Monday, October 26, 2009

My Trading Strategy

What I trade
  • All Forex
  • All Grains
  • All Livestock
  • All Softs except Cocoa

Entry / Exit Rules

  • I get in on the daily chart cross (correct angles) if the weekly chart is trending in the same direction
  • I exit on a cross or when the trade has gone in the wrong direction two days in a row

My Stops Are

  • 2 x 10 day ATR for Commodities
  • 2 x 5 day ATR for Forex

My Maximum Risk per Trade

  • 5% of my account

Monthly Target

  • 5% per month increase on my account

Statements About My Trading

  • I take every trade that satisfies my rules. I check that I am not risking too much on any one trade and if I am I don't take the trade
  • I am patient with my trading education and know that I can't learn everything overnight
  • I am responsible for ALL my trades
  • I will not trade when I feel angry or pressured about external factors not related to trading

Additional Notes

  • I make sure I have peace and quite when I trade
  • I only open the platform once daily
  • I'll simulate for a month before trading a new strategy

Trading Diary

  • I will continue to use my blog as my trading diary
Bookmark and Share

No comments:

Post a Comment