I want to create this journal for my own record. Any suggestions by fellow traders are welcome.
I have traded spot forex and currency futures for the last 4 years.
I don't want to talk about any specific % or $ figures, let's just say I did well. I was subscribed to several paid signals services and frankly I did better on my own. I use very conservative money management technique very well known in the trading world and no need to elaborate on it.
I have two spot forex accounts, one for daytrading(not sure if I could call it scalping) and one for position trading. I trade several pairs. My posts will clearly indicate "Daytrading Account" or "Position trading account". I use currency futures account rarely and only for position trading, those trades will be clearly distinguished when posted.
I use "two step entry" for all my spot forex trades.
For example, if euro trades at 1.2700 and I want to go long, I would divide my entry into two lots, first long at 1.2700 second entry 20 pips lower (1.2680) for an average 1.2690. Stop loss is always given at the time the trade is entered. TP is flexible.
For my position trades sometimes I don't use a stop loss.
I have traded spot forex and currency futures for the last 4 years.
I don't want to talk about any specific % or $ figures, let's just say I did well. I was subscribed to several paid signals services and frankly I did better on my own. I use very conservative money management technique very well known in the trading world and no need to elaborate on it.
I have two spot forex accounts, one for daytrading(not sure if I could call it scalping) and one for position trading. I trade several pairs. My posts will clearly indicate "Daytrading Account" or "Position trading account". I use currency futures account rarely and only for position trading, those trades will be clearly distinguished when posted.
I use "two step entry" for all my spot forex trades.
For example, if euro trades at 1.2700 and I want to go long, I would divide my entry into two lots, first long at 1.2700 second entry 20 pips lower (1.2680) for an average 1.2690. Stop loss is always given at the time the trade is entered. TP is flexible.
For my position trades sometimes I don't use a stop loss.