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RM's Journal - FX and Price Action


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  #1 (permalink)
MSteven000
Sao Carlos SP/Brazil
 
Posts: 6 since May 2018
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Hello everyone, I decided to start an online journal, to create a commitment to myself in relation to objective and defined plans, and also so that someone who has interest can help me giving me feedback on issues that I can improve .

A little bit of the journey up here:
1 year and 2 months (full time) since the beginning of studies in Trading;
Approximate hours spent ratio:
  • 80% Studies
    15% Simuation
    5% real account
    2 simulation periods with 1 month of consistent earnings every day in each period.

Forms of study:
  • several hours from youtube
    16 books read, 80% of 4 Al Brooks' completed, revised and understood
    Several hours of introspection with my thoughts.

Phase I am:
After having confidence in the Al Brooks setups and trying to simulate for 1 month, 8 hours a day and 100% focused, I discovered that I am not an experienced trader but a beginner. I looked for more experienced people in Price Action and preferably in the Al Brooks style, so I decided to use the rules of ninetrans for beginners.
--------------------------------------------------
  • At least 10 points each week;
    For 10 consecutive weeks;
    With at least 10 days of no trades;
    At least 10 consecutive winning days;
    Biggest losing day at most half of average winning day (i.e. if your average winning day is +2, your max loss day should be -1);
    2 strikes rule, but I'll use the rule twice on the day, once in the morning and once in the afternoon.
---------------------------------------------------
  • 1st SETUP: A2 - A second attempt to reverse a pullback move near the ema. with all the trend and variation considerations of A2. SETUP BAR Does it have to be regular to avoid whipsaw? :?:
    Instrument: EUR / USD, because of the small margin required;
    Time Frame: M5, being carefull with major levels on higher time frames;
    Chart with 20 EMA.

-----------------------------------------------------
Management setup considerations:
  • Size: 1% account on every entry;
    Entry: on stops 1 tick beyond setup bar;
    SL: 1 tick beyond setup bar if deep pullbacks with shaved or 1t bars, 5t SL;
    Take Profit: 75% Entry on 2x Risk and 25% Entry for maximum SWING.

:?: SL has to be larger depending on the recent pattern of the bars? Is TP acceptable in this way?


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  #3 (permalink)
MSteven000
Sao Carlos SP/Brazil
 
Posts: 6 since May 2018
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Primeiro dia de execução do plano.


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  #4 (permalink)
MSteven000
Sao Carlos SP/Brazil
 
Posts: 6 since May 2018
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MSteven000
Sao Carlos SP/Brazil
 
Posts: 6 since May 2018
Thanks Given: 0
Thanks Received: 1


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  #6 (permalink)
MSteven000
Sao Carlos SP/Brazil
 
Posts: 6 since May 2018
Thanks Given: 0
Thanks Received: 1


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Last Updated on May 24, 2018


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