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  • Trading Journey

    .........................
    Last edited by topnotch; 03-14-2017, 03:41 PM.

  • #2
    Welcome to the site topnotch!

    Great to see you willing to take advice, you'll probably get plenty of it!

    By the looks of it you don't really have a plan in place other than how much you hope to make each day. Can you please help us understand more about your strategy by answering these questions:

    1. Why do you enter trades? What conditions need to be met for you to enter the market?
    2. How much are you willing to risk on each trade? Both pips and account equity.
    3. Do you use fixed stops and take profit levels? Will you ever move them? If so, when and why?
    3. What's your daily/weekly cutoff? You'll have a bad run at some point, when that happens you need to have the maturity to stop trading temporarily and take stock. At what level of loss would you do this?

    It's great to see that you've been the recipient of beginners luck and that you're smart enough to know that this is only temporary unless you put measures in place to prevent giving it all back.

    I look forward to seeing how you go over the coming months (and hopefully years!)
    Intensive one-on-one trading mentorships with
    Andrew Lockwood, Mark Bennell or Joel Kruger available now.


    Click here to learn more

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    • #3
      Thanks for the info.

      Sounds like you're half way there.

      A couple of comments:

      - You trade on news events. Why? I'm assuming it's because you like the quick movements and instant gratification of quick winners. News trading is the hardest time to enter the market because technicals go out the window.
      - If you risk more than 5% of your account on a single trade you're basically gambling in my opinion. 1-2% is more realistic.
      - Forget about RSI bullshit, hang out in the trading room and discuss your ideas with the room to get feedback. There are some very talented guys in there.

      Also make sure you watch TradeAlerter's daily video to see where the high probability trades are https://www.forexsignals.com/live-fo...et-update.html

      Good luck!
      Intensive one-on-one trading mentorships with
      Andrew Lockwood, Mark Bennell or Joel Kruger available now.


      Click here to learn more

      Comment


      • #4
        Nice job Topnotch, however it looks like you're still not trading with a stop loss?
        Intensive one-on-one trading mentorships with
        Andrew Lockwood, Mark Bennell or Joel Kruger available now.


        Click here to learn more

        Comment


        • #5
          Originally posted by topnotch
          Reached a new high. Did not make it easy for myself. Roller coaster day for me yesterday. Was shorting euro during rallies, but it kept going higher. My account went from 120% gain to 28% and now to 132% all within less than 8 hours.

          Almost ended my journey. It was bound to happen with the lots I was using.
          Topnotch!

          What are you doing!

          Have you learned your lesson?
          Intensive one-on-one trading mentorships with
          Andrew Lockwood, Mark Bennell or Joel Kruger available now.


          Click here to learn more

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