My first trading journal ..

[BMW1983]

1. Why would you like to be a trader ?

To make money from home, whether that be Australia or the Philippines.

2. Which are your top 10 trading rules ?

1. To always follow my trading plans, ALWAYS
2. Risk 2% of my account balance per trade, no more - no less.
3. Only place the trade if the risk-reward ratio is at least 2-1 - or even better 3/1 in my favour.
4. Don't allow my emotions influence my thinking.
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3. Which are your trading goals and why ?

To make around $250 dollars on average per week.

4. What kind of trader are you ? (position-, swing-, intraday-trader, etc.)

I would say swing/day trader who trades on the reversals.

5. Which currency pairs do you want to trade ?

EUR/USD
USD/JPY
GBP/USD
USD/CHF

6. Which timeframes will you use ?

5 minute and 15 minute charts.

5 minute charts for entries
15 minute charts for finding general support/resistence and trend behaviours

7. How do you prepare before each trading session (pre-session routine) ?

8. How do you finish each trading session (post-session routine)?

9. Which are your risk- and money-management strategies ?

Risk 2% of my account balance per trade, no more - no less.
Only place the trade if the risk-reward ratio is 3-1 in my favour.

10. Which are your actual trading-strategies: Chart-setups, entries, exits

ENTRIES

2 x top's, head and shoulders, triangles, flags, pennants, channels/wedges etc etc....

They must contain 4 bars, the last 20 minutes of price action.

Volume is 2 x to 3 x higher than usual.

If going long a bullish candle set up is present, if going short a bearish candle set up is present.

RE-ENTRIES

EXITS

Automatically.

1. Stop loss was hit ***
2. Take profit was hit

Manually.

1. If on the 5 minute chart, the price drops below the 20 period moving average
2. If you see a bearish/bullish candle formation forming, a trend reversal for example

*** adjust stop loss to break even, once profit has been reached and price has continued to build in your direction