photo
Earn up to
$50000
for inviting friends
to get StartUp Bonus
from InstaForex
No investments required!
Start trading without
any investments and risks
WITH NEW STARTUP
BONUS 1000$
GET BONUS
55%
from InstaForex
on every deposit
  • Amazed
  • Amused
  • Angelic
  • Angry
  • Asleep
  • Bashul
  • Bitchy
  • Blah
  • Bored
  • Breezy
  • Brooding
  • Busy
  • Buzzed
  • Chatty
  • Cheeky
  • Cheerful
  • Cold
  • Confused
  • Cool
  • Crappy
  • Cynical
  • Daring
  • Dead
  • Devilish
  • Doh
  • Doubtful
  • Drunk
  • Fine
  • Flirty
  • Goofy
  • Grumpy
  • Happy
  • Hot
  • Hungover
  • Innocent
  • Inspired
  • In_Love
  • Lonely
  • Lurking
  • Mellow
  • Paranoid
  • Pensive
  • Psychedelic
  • Relaxed
  • Sad
  • Scared
  • Shocked
  • Sick
  • Sleepy
  • Sneaky
  • Stresses
  • Tired
  • Twisted
  • Worried
  • Yeehaw
  • Reply to Thread
    Page 184 of 229 FirstFirst ... 179 182 183 184 185 186 189 ... LastLast
    Results 1,831 to 1,840 of 2287

    Thread: Bidyut's trading journal

    1. #1
      MT5 Veteran
      I am:
      Inspired
       
      bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut has a reputation beyond repute bidyut's Avatar
      Posts
      4,315
      Accumulated bonus
      1505.61 USD (What is this?)
      caught pokemons
      412 (What is this?)
      Thanks
      13,895
      Thanked 6,924 Times in 1,821 Posts

      Default Bidyut's trading journal

      Introduction: This is my first trading journal in mt5 forum and it is in a demo account. Iíve opened a demo account with 500 USD balance. The main purpose of opening this demo account is only for making a trading journal in mt5 forum. Long time back our respected moderator dzin4aans had encouraged me to open a trading journal. But due to some unforeseen reasons I was unable to give attention in this regard. After looking at many trading journals available in this section Iíve got some positive energy and a lot of good motivation to open my own trading journal. Now I think it is the right time to open a trading journal.

      Main motive of opening a trading journal: First of all I want to improve my trading by sharing my own trading system. By opening a trading journal here I would definitely get an opportunity to interact with other good traders. They can suggest, guide me for opting a better trading system. This is one of the best ways to engage myself in improving my existing trading strategy.

      Why Demo Account: This is my first trading journal in mt5 forum. Still I consider myself as a leraner and I want to improve my trading and it is only possible through demo account. Second reason is that I want to open a separate account (real trading account) for trding journal. But at this moment Iím not fully prepared myself (financially) to open a real account for this purpose. In other hand I donít want to wait for long to start a trading journal. So my main motive here would be to engage myself in a good discussion where we can share knowledge and learn everything which is required to be a good trader.
      In future I would definitely go for a trading journal where I can show real profit in real account. Once I get ready for that I would definitely inform you all through this journal or through my signature.

      My strategy:

      Support & Resistance: From the very beginning I am trying to trade on support and resistance levels. So my main focus would be to see support and resistance levels of a particular pair on a daily basis before opening any order. Iíll try to open orders by looking at support and resistance levels. Most probably my buy orders would be above support levels and sell would be below resistance. In addition Iíll try to take decisions of opening any order by looking at price action.

      Price Action: It is important to watch in which direction a particular pair is moving where weíre going to trade. In simple words Price action gives us an idea where the price is moving. When I see 3 to 4 candles formed an upward trend in other words when few bull candles form an uptrend Iíll go for a buy order. In opposite if I see few bear candles lined up in a row to form a downward trend, Iíll go for sell order. So here I would go for trading on any pair by following price action.

      Chart Type: I would like to trade in a clearly visible chart and I consider candle stick chart as a best option for me. I do not use too much indicators. Itíll consists of only support and resistance levels.
      Time Frame: I prefer to see 1 hr, 4 hours, daily time frames to decide where the price is moving or to predict the actual trend I will go for these time frames. To open any order or to check entry point Iíll go for only 1 hour chart.

