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    Rookie martyn's Avatar
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    Martyn Journal

    Hello, this is my first time make a journal about forex trading, sorry if iam make a mistake while making trading journal.

    I am a long or short-term swing trader, most of the techniques I use in trading is quite varied, because I always find that the opportunities in forex trading enter and exit from the market, so I do not care if I have a long or short-term trading. Regarding the indicators that I use also vary, according to market movements, I use indicators MA, zigzag, CCI, MFI, WPR, fractal and A/D, I'd want to use the MACD but till date I have not understood how to apply this indicator in forex trading.


    Trading method that I use is I use multiple time frames from M1 - H4. To looking for enter signal i using one of the fractal indicator, CCI, WPR, A / D, MFI, and MA, while iam looking exit signal I use one of the zigzag indicator, WPR, and CCI.

    Money management and trading rule that I use is not using ratios, so only use approximations, depending on the leverage that I use, usually a margin that I often use in forex trading is about 5-10% of the total margin. I do not use stoploss and takeprofit, because Iam trading with the simple principle : get profit or margin call, so I rarely closing loss order unless I'm having a very good analysis at the time.

    My objective:
    I wanted to develop a strategy that I use, although not very accurate, but at least I hope to make a good profit, and I also wanted to experience an increase in trading psychology, because I often have stop out when I'm poor trading psychology. Regarding the profit target I want to achieve a minimum of about 10% per month, and I hope it can be more again.

    By the way Iam trading in some pair currency, I using EUR / JPY, GBP / JPY, NZD / USD, AUD / USD, USD / JPY, EUR / USD, GBP / USD, USD / CHF, and USD / CAD.

    Later I will share information about my trading journal, and I hope it can be useful

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    Last edited by martyn; 12-17-2013 at 08:33 PM.

  2. #231
    Registered user ict2014's Avatar
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    Quote Originally Posted by biru View Post
    Good money management and good money management is really helpful for us and if we are use these methods then we can easily make huge profit from this market. I always like to use a good trading strategy which is very helpful for all of us and we will never get high earning from forex until we are make good plans and good risk and reward management for get high earning from this business.
    This is not false that money management is the backbone of the business. I consider forex business slightly different from other business as this is not easy matter where i take an attempt to open sell or buy order and how much pips i want to make a profit and if my trade goes to negative side then how much pips i will accept as a loss. Moreover, i want to say here different are equally important such as money management, true analysis and perfect execution of our selecting trading strategy.

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  3. #232
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    Quote Originally Posted by ict2014 View Post
    This is not false that money management is the backbone of the business. I consider forex business slightly different from other business as this is not easy matter where i take an attempt to open sell or buy order and how much pips i want to make a profit and if my trade goes to negative side then how much pips i will accept as a loss. Moreover, i want to say here different are equally important such as money management, true analysis and perfect execution of our selecting trading strategy.
    You are right the money management is the backbone without which trader cannot be in the market for long. I think certain things are highly useful during trading. I think it is very important that I understand properly the strategy I use and trade with small lot size. Easy way to success means that you are looking for a short cut and that is a big mistake.

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  4. #233
    Registered user ola4real's Avatar
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    Quote Originally Posted by geddam View Post
    You are right the money management is the backbone without which trader cannot be in the market for long. I think certain things are highly useful during trading. I think it is very important that I understand properly the strategy I use and trade with small lot size. Easy way to success means that you are looking for a short cut and that is a big mistake.
    The forex traders that can not have the attributes of trading with money and risk management will only be wasting his forex investments all the time. We should know that we can not be saved in our trading by any other means than for us to trade with what will make our forex account to always survive. It is money and risk management that can do that.

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    I think this is enough important associated with pips points estimation in my trading journal. Note that I use the 5-digit decimal chart, so all I give trading recommendations using 5 decimal digits. For example, if the recommendations min about 30 pips profit, meaning that the expected profit about 30 pips. While in chart 4 decimal digits, that meaning 3 pips profit, not 30 pips

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  6. #235
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    the indicators that forms the strategy is good and so they may make the trading is good but getting of confirmation from all these indicators may delay the signals and weaken it and so it is better to decrease the number of indicators to get better chances and increase the possibility of earning always, the low risk also makes the trading less risky.

