Pippiper Trade Journal
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Thread: Pippiper Trade Journal

  1. #1
    Tkna1964
    Guest
    I'm starting this thread to find out if I could develop a small account over time. All these are many who say that you have to have a certain amount of money in order to survive these markets. I disagree with this and believe with appropriate risk and money management it could be carried out. I have opened an account at FXsol with $425.00 and will exchange micro-lots.

    I will do so with using no more than 3% of my margin at any given time, and no more than 1.5percent on any given trade. I have put margin at 1:400.

    I have put a delta of $100 so that I will add 1 micro-lot for each $100 that I profit. In my account should fall back to the level that I included a micro-lot, I will return to trading the first number of micro-lots.

    My weekly goal will be 5%, at the time that I accomplish that goal, I shall not begin any more trades to the week. If I shed 3 consecutive trades I shall stop trading to the week.

    In the end of every month that I will pay myself 10% of total profits earned for the month.

    I will focus on trading support and resistance levels, patterns, and fashion lines.

    My goal on each trade would be to get at the minimum, a 1:2 risk to reward ratio, although trading is subjective in character, I believe this could be achieved more frequently than not.

    By posting my trading outcomes, this can hold me accountable for my own actions. I'm a very spontaneous person by nature and have experienced the dubious luxury of learning how what impulse trading could perform to an account. I have been trading Forex for almost 2 1/2 years and have heard a lot not only about the markets, but what type of individual that I am. I believe that the Holy Grail lies between our two ears. I am not looking to become rich or to double my account immediately, what I am attempting to do would be to demone that an account could be grown over time with appropriate management.

    Please don't hesitate to post any comments that you might have. Good trading.



    in the event that you always do what you've always done, you can always get what you've always gotten. In case you want what you've never had, you need to do what you've never done.

  2. #2
    Tkna1964
    Guest
    Thank you for your reply. I really don't know how I could approach this diary, whether or not I can post each trade that I take, or to place an overview. I really started trading this account as of April 27th. I have attached both week 1 and week two account statements. I did really well the past week but fell short of my weekly goal a bit on both weeks. I am not complaining by any means. This week I stopped trading on Wednesday because I had been up about 4.5 % for the week.

    I will do my very best to place a daily overview of the trades that I took and where I reside. I agree that consistency is a must in order to get the maximum out of it, not just me, but others too.




  3. #3
    Awaiting for ur gr8 trade..buddy!!


    sonic


  4. #4
    Tkna1964
    Guest
    Not a bad day today. I entered 3 transactions early this morning where 2 were profitable. I am currently holding a eur/usd brief from 1.5555 and am looking for at least a test of 1.5490. I will see how things look if and when we arrive. My stop is over 1.5600. I have attached the chart of my euro trade. The other transactions I took are as follows.Gbp/jpy brief at 203.25 (stopped out at 203.75) -50 gbp/jpy brief at 203.30 (covered at 202.70) 60 usd/jpy brief at 103.89 (covered at 103.40) 49 In addition, I have a sell limit order in place for aud/usd at 9499 and will have ceased above 9545 and will look for a retest of trend-line on daily chart. That's all for now. Fantastic trading.

  5. #5
    Tkna1964
    Guest
    A quick upgrade. I shut my EUR/USD short from yesterday for 60 pips. I am currently holding a USD/CAD long from 1.0015 with a halt at .9975. I am looking for a move to at least 1.01. I missed a few fine entries this morning as I had a doctor appointment. That is all for today. Good trading.

  6. #6
    Tkna1964
    Guest
    Early this morning I was stopped out on my usd/cad long -47 pips. I managed to pull 88 out of a few intra-day plays which places me 37 for the day. I exchanged usd/chf, usd/jpy, and eur/usd about the intra-day plays. That is all for today.

  7. #7
    Just have the time to comment a bit, from my own experience, writing a diary needs consistency, and consistency is something that is CRUCIAL in Forex trading. I have written in my diary and it is ok to say today, that I am pleased to have the diary - it actually will help sharpen our mind and action once we wrote them down, and if we read back what we have done before this, it truly is something. . Our mind is basically'organized' - all of the records are all there - therefore,

    I hope you will continue writing daily (like mine or anyone - or like Steviet - for years he keeps on writing before heor she to me, is a successfull trader himself), so the advantage will not only be to you especially, but to others reading as well.

    Good fortune.

    Caireono.

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