Hey everyone,
After almost 2 years of studying forex, and practing with personal funds and also friends and family funds, My business is finally going to become incorporated this year (at least that is my goal). To avoid confusion I am not going to say much about it so people wont think I am advertising.
The Reason I am incorporating is actually several things. But the main ones are:
1. I am up to almost 15 accounts that I am managing, all with very satisfied clients (even though they are just family and friends) and in the event of any bad things, I would like to protect my personal assets etc.
2. Last year, I netted about 727%. That is a conservative number, it is not including expenses that I had to take out for computers, to live, etc etc etc.
3. I want to have "Inc." by the business name I dreamed about for several years, and to see it actually come to pass will give me a great great sense of accomplishment.
4. One day I do want to trade for strangers...
The list can go on and on.
But anywho, I am using this year to develop some more track record, work out kinks, gain more experience etc etc.
And for those that are wondering, I am not starting a Hedge fund, I am simply managing people accounts in different risk factors (which will be my products) and offering other manage account services that my qualifications will allow. As I get more qualifications my services will expand.
And the purpose of this journal is to simply post trades I take and the progress of the development of my corporation. I am not sure if it is allowed, but maybe details about it in the future as things finally get organized.
I am accepting of all advice, support, nay sayers anything. All input will help me, it will allow me to look at things that I might of missed.
If you have any expierence in what I am doing, your advice is invaluable to me...I would greatly appreciate it.
So please post all questions comments or anything here. I would really like that.
The way that the main posts are going to be organized is similar to another journal I saw earlier:
1. trade #
2. pair
3. short/long
4. Entry price
5. s/l
6. original take profit
If I modify the stop or anything about the trade
1. trade #
2. pair
3. MODIFIED s/l
4. MODIFED t/p
After the trade closes
1. trade #
2. pair
3. short/long
4. net pips after closing
5. R (net pips/original pips risked or 6/5)
6. number of winning/losing trades
And then under some post I will post updates on the development of my corporation.
The system I use is mostly all technical. It focuses on support resistance, change of trend, and some strength analysis. My system even though can be mechanical, works better with descrition. The reason I am not posting it, is because I feel most of my trades are succesful because i believe i am developing that feel for the ART of trading.
But, if it is requested in the future, I will be glad to post some details. But know, 2 people can trade the same system, and have totally different results
The pairs that I focus on is GBP/USD, and EUR/USD..they are the only 2 i need. When I expierment with other styles of trading I might add pairs.
Thanks for reading that long post lol. And I hope you enjoy my journal
Nip
After almost 2 years of studying forex, and practing with personal funds and also friends and family funds, My business is finally going to become incorporated this year (at least that is my goal). To avoid confusion I am not going to say much about it so people wont think I am advertising.
The Reason I am incorporating is actually several things. But the main ones are:
1. I am up to almost 15 accounts that I am managing, all with very satisfied clients (even though they are just family and friends) and in the event of any bad things, I would like to protect my personal assets etc.
2. Last year, I netted about 727%. That is a conservative number, it is not including expenses that I had to take out for computers, to live, etc etc etc.
3. I want to have "Inc." by the business name I dreamed about for several years, and to see it actually come to pass will give me a great great sense of accomplishment.
4. One day I do want to trade for strangers...
The list can go on and on.
But anywho, I am using this year to develop some more track record, work out kinks, gain more experience etc etc.
And for those that are wondering, I am not starting a Hedge fund, I am simply managing people accounts in different risk factors (which will be my products) and offering other manage account services that my qualifications will allow. As I get more qualifications my services will expand.
And the purpose of this journal is to simply post trades I take and the progress of the development of my corporation. I am not sure if it is allowed, but maybe details about it in the future as things finally get organized.
I am accepting of all advice, support, nay sayers anything. All input will help me, it will allow me to look at things that I might of missed.
If you have any expierence in what I am doing, your advice is invaluable to me...I would greatly appreciate it.
So please post all questions comments or anything here. I would really like that.
The way that the main posts are going to be organized is similar to another journal I saw earlier:
1. trade #
2. pair
3. short/long
4. Entry price
5. s/l
6. original take profit
If I modify the stop or anything about the trade
1. trade #
2. pair
3. MODIFIED s/l
4. MODIFED t/p
After the trade closes
1. trade #
2. pair
3. short/long
4. net pips after closing
5. R (net pips/original pips risked or 6/5)
6. number of winning/losing trades
And then under some post I will post updates on the development of my corporation.
The system I use is mostly all technical. It focuses on support resistance, change of trend, and some strength analysis. My system even though can be mechanical, works better with descrition. The reason I am not posting it, is because I feel most of my trades are succesful because i believe i am developing that feel for the ART of trading.
But, if it is requested in the future, I will be glad to post some details. But know, 2 people can trade the same system, and have totally different results
The pairs that I focus on is GBP/USD, and EUR/USD..they are the only 2 i need. When I expierment with other styles of trading I might add pairs.
Thanks for reading that long post lol. And I hope you enjoy my journal
Nip
Nothing is hard, some things just take more time and discipline.