I am going to be posting some of my trade setups and journal here with the intention that I can be better disciplined in my trading decisions, and to give back to the trading community. I intend to be consistantly profitable with a daily minimum goal of 1% ROE (Return On Equity) Which also comes to 20% monthly. I will be posting my actual updates here on post 1... The good, the bad, and the ugly.
This is a fresh commitment to truth and accountability.
Special thanks to several people here on FF who have influenced my trading style
James16 Price Action
Jankone Rsi6 divergence
Wisdomfx Power levels
Darkstar Stop Hunting
My System and what I look for in trades.
I use 4 emas; 10,20,60,and 200. I especially pay attention to ema 60, thus the heavy red line.
I use bollinger bands, and will show examples of what I look for.
I use the usual round numbers, calculated pivots, and S/R
I trade setups from 5 minute charts to Dailys,
Countertrend;
I look for double tops/bottoms with divergence, and Stop Hunting Reversals
With Trend;
I look to jump in with trend, on pinbars bouncing off my moving averages
My Trading Rules
1. Always place Stop Loss when I enter a trade
2. If 5% loss in 1 day , then trading stops for that day.
If 10% loss in 1 week trading stops for that week.
3. If up 2% at any time during a trading day, lock in 1% and quit trading if I give back 1%
4. I'm not smarter then my rules!
5. No random stupid trades... Each setup will be justified, complete with risk exposure and profit potential
This is a fresh commitment to truth and accountability.
Special thanks to several people here on FF who have influenced my trading style
James16 Price Action
Jankone Rsi6 divergence
Wisdomfx Power levels
Darkstar Stop Hunting
My System and what I look for in trades.
I use 4 emas; 10,20,60,and 200. I especially pay attention to ema 60, thus the heavy red line.
I use bollinger bands, and will show examples of what I look for.
I use the usual round numbers, calculated pivots, and S/R
I trade setups from 5 minute charts to Dailys,
Countertrend;
I look for double tops/bottoms with divergence, and Stop Hunting Reversals
With Trend;
I look to jump in with trend, on pinbars bouncing off my moving averages
My Trading Rules
1. Always place Stop Loss when I enter a trade
2. If 5% loss in 1 day , then trading stops for that day.
If 10% loss in 1 week trading stops for that week.
3. If up 2% at any time during a trading day, lock in 1% and quit trading if I give back 1%
4. I'm not smarter then my rules!
5. No random stupid trades... Each setup will be justified, complete with risk exposure and profit potential