
This blog is my online trading journal. I publish all my trades, wins, losses, and profits publicly to share my journey with the world as well as to help hold myself accountable... Even if no one reads it. I trade foreign currencies in the spot market based on Fibonacci retracements, combined with RSI levels/divergence, and the Hurst exponent to validate reversal confirmations. The Goal: A meager 10-25 pips per trade. In the future I may begin to do more trading related 'blogging.'
Monday, July 5, 2010
Thursday, July 1 Trades - +2.88% Profit
July is off to a great start! I have shifted my goal of obtaining 1% profit per trade, to 2% per trade. By utilizing this strategy I believe it will help with my stop losses and help keep my account value to average out to 1% per day (5% - 6%) weekly. If this holds true, it should only better improve my overall account earnings. 1% extra per trade is not much - especially if I have already chosen the proper direction. This will potentially give me double the account growth I have been testing for, but may also force me to better adjust my stop losses in the future to account for fewer profitable trades only capping out near the 1% profit range. Also am still working on better using stop loss orders. I need to create a chart converting pips into dollars to help me apply these limits more quickly to orders. Because of this the first day closed out with almost a 3% profit on my account.

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