      News Events: As we know fundamental or economical news are very important to watch while taking any trading decisions. Iíll keep an eye on day to day news events to trade. The best way to watch any types of news events is through economic calendar. Most of the movements take place in any particular pair due to news releases. Even technical trader canít ignore the importance of fundamental news or any economic data releases (e.g. NFP) etc. Sometimes I would stop trading during high impact news. In other words Iíll be very careful during news events and try to avoid trading in case there are no clear movements.

      Lot Size: I would go for 0.10 LOT size (per order) at the very beginning. I may go for many orders at a time but not more than 1 LOT in total. For example, 10 orders with 0.10 lot size orders. Sometimes I may go for averaging my trades by taking additional lot size orders. Gradually I will try to increase the lot size orders with growing account balance.

      Target: Anywhere from 10 to 100 pips. I can decide only after looking at the levels. Sometimes I may not give any target and close all orders manually.

      Stop Loss: Iíll try to put a stop loss in some trading positions but not in all trading positions. Again itíll depend on the levels and also in the movement of a particular pair. In case I put stop loss in any pair itíll be around 50 pips.

      Long term or short term: My goal would be to take profit from every trade in a short term period. I prefer short term trades because it is easy for me to handle. In case I see slow movements in any trade Iíll keep the order for long hours and definitely wait for the price to trigger the target ( if I put TP).

      Trading Pairs: I would like to trade on major pairs (EURUSD, GBPUSD etc.). Also I would go for high volatility pairs for example, GBPNZD, GBPJPY etc. Sometimes I will try to trade in Gold and Silver if I get good confirmation.

      Risk-Reward Factor: As it is not a contest account Iíll try to go slowly. I believe in steady growth and not in sudden growth as far as forex trading is concerned. I would only go for 5% to 10% risk, and not more than that. Similarly, Iíll try to make decent profit from every trade. If I see it is worth to wait for a particular trading position then Iíll wait for it to get more profit out of it. For any trader to sustain in the market is more important than anything else, so I will try to avoid any unnecessary risk. Sometimes I would go for cut losses in the form of stop loss or by closing manually. Once we learn how to manage risk weíll automatically able to grow our trading account to a satisfactory level.

      To my fellow members: I hope there is no doubt about my trading plan. I do not want to complecate things, so Iíll try to elaborate every trade with clarity. Iím ready to answer you if youíve any questions regarding my trades or anything related to my trading journal. Iíll be grateful if we can stick to the topic and not talk about anything off topic in this section. Your good suggestions are always welcome. Thanks to everybody for visiting here. Lets start together!


    2. #1831
      FX Super Hero
      I am:
      Cheerful
       
      786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk has a reputation beyond repute 786pk's Avatar
      Posts
      1,166
      Accumulated bonus
      1147.81 USD (What is this?)
      Thanks
      1,681
      Thanked 4,604 Times in 1,125 Posts

      Default

      Calculating proper risk level is mandatory in Forex trading infact you can get success without it properly so you must develop a proper money management plan by yourself and you must need to follow the rules set by you because if you avoid these things then you face a huge problem in near future!


    3. The following 9 users say Thank You to 786pk for this useful post.

      bidyut (04-16-2018), Bobby brown (04-18-2018), bocahedan (04-16-2018), harbir (04-16-2018), Honey Bee (04-16-2018), shahidmehmopd (04-16-2018), Unregistered (2), zahidmehmood (04-16-2018)

    4. #1832
      My charts talk to me!
      I am:
      Relaxed
       
      shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd has a reputation beyond repute shahidmehmopd's Avatar
      Posts
      731
      Accumulated bonus
      430.67 USD (What is this?)
      Thanks
      4,269
      Thanked 3,543 Times in 757 Posts

      Default

      Quote Originally Posted by 786pk View Post
      Calculating proper risk level is mandatory in Forex trading infact you can get success without it properly so you must develop a proper money management plan by yourself and you must need to follow the rules set by you because if you avoid these things then you face a huge problem in near future!
      Yeah it's essential to evaluate ourselves by calculating proper risk level according tp your money management. No doubt the good profit attract but at same time if we forget our rules then may lose some of capital due to greed of more profit by not setting SL or enlarging our SL for the reversal of market trend.


