This is going to be my self-evaluation thread. I will be posting charts and all analysis for taking the trades. After a lot of thinking, I have come to a conclusion that a journal is necessary to progress in the long run. I thought I would maintain it in a notebook, but the charts would be missing. So, online journal is easier to maintain.
My Entry Method:
Mostly derived from James16 method, Jankone 5minute method (but in higher timeframe) and Clockwork's Silent Service method. Always enter after break of a pinbar, bullish/bearish bars, etc. at least by 5 to 10 pips depending upon volatility of the pair. And mostly trading in more than 4-h timeframe (though sometimes in M30 as well).
Exit Method:
Always (Mostly) take profit in the first trouble area (FTA).
Stops
Stop is generally between 30 to 50 pips (never more than 50 even if the bar deserves). And the stop is trailing (TSL). Stop is trailed only upto the point where I am up by 25 to 30 pips. Then I quickly move my stop to breakeven (now its not trailing) and wait for the FTA to be hit. This makes my loss very small and my R:R is thus improved!
My Entry Method:
Mostly derived from James16 method, Jankone 5minute method (but in higher timeframe) and Clockwork's Silent Service method. Always enter after break of a pinbar, bullish/bearish bars, etc. at least by 5 to 10 pips depending upon volatility of the pair. And mostly trading in more than 4-h timeframe (though sometimes in M30 as well).
Exit Method:
Always (Mostly) take profit in the first trouble area (FTA).
Stops
Stop is generally between 30 to 50 pips (never more than 50 even if the bar deserves). And the stop is trailing (TSL). Stop is trailed only upto the point where I am up by 25 to 30 pips. Then I quickly move my stop to breakeven (now its not trailing) and wait for the FTA to be hit. This makes my loss very small and my R:R is thus improved!