I traded very little in the forex market last year, due to large (and exhausting) expansion in my other business I had little time or interest in trading (although I did continue to invest in the stock market). I have now built up the necessary support giving me back a little more time to return to forex trading!
I continue to trade a very simple trend based system... support and resistance, trend lines and gauging price action/reaction at areas of interest. I trade 2% risk per trade and aim for a minimum 1:1 risk to reward ratio (higher if I feel a particular trend or setup is strong enough to allow it).
This won't be a particularly busy journal as I only trade a few times a month (mostly from daily and sometimes weekly charts) but I like to keep a record of what I am doing... hence this journal!
I will start with my first trades of the year in my next post.
I continue to trade a very simple trend based system... support and resistance, trend lines and gauging price action/reaction at areas of interest. I trade 2% risk per trade and aim for a minimum 1:1 risk to reward ratio (higher if I feel a particular trend or setup is strong enough to allow it).
This won't be a particularly busy journal as I only trade a few times a month (mostly from daily and sometimes weekly charts) but I like to keep a record of what I am doing... hence this journal!
I will start with my first trades of the year in my next post.