Ok, so I've been a keen observer of financial markets since about age 18-20 (I'm now 26), and in the last few years dabbled a little in forex, SPI, DAX, gold, crude oil, share and share index cfds.
A little bit of background: I've traded live before with what I'd deem as "good" results. I have schizoaffective disorder (schizophrenia w/ bipolar as the mood component), I'm sensitive to caffeine, and I take meds so I am mostly stable and I need about 9 hours of good quality sleep per day.
As well as spending over $20k in software, ebooks and education programs, I joined James16 group forums in the past, but to be honest, as I didn't have a job I couldn't afford the ongoing $129 monthly fee.
I have John Grady's course (No BS day trading) but using a DOM is too intense for me and leads to insomnia.
Rules/My trading plan:
- trade with charts (I'm using the Wizard's template (Holy Grail II)
- focus on using just 1 timeframe, have at most 2-3 different instruments open.
- max loss is 5% per day
- do not move stops, wait for targets to get hit
- post screenshots of each trade
6A
Stop: 0.6981
Target: 0.6944
CL
Stop: 31.04
Target: 31.36
I will demo and aim to make 3-5% per month until I get at least a part time job. When I get a job, I will go live with between 5-10k and trade small so I can build up some confidence.