Hello everyone, I've been reading this forum for months now and believe it is time to create a topic to post my trades to see if I'm seeing what I should be seeing.
Little bit about me - just graduated university with a finance degree and struggling to figure out what I want to do with my life. In the mean time, I would love to learn to trade as I absolutely love trading, one of my huge passions although I have very little experience.
I have been reading these forums for a few months now. I've read through the NLA thread on baby pips (as much as I could get through with the archived chache version). I also read through the NLA thread here on Kreslik. I am now currently making my way through the 'lukx zline trading log + cfabian p.35 + adaseb p.48' thread.
I dream of one day trading for a living as I absolutely love watching the markets and could do it for many hours a day.
Currently trading with a demo account on Oanda. I realize that ECN brokers are probably the way to go, but having difficulty finding one that I can use as I am living in Ontario, Canada. I see that a lot of people on this forum recommend MB trading but I don't think I can make an account there as a Canadian resident
I'd like to give a big thanks to TRO, MightyOne, Dragon33, and to Es/pip (as well as many others) for posting and helping on this forum.
Please let me know if this is the wrong forum and I will post somewhere else.
My Trading Venture
Moderator: moderators
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
So far I've learned the following:
Wicks in the direction of Loss
Body in the direction of profit
Higher timeframe rules the other timeframes
Mightyzone is 50% of a momo candle (a candle which is double the previous candle)
Zeroline is a 'line in the sand' where people have held profit
Watch to see whether candles are closing above/below previous highs/lows as this will give you a general direction of trend?
Wicks in the direction of Loss
Body in the direction of profit
Higher timeframe rules the other timeframes
Mightyzone is 50% of a momo candle (a candle which is double the previous candle)
Zeroline is a 'line in the sand' where people have held profit
Watch to see whether candles are closing above/below previous highs/lows as this will give you a general direction of trend?
Trade on the daily. I split my entry into three - two marked with check marks and the other is still open as you can see. The two exits are marked with a 'x's
The reason for the exits was because of a zeroline on the daily which you can't see on my chart. I set a take profit because I couldn't be at the screen all day.
Let me know what you guys think.
One of the other problems which I can't seem to figure out is my trade sizes.
I'm hoping to risk 2% per trade. I have a demo account with $10,000 which means a risk of $200 per trade over 20 pip stop loss is 10 lots? I'm definitely screwing this up because whenever I attempt to place a order like this my account rejects it saying insufficient funds.
- Captain Pugwash
- rank: 500+ posts
- Posts: 529
- Joined: Wed Sep 14, 2011 7:59 am
- Reputation: 166
- Location: Insanitary Industries
- Gender:
This is a really nice lot size Calculator - nice and straight forward to use
"MOJO 1)Self-confidence, Self-assuredness. As in basis for belief in ones self in a situation. Esp/In context of contest or display of skill such as going into battle. 2)Ability to bounce back from a debilitating trauma and negative attitude YEH BABY
Captain Pugwash wrote:This is a really nice lot size Calculator - nice and straight forward to use
Thats great, thank you very much.
I really just had to go over leverage, account size and lot size more which I did and now have a better understanding
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.