Hi,
First let me make sure everybody understands:
1) I am a newbie, been trading only about a year
2) I've blown a number of account
3) I have no clue what I am doing
4) I alter trading methods on a daily system
5) I am searching for my holy grail
6) I only prefer to trade on a daily basis, scalping drives me crazy
7) My middle name is impatient greedy bastard
So why am I doing this? As I pretend to develop a technique which will allow me to trade whole 21, I wish to record my trades. I am not quite sure I have anything that could be interesting to anybody, or is anywhere close to a trading procedure. All I know is when I examine it, on any pair, I determine to trade, when I should put in and when I should escape. Am I successful 100%, certainly not!!!! But I can tell you I am kept out of more bad trades, then great ones (does this make sense).
My first goal of this thread would be to trade only a couple of pairs to the month of December (in demo mode), documenting my moves, testing out different MM. Since I am trading off of the Day charts I do not expect to possess but only a couple of transactions although I'll be in trades for 7-15 days at one time.
This is a really basic method which uses one particular indior (HMA Modified) to demone trend management, and two additional (Goldminer2 RSI Custom) to demone entry and exit points. The reality is one indior (HMA Modified) could be used to take trades, I just still can't believe that and want other indiors to make me feel great about my trade decisions. What I believe I discovered is the two other indior assist me get in at a better position to survive margin draw-down that comes with daily progr. I guess if this is actually correct, we all will see.
Now, as much as I'd like to state I spend hours deciding on the appropriated combination of indiors, blah blah blah, I didn't think of this method. A FFF (Forex Forum Buddy) suggested a scalping method that I immediately applied to the daily. I did modify it a little, added that the HMA, deleted an indior I didn't feel did anything, and here we are. I don't have a name for it - many viewers here can help create one.
That I have no MM or EA for this yet. If it turns out to be successful, I'll move it to the System Forum and allow the masses disect it, then alter it, fight it over, EA it to death (while I trade it is and make a lot of pips).
I've attached a chart which is going to be the beginning of this thread. I am sure that you will see to trade this, but I will offer the method and template so thoughs that would like to follow along can. Please do not take my trades as signals for you - let me remind you I've blown a number of live account ! This transaction was taken by me at 4:00pm CST and it went away in my own favor as you can see. It's now 7:00pm and its still in my favor plus $38(Since it's sunday it is going to take a while for this transaction to actually get going).
I am leaving for dinner soon so that I will put my way of investing in another entry later tonight. I expect others will come along for this journey, all opinions are welcome.