I have been trading demo for about a year and have began to achieve breakeven results. In order to develop my trading skills further I need a routine that will promote my development and keep me accountable which is what I am aiming for with this thread. I find that posting my trades publicly makes me a better trader since I will have to justify taking the trades. I have opened a small live account and trade explorer that will allow everyone to see my results.
My Trading System:
- Entry; Price action patterns based on Bob Volman's Books
- Exit; Volman suggests a fixed bracket 10 pip or less stop and 10 pip take profit. I am still experimenting with my stops and need to find out what works for me.
- Pairs Traded; EUR/USD, GBP/USD
- Trading hours; London Open
- Chart Timeframe; 70 Tick
- 1% Trade size
Resources:
Understanding Price Action and Forex Price Action Scalping by Bob Volman- I like the ideas presented in his setups and most of my trading will be based on his ideas. I have read both of his books multiple times and nearly every page in my books has something underlined. Both books are highly recommended FPAS is probably the one to purchase first though as it gives a system that is a little easier to implement.
Lance Beggs blog; I first heard of Lance Beggs on the Chat With Traders podcast and he was the original inspiration for this journal. He has a lot of good journalling and overall trading articles on his blog. He sells an ebook that I am interested in but have not yet bought but I hope to in the future. Lance seems to have a lot in common with Bob Volman who both trade price action on small timeframes.
Mr. Pip Ratios and Harmonics thread; Mr. Pip has shared tons of great information on this thread the main things that I got from it was the market structure, momentum and projection ideas.
BRV No-Brainer Trades Thread; a great supply and demand resource that has helped me to better understand market dynamics.
I am sure this thread will evolve as time goes on, as will my trading. I still have a lot to learn about trading and that is why I am starting this journal. Like many traders I have struggled with trading a system consistently enough to become proficient, I am hoping that posting my trades publicly will make me more accountable to my system and more consistent as a trader.