The Phoenix Journal

This is a discussion on The Phoenix Journal within the Trading Journals forums, part of the Reception category; I welcome everyone to follow my journal. The aim is to gain new perspectives, advice and to use this forum ...

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Old Jun 17, 2013, 4:06pm   #1
 
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Joined Feb 2010
The Phoenix Journal

I welcome everyone to follow my journal.

The aim is to gain new perspectives, advice and to use this forum as a trading log in order to improve my entries and strategies.

My style is daily chart view ( 6month/ 1 year scope) momentum trading at highs & lows with a balance of techincals and averages with some fundamental views which hopefully work in harmony. Typically hold trades for 2-4 days. Risk per trade £150 (3%) , total account value £5000, target profit per month £250 . Currently account value after 2 months (£-341) ... some lessons learnt here!

I tend to have 'Forex Pair girlfriends' which I trade frequently with tight margins and low spreads, no more USDZAR ever ever again, slut.

I will provide charts for each trade and an analysis which I others can hopefully improve and share some knowledge.

Enjoy and thanks for the views, opinions apprieciated.
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Old Jun 18, 2013, 12:33am   #2
Joined Mar 2009
Re: The Phoenix Journal

Quote:
Originally Posted by phoenix25140 View Post
I welcome everyone to follow my journal.

The aim is to gain new perspectives, advice and to use this forum as a trading log in order to improve my entries and strategies.

My style is daily chart view ( 6month/ 1 year scope) momentum trading at highs & lows with a balance of techincals and averages with some fundamental views which hopefully work in harmony. Typically hold trades for 2-4 days. Risk per trade £150 (3%) , total account value £5000, target profit per month £250 . Currently account value after 2 months (£-341) ... some lessons learnt here!

I tend to have 'Forex Pair girlfriends' which I trade frequently with tight margins and low spreads, no more USDZAR ever ever again, slut.

I will provide charts for each trade and an analysis which I others can hopefully improve and share some knowledge.

Enjoy and thanks for the views, opinions apprieciated.
I'm going to start trading again soon with a similar sized account - I've found a job I enjoy where I can work Sat/Sun and trade during the week - the job covers my living costs which reduces trading stress to almost nil. Your stops are quite tight so I hope you've mastered your system - those entries don't crop up every day - but they do come along, usually at some dem'd inconvenient hour. Also - the one don't I'll add is: don't set profit targets - the market will give what there is to offer and the market offers nothing, you take it; we have to cater for dry periods. You need to build your account to at least 100K before it's safe to consider living off trading.

Last edited by gooders72; Jun 18, 2013 at 9:49am.
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