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Sao Carlos SP/Brazil
Posts: 6 since May 2018
Thanks Given: 0
Thanks Received: 1
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Hello everyone, I decided to start an online journal, to create a commitment to myself in relation to objective and defined plans, and also so that someone who has interest can help me giving me feedback on issues that I can improve  .
A little bit of the journey up here:
1 year and 2 months (full time) since the beginning of studies in Trading;
Approximate hours spent ratio:- 80% Studies
15% Simuation
5% real account
2 simulation periods with 1 month of consistent earnings every day in each period.
Forms of study:- several hours from youtube
16 books read, 80% of 4 Al Brooks' completed, revised and understood
Several hours of introspection with my thoughts.
Phase I am:
After having confidence in the Al Brooks setups and trying to simulate for 1 month, 8 hours a day and 100% focused, I discovered that I am not an experienced trader but a beginner. I looked for more experienced people in Price Action and preferably in the Al Brooks style, so I decided to use the rules of ninetrans for beginners.
--------------------------------------------------- At least 10 points each week;
For 10 consecutive weeks;
With at least 10 days of no trades;
At least 10 consecutive winning days;
Biggest losing day at most half of average winning day (i.e. if your average winning day is +2, your max loss day should be -1);
2 strikes rule, but I'll use the rule twice on the day, once in the morning and once in the afternoon.
---------------------------------------------------- 1st SETUP: A2 - A second attempt to reverse a pullback move near the ema. with all the trend and variation considerations of A2. SETUP BAR Does it have to be regular to avoid whipsaw? :?:
Instrument: EUR / USD, because of the small margin required;
Time Frame: M5, being carefull with major levels on higher time frames;
Chart with 20 EMA.
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Management setup considerations:- Size: 1% account on every entry;
Entry: on stops 1 tick beyond setup bar;
SL: 1 tick beyond setup bar if deep pullbacks with shaved or 1t bars, 5t SL;
Take Profit: 75% Entry on 2x Risk and 25% Entry for maximum SWING.
:?: SL has to be larger depending on the recent pattern of the bars? Is TP acceptable in this way?
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