the road to profitability

Discussion in 'Journals' started by gpudi, Dec 6, 2011.

  1. gpudi

    gpudi

    hi every one i have just started to learn about trading, specifically currencies. I am sixteen years old so i have a considerable amount of time before i will have enough money to trade live. Hopefully my trading on simulators will prepare me as much as i can for the real thing. I realize that trading a live account can be a big difference than a simulator but it will have to settle for now. I mostly trade in the Eur/usd pair. I trade off of the 30 minute candles and use fibonacci retracement patterns to enter my trades. I usually will look fora a large move ina direction draw the fibonacci line and trade off of resistant and supports(usually looking for small moves on all levels. I tend to use a risk reward ratio 1.5-1- 2-1. I realize that i should try to look for trades with higher risk/reward but am having diffuculties finding these trades. I usual trade in 1euro per pt and want to keep this size to keep my simulated trading as realistic as possible. I wil try to begin posting most of my trades. I am doing this so i can get helpful criticism to improve me as a trader. i am willing to consider all advice and really need some guidance from fellow traders because i dont personally know any. Please comment on my strategy and my trades(when i begin posting them
    Thanks
     
  2. gpudi

    gpudi

    copper
    entry 357.20
    got stopped out 356.02

    i was was trying to go long at a resitance level that was previously broken through easilyas it turned into support. My stop loss showed me i was wrong

    i just went long at support at 353.58
    take profit 355.14
    stop loss 352.09

    cmcs simulator stops working alot!!!!
     
  3. gpudi

    gpudi

    got stopped out on that copper trade. at least i had moved it to break even. I am learning about stochastics and hope to implement it into my trading( any tips?)
     
  4. gpudi

    gpudi

    i got stopped out on that copper trade. at least i moved my stoploss to break even. i am learning about stochastics and want to implement it into my trading. i feel as though my trading style needs enhancement( any tips)
     
  5. gpudi

    gpudi

    got stopped out. at least i moved my stop los up to break even. I have been learning about stochastics and am trying to implement it into my trading ( any tips?)
     
  6. gpudi

    gpudi

    this imag eisnt me by the way i just googled currency trader:p
     
  7. gpudi

    gpudi

    long euro 33944
     
  8. gpudi

    gpudi

    out 34012
     
  9. gpudi

    gpudi

    just made some money picking up euros under 1.3000000 and selling them when they cross over. had about 5 good trades with that
     
  10. gpudi

    gpudi

    just made a pretty good trade in catlle making me about 20 bucks on a lot. THis was great until i found out the market closed. I didnt know feeder cattle market was only open 4 hours. i hope i can get the price at the open tommorow. Blraaaagh rookie mistake
     
    #10     Dec 20, 2011