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Thread: $700 to $50,000 Journey

  1. #1

    $700 to $50,000 Journey

    Hello folks.

    Are trading for several decades. However, everytime when I get hit, it's because of greed.

    I will try my best to not let greed get in the way by means of this journal.

    Trading the pair only
    Daytrading from the 1 min chart
    From 7:00am - 12:00pm EST or during New York session
    Daily goal is 20 pips per day

    I'm expecting to miss alot of transactions so therefore I would need to stay in check with FOMO as well as greed.
    That I might have to await hours for couple good trades.
    Since beginning with little account, I will be trading very competitive.
    Analyzing the charts out of 4Hr, 1Hr, 5min and down to 1 min for the entry.
    Not interested in holding the trade more than a day or overnight because this pair includes lot of surprise risks.

    Don't hesitate to comment, place your gbp/jpy transactions or outcomes or anything that you want to contribute.

    Thanks!

  2. #2
    2 trading times so far, only trades GJ win rate 100% no drawdown sounds like you know your craft and your trading buddy (GJ) don't mess it up by putting too much strain on your account you're doing well. Even in the event that you've got a border that you may if you risk more than you and your account can manage you'll do silly things don't do it

  3. #3
    Quote Originally Posted by ;
    I dont want to discourage you but it doesnt look like that you're trading for several years,I suggest you to begin studying from atleast daily if not weekly.
    That he wrtoe:
    Trading the pair just
    Daytrading in the 1 minute chart
    From 7:00am - 12:00pm EST or during New York session
    Daily target is 20 pips daily

    do you think it is that significant and essential to analyze weekly, or even daily timeframe to scalp M1 timeframe?

  4. #4
    Quote Originally Posted by ;
    quote that he wrtoe: Trading the pair just Daytrading in the 1 minute chart From 7:00am - 12:00pm EST or during New York session Daily aim is 20 pips daily do you think that it is that significant and necessary to analyze weekly, or even daily timeframe to scalp M1 timeframe?
    You're a truly seasoned trader,therefore I wouldn't argue with you on this subject but I have traded 4 hourly with no consulting D1 and had very terrible experience.But I have not traded under 4HTF.

    May be 1 minute scalping is okay to proceed with 4HTF. In the event you find that this egy effective then I am also in,who doesn't want green pips. I had been sharing my experience and warning him to check Daily time frame.

  5. #5
    Hahaha... Awesome, as soon as I needed to start fresh with a new journal, I get a drawdown, what a bummer.

    Was not patient enough to wait for the setup later on the day.

    T4Trade. Thanks for the remark. I really do look at the daily/weekly TF once a day but since I trade intraday, I'm looking more in these lower TF's I mentioned.

    What a fantastic start, is not it?

    Let see how I do tomorrow.

    peace.

  6. #6
    Quote Originally Posted by ;
    Hahaha... Awesome, the moment I wanted to start fresh with a new journal, I get a drawdown, what a bummer. Wasn't patient enough to wait for the installation later on the day. . Thank you for the remark. I do look at the daily/weekly TF one time a day but because I trade intraday, I am looking more in these lower TF's I said. What a great start, is not it? Let's see how I do. peace.
    If u really adhere to the direction of W and daily and trade the lower time frame,then I would like to join to u to go over the pairs u r picking regular to trade.

  7. #7
    Quote Originally Posted by ;
    I'll try my best not to let greed get in the way through this journal.
    You state that you don't want desire to get in your own way. Still, you exchange with such large positions sizes to your account. It will just take a few losses to wipe out your account.

  8. #8
    May be this is that you already decided however, I may advise you to do scalping in 5 min chart better than 1 min TF,because you know you will find lot of noise in 1 min TF compared to 5min TF for scalping which might be difficult to differentiate the fluctuation in the trend reversals,


    and all the best for you success, happy scalping.

  9. #9
    Gal?ctico
    Guest
    [quote=FastPipn;10716771]Hi people. Have been trading for many years. However, everytime when I get hit, it is because of greed. I will try my best not to let greed get in the way through this journal. Trading the pair just Daytrading from the 1 min chart From 7:00am - 12:00pm EST or during New York session Daily goal is 20 pips daily I am hoping to overlook alot of trades so therefore I would have to keep in check with FOMO as well as greed. I may have to wait for hours for few good trades. Since beginning with small account, I will be trading quite aggressive.

    Hello, I wish you well BUT it does not matter how big your account is, so no need to exchange aggressively.

    You trade for%%%%% not $$/## your wins will mount up fast and even faster if you compound.
    Good Luck...

  10. #10
    Hey there Fastpipn

    Here is exactly what I see on your first trade. Over leveraging... poor implementation. . Then carried away with feelings for 41 minute. . Possibly some praying or cursing along that moment. And as soon as you breakeven you stop and promise to yourself, may be to not do that again. Few moments later you look at the chart and curse again.

    I believe most of us happen to be there but a few of us gone well beyond it and now making money consistently with very little risk and lot less stress. So it is not too hard to imagine where this may end up should you take a real actions and do the ideal thing.

    700 to 50,000 is not a fantastic journey to take. Better take 10 percent profit with max 5 percent DD every month for a year. That will take you over 50K over the long term.

    I expect it makr sense for you.

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