    5. The following 9 users say Thank You to shahidmehmopd for this useful post.

      786pk (04-17-2018), bidyut (04-16-2018), bocahedan (04-16-2018), harbir (04-16-2018), Honey Bee (04-16-2018), simisola (04-16-2018), Unregistered (2), zahidmehmood (04-16-2018)

    6. #1833
      It's time to retire!
      I am:
      Angelic
       
      harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir has a brilliant future harbir's Avatar
      Posts
      12,945
      Accumulated bonus
      2892.92 USD (What is this?)
      caught pokemons
      2 (What is this?)
      Thanks
      833
      Thanked 1,778 Times in 549 Posts

      Default

      Quote Originally Posted by 786pk View Post
      Calculating proper risk level is mandatory in Forex trading infact you can get success without it properly so you must develop a proper money management plan by yourself and you must need to follow the rules set by you because if you avoid these things then you face a huge problem in near future!
      Yes you are right that it is very important for us that we follow all the rules of the Forex trading business because without that we will struggle a lot here and to be able to successful in Forex we need to go step by step following all the rules and the parameters which are said to be followed at all the times and this is why it is so important for us.


    7. The following 9 users say Thank You to harbir for this useful post.

      bidyut (04-16-2018), bocahedan (04-16-2018), Honey Bee (04-16-2018), loveyo (04-16-2018), simisola (04-16-2018), Unregistered (4)

    8. #1834
      FX Vampire
      I am:
      ----
       
      bocahedan has much to be proud of bocahedan has much to be proud of bocahedan has much to be proud of bocahedan has much to be proud of bocahedan has much to be proud of bocahedan has much to be proud of bocahedan has much to be proud of bocahedan has much to be proud of bocahedan's Avatar
      Posts
      1,910
      Accumulated bonus
      581.70 USD (What is this?)
      Thanks
      879
      Thanked 1,250 Times in 397 Posts

      Default

      Quote Originally Posted by harbir View Post
      Yes you are right that it is very important for us that we follow all the rules of the Forex trading business because without that we will struggle a lot here and to be able to successful in Forex we need to go step by step following all the rules and the parameters which are said to be followed at all the times and this is why it is so important for us.
      Yeah,we need to follow all trading rules in order to get success in forex and to be able to do that,we need to keep up our discipline. We can become more discipline,if we have a good self control,by having a good self control we can avoid getting controlled by greed and emotion when we are trading.


    9. The following 11 users say Thank You to bocahedan for this useful post.

      bidyut (04-16-2018), Honey Bee (04-16-2018), Leonvic90 (04-17-2018), Neriah (04-16-2018), Oghale (04-16-2018), simisola (04-16-2018), Timon (04-16-2018), Unregistered (4)

    10. #1835
      Forum Master
      I am:
      Cheerful
       
      penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir has a reputation beyond repute penuelophir's Avatar
      Posts
      7,336
      Accumulated bonus
      2921.58 USD (What is this?)
      Thanks
      4,052
      Thanked 8,069 Times in 2,910 Posts

      Default

      Quote Originally Posted by shahidmehmopd View Post
      Yeah it's essential to evaluate ourselves by calculating proper risk level according tp your money management. No doubt the good profit attract but at same time if we forget our rules then may lose some of capital due to greed of more profit by not setting SL or enlarging our SL for the reversal of market trend.
      The first thing I believe that most of us should be doing when we started trading is to develop an effective trading system and once that is done then making sure that you always stick with good money management is the next thing in line because it is the backbone of successful forex trading! Since I changed my mindset about using high trading lot then my trading experience have changed and I am not making good trades without being disturbed by emotions!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


    11. The following 3 users say Thank You to penuelophir for this useful post.

      bidyut (04-16-2018), Honey Bee (04-16-2018), shahidmehmopd (04-17-2018)

    12. #1836
      FX Super Hero
      I am:
      ----
       
      Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee has a reputation beyond repute Honey Bee's Avatar
      Posts
      1,304
      Accumulated bonus
      782.70 USD (What is this?)
      Thanks
      4,873
      Thanked 4,278 Times in 1,021 Posts

      Default

      Quote Originally Posted by harbir View Post
      Yes you are right that it is very important for us that we follow all the rules of the Forex trading business because without that we will struggle a lot here and to be able to successful in Forex we need to go step by step following all the rules and the parameters which are said to be followed at all the times and this is why it is so important for us.
      Their is no restriction in forex of making profit we will earn unlimited which we can earn according to our knowledge and experience, their is no difficult rules applied in this business we can start will small amount and take this business seriously then in few month we will makes a good monthly profit from this business.


