Cwn6161's Trading Log
Posted: Tue Aug 17, 2010 1:04 pm
Since I need a place to put down my thoughts (and have them critiqued) I thought I would make a trading log. I hope to write more about why I chose each trade, in hopes I can learn from the mistakes.
Trading method - In the most basic form, I'll be making a line, and trading off of how the price reacts to the line.
Trading capital - $500, demo account.
Currencies to follow - For now, just EU.
Trading risk - 4% per trade, until I reach $5000.
Trading timeframe - I use CC, and my HTF will be the daily (D3) candles. I'll use H4 (H12) to try and pinpoint entries.
Onto the trades...
I'm currently watching EU for a pullback around the 1.29 area. On the daily chart there was some serious downward momo, and now there is a large "gap" where people are holding profit. I think some of those people will be zlined.
Struggles - Both the daily and H4 show some support around 1.275. Part of me wonders if this big drop is just the retracement for a larger move upward.
I'll add charts when I have the chance.
Trading method - In the most basic form, I'll be making a line, and trading off of how the price reacts to the line.
Trading capital - $500, demo account.
Currencies to follow - For now, just EU.
Trading risk - 4% per trade, until I reach $5000.
Trading timeframe - I use CC, and my HTF will be the daily (D3) candles. I'll use H4 (H12) to try and pinpoint entries.
Onto the trades...
I'm currently watching EU for a pullback around the 1.29 area. On the daily chart there was some serious downward momo, and now there is a large "gap" where people are holding profit. I think some of those people will be zlined.
Struggles - Both the daily and H4 show some support around 1.275. Part of me wonders if this big drop is just the retracement for a larger move upward.
I'll add charts when I have the chance.