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  7. #236
    Registered user mexima's Avatar
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    Quote Originally Posted by sameeh View Post
    the indicators that forms the strategy is good and so they may make the trading is good but getting of confirmation from all these indicators may delay the signals and weaken it and so it is better to decrease the number of indicators to get better chances and increase the possibility of earning always, the low risk also makes the trading less risky.
    well if you using large number of indicator will make your signal more accurate how ever because of large indicator there are high chance that market will generate less signal because if one indicator indicate the signal then second indicator will refuse that signal and as result you will miss the market movement.

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  8. #237
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    Quote Originally Posted by mexima View Post
    well if you using large number of indicator will make your signal more accurate how ever because of large indicator there are high chance that market will generate less signal because if one indicator indicate the signal then second indicator will refuse that signal and as result you will miss the market movement.
    Excessive use of indicator does not improve our trade quality infact it will give more complex trade results which a serious trader avoid as far as we use limited indicator according to the learning and practice about them these are more successful for trader ,we must have to use indicator for different purpose so indicator results not refuse by other indicator .

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    Quote Originally Posted by Runner View Post
    Excessive use of indicator does not improve our trade quality infact it will give more complex trade results which a serious trader avoid as far as we use limited indicator according to the learning and practice about them these are more successful for trader ,we must have to use indicator for different purpose so indicator results not refuse by other indicator .
    I think Indicator is very important for trading because Forex trading is never a complete package without some essential tools. These tools are known as the technical analysis and its proper use. A lot of Forex traders know about good technical indicators but only few of them knows how to properly use those indicators. We can improve our trading performance if we know how to use the indicators properly.

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  10. #239
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    Quote Originally Posted by martyn View Post
    Hello, this is my first time make a journal about forex trading, sorry if iam make a mistake while making trading journal.

    I am a long or short-term swing trader, most of the techniques I use in trading is quite varied, because I always find that the opportunities in forex trading enter and exit from the market, so I do not care if I have a long or short-term trading. Regarding the indicators that I use also vary, according to market movements, I use indicators MA, zigzag, CCI, MFI, WPR, fractal and A/D, I'd want to use the MACD but till date I have not understood how to apply this indicator in forex trading.


    Trading method that I use is I use multiple time frames from M1 - H4. To looking for enter signal i using one of the fractal indicator, CCI, WPR, A / D, MFI, and MA, while iam looking exit signal I use one of the zigzag indicator, WPR, and CCI.

    Money management and trading rule that I use is not using ratios, so only use approximations, depending on the leverage that I use, usually a margin that I often use in forex trading is about 5-10% of the total margin. I do not use stoploss and takeprofit, because Iam trading with the simple principle : get profit or margin call, so I rarely closing loss order unless I'm having a very good analysis at the time.

    My objective:
    I wanted to develop a strategy that I use, although not very accurate, but at least I hope to make a good profit, and I also wanted to experience an increase in trading psychology, because I often have stop out when I'm poor trading psychology. Regarding the profit target I want to achieve a minimum of about 10% per month, and I hope it can be more again.

    By the way Iam trading in some pair currency, I using EUR / JPY, GBP / JPY, NZD / USD, AUD / USD, USD / JPY, EUR / USD, GBP / USD, USD / CHF, and USD / CAD.

    Later I will share information about my trading journal, and I hope it can be useful
    good afternoon, congratulations on the opening of this daily trading journal we can share useful knowledge and also we can exchange knowledge about forex trading, and when talking about forex trading strategy problems I see above that you use techniques from moving average indicators and I also often use techniques from pivot point indicators and also Moving averages and sometimes I often make some analysis with moving average indicators with several periods, and also I think the moving average indicator technique is very good and also very easy to understand and analyze

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