This journal is created to keep track of my 2nd demo trading assignment. I will post my demo account update . I#8217;ll also try to post my pre-trade analysis, when possible, and also my post commerce analysis. Everybody is welcome to share ideas, discuss transactions (as long as it is in GBPUSD), and examine pre-trade setups.
Objectives: a) 100% Account Growth; b) 20 percent Max Drawdown, c) 3 Max Consecutive Losses, d) Finalize Rules for Strategy
Start Date: September 15, 2008
End Date: (open)
My Trading Session: 01:00-12:00 EST
Starting Balance: $5,000
Currency Pair traded: GBPUSD
Type of Trader/Trades: Short-term
Trading Approach: Trend Continuation, Breakout
Account Risk per Trade: 5%
I don#8217;t have a finalized set of rules on my trading egy nonetheless, therefore I won#8217;t bill them. Maybe in the end of the assignment or when I finalize it, I might.
Tools and Strategy in a Nutshell: Pivot Point, Plogical Degrees, Visible SR Levels comprises my map. Fibonacci Analysis, Trend Lines, Chart Formations and MACD Divergences are my manuals.
On very first chart, M5, it shows wave down, or the conclusion of current wave down if there's no e and f waves. Second chart M15 indies a potential wave up if a fib retracement level holds, or if the ascending trendline holds and stage 1 isn't crossed. No news yet for cable till 4:30 EST.. Gonna wait till price action tells me what is happening.