I am starting this journal to help me document a new system I am still tweaking. So, I ask that nobody trade these as signals. This experiment may be a magnificent disaster.
Trades will be on a 10k mini IBFX demo account.
I am trading these on my live account simultaneously, but at a reduced risk until proven profitable.
Edit:
I was originally going to have 2 types of trades journaled here, but decided on doing just one type. The trades I will be making are price action type trades, but I haven't ironed out the exact entry an exit procedures, so this is a work in progress
Some trades may be open for days and there will be some averaging, especially if they start tanking. I will bail out on a trade at a loss when my system tells me, but usually its for a nominal loss.
Floating drawdowns can get pretty high, especially on gbp/jpy trades, but the averaging helps mitigate that.
I will try to update this first post with a weekly statement to help keep me honest. My goal is to try this out for a few weeks until I am comfortable enough to fully transition it to my real account.
Feb 29th update:
Account Balance: $21,642, up 116% in 17 trading days.
Total Gross Pips: +4012
Trades will be on a 10k mini IBFX demo account.
I am trading these on my live account simultaneously, but at a reduced risk until proven profitable.
Edit:
I was originally going to have 2 types of trades journaled here, but decided on doing just one type. The trades I will be making are price action type trades, but I haven't ironed out the exact entry an exit procedures, so this is a work in progress
Some trades may be open for days and there will be some averaging, especially if they start tanking. I will bail out on a trade at a loss when my system tells me, but usually its for a nominal loss.
Floating drawdowns can get pretty high, especially on gbp/jpy trades, but the averaging helps mitigate that.
I will try to update this first post with a weekly statement to help keep me honest. My goal is to try this out for a few weeks until I am comfortable enough to fully transition it to my real account.
Feb 29th update:
Account Balance: $21,642, up 116% in 17 trading days.
Total Gross Pips: +4012