    13. The following 10 users say Thank You to Honey Bee for this useful post.

      bidyut (04-16-2018), Leonvic90 (04-17-2018), loveyo (04-16-2018), Neriah (04-16-2018), Oghale (04-16-2018), penuelophir (04-16-2018), shahidmehmopd (04-17-2018), simisola (04-16-2018), Sixteen (04-16-2018), Timon (04-16-2018)

    14. #1837
      Banned
      I am:
      ----
       
      simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola has a reputation beyond repute simisola's Avatar
      Posts
      6,687
      Accumulated bonus
      2486.28 USD (What is this?)
      Thanks
      14,767
      Thanked 11,535 Times in 2,913 Posts

      Default

      Quote Originally Posted by bigani View Post
      Learning are in different categories,we have the theory were all you do is to make sure you read as many materials as possible and watch videos,then the practical part involves putting what you have learnt into good practice,that is the part were you need the demo account or the cent account as some will prefer to practice all that you have learnt and to perfect your trading strategy.
      The practical aspect is where many of us make the greatest mistake in the market, we have the head knowledge about what we are supposed to do in certain circumstances but when the opportunity comes, we find ourselves doing something completely different which is why we may not become professional even though that is what we truly want.


    15. The following 9 users say Thank You to simisola for this useful post.

      bidyut (04-16-2018), Leonvic90 (04-16-2018), loveyo (04-16-2018), Neriah (04-16-2018), Oghale (04-16-2018), remmy (04-16-2018), Sixteen (04-16-2018), Timon (04-16-2018), zahidmehmood (04-16-2018)

    16. #1838
      I just can't quit pips!
      I am:
      Inspired
       
      loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo has a reputation beyond repute loveyo's Avatar
      Posts
      5,495
      Accumulated bonus
      1496.04 USD (What is this?)
      caught pokemons
      230 (What is this?)
      Thanks
      3,912
      Thanked 6,258 Times in 2,171 Posts

      Default

      Quote Originally Posted by Honey Bee View Post
      Their is no restriction in forex of making profit we will earn unlimited which we can earn according to our knowledge and experience, their is no difficult rules applied in this business we can start will small amount and take this business seriously then in few month we will makes a good monthly profit from this business.
      Agree with you dear sister Honey Bee and it's true their are no limit earning in Forex business because anybody can get unlimited profit from Forex. I think making profit from Forex not so easy but possible in we hard work, achieve good skills, experience, get proper knowledge, proper analysis, follow good money management and discipline on trading then we may success and get good profit from Forex market other wise we face loss that's true. Thank you.


    17. The following 7 users say Thank You to loveyo for this useful post.

      bidyut (04-16-2018), Leonvic90 (04-16-2018), Neriah (04-16-2018), Oghale (04-16-2018), simisola (04-17-2018), Sixteen (04-16-2018), Timon (04-16-2018)

    18. #1839
      Banned
      I am:
      ----
       
      Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah has a reputation beyond repute Neriah's Avatar
      Posts
      1,261
      Accumulated bonus
      857.59 USD (What is this?)
      Thanks
      7,405
      Thanked 6,632 Times in 1,095 Posts

      Default

      They say that practice makes perfect, if this is true then we know that the forex market is where this is very important, we cannot gain much experience from this business in the absence of spending enough time to understand the chart and our system, we won't become successful if we are always in the search for a short cut to earning.


    19. The following 8 users say Thank You to Neriah for this useful post.

      bidyut (04-16-2018), Leonvic90 (04-16-2018), Oghale (04-16-2018), simisola (04-17-2018), Sixteen (04-16-2018), Timon (04-16-2018), Unregistered (2)

    20. #1840
      Banned
      I am:
      Daring
       
      Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90 has a reputation beyond repute Leonvic90's Avatar
      Posts
      2,319
      Accumulated bonus
      1427.17 USD (What is this?)
      Thanks
      10,506
      Thanked 8,249 Times in 1,662 Posts

      Default

      There is a limitation to our achievement from the forex trading business as long as we refuse to practice, we will become professional through the effort that we take to stand in front of the computer and learn about our strategy, once we don't do this, there are many things that are likely to elude us as we trade.


    21. The following 9 users say Thank You to Leonvic90 for this useful post.

      bidyut (04-16-2018), Neriah (04-17-2018), Oghale (04-16-2018), simisola (04-17-2018), Sixteen (04-16-2018), Timon (04-16-2018), Unregistered (2), zahidmehmood (04-16-2018)

    Reply to Thread
    Page 184 of 229 FirstFirst ... 179 182 183 184 185 186 189 ... LastLast

    Tags for this Thread

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts