal imput and only then become profitable.
Forex is a little different every day, no indicator or system can incorporate all of the information. Humans, on the other hand, are much more receptive/flexible.
Anyway, i hope this goes well, and good luck to everyone.
Best regards,
Vlad
This will be my new trading journal, hopefully it will help me get more disipline and better understanding of myself. I will try posting my trades live, with short explanation, as a note to myself, on why i'm opening a position.
I've been trading for about 3 month, news trading mostly and quite a lot has happened since i've started. I've made thousands of dollars, and lost just as much. However, i'm glad to be positive overall and i believe that the experience of going from complete utopia to total dismay was quite good afterall.
Let me explain to you how i'm aiming to trade.
I will be using NO indicators to base my decisions on. Just price action. I hope i can get up around 7:30 am (GTM) and trade until i feel like i still can. I will be looking for big moves, on majors, focusing on GBP/USD.
The secret of forex i truely believe is very simple. Use your brain, and control your emotions. The market will give you signs of where it is likely to go, but it's up to you, and only you to see them. The basic rule: keep you losses small, and let the profits run is perhaps the best advice i can repeat. However, most will probalbly want some hard numbers, the truth is, there are none. It's up to the trader to make a decision, and hence, accept the responsibility for it. The vast majority will keep loosing and blaming their system, changing it, loosing again and so on. A few that stick to one methology, develop the sense of what's going on, and ultimately add more and more personal imput and only then become profitable.
Forex is a little different every day, no indicator or system can incorporate all of the information. Humans, on the other hand, are much more receptive/flexible.
Anyway, i hope this goes well, and good luck to everyone.
Best regards,
Vlad