Alkonost Trading Journal

[Vlady]

After not being able to open a trading journal thread on forexfactory, I found this awesome site. This is just my personal accountability system. I hope that by writing every trade before I make it - it will slow m down a bit from jumping from trade to trade.

So here we go...

My trading rules:

1. Trade on the graph using 5M.
2. Trade EURUSD only
3. Don't trade news. Trade AFTER NEWS.
4. Enter 0.2 lots at a time.
5. No trade should be executed before the data is drawn on the chart. Every trade is plotted on the chart for analysis BEFORE the trade.
6. No overnight trades

ENTRY RULES LONG
1. USD Crosses BELOW EUR on 5M (lower is stronger)
2. USD Unity Crosses ABOVE EUR Unity on 5M (higher is stronger)
3. Rule 1 confirmed by Cross on 1H.

ENTRY RULES SHORT
1. USD Crosses ABOVE EUR on 5M (higher is weaker)
2. USD Unity Crosses BELOW EUR Unity on 5M (lower is weaker)
3. Rule 1 confirmed by Cross on 1H.

1. EXIT RULES:

If the price is in the desired direction: Exit 1 : Resistance level.
Exit 2 : 30 pips GAIN
Exit 3: Price trailing above 30pips gain
Exit 4: Exit on Cross against the trade
Exit 5: -30$ loss

Weekly Goal:

1. Achieve at most 1.5% drawdown of the full account (i.e. at no point should you be at -150$).
2. Gain 2% or more.
3. Use EURUSD chart as little as possible. Use only 2 indicators Cross and Unity.

 

[Vlady]

*Updated

ENTRY RULES LONG EURUSD
1. USD Crosses ABOVE EUR on 5M (higher is weaker USD)
2. USD Unity Crosses BELOW EUR Unity on 5M (lower is weaker USD)
3. Rule 1 confirmed by Cross on 1H.

ENTRY RULES SHORT EURUSD
1. USD Crosses BELOW EUR on 5M (lower is stronger USD)
2. USD Unity Crosses ABOVE EUR Unity on 5M (higher is stronger USD)
3. Rule 1 confirmed by Cross on 1H.

 

[Vlady]

* Updated

EXIT RULES:
Exit 1 : Resistance level.
Exit 2 : 30 pips GAIN
Exit 3: Price trailing after 30pips gain
Exit 4: Cross against the trade
Exit 5: -30$ loss