Sam's H1 Journal - Personal Live Account

[immy]

Starting this new journal to register all trades from my personal live account of 10K. Your feedback and inputs are much appreciated. 

Objective
Main Objective is to trade with consistency and discipline. Grow this account and learn from it. Trading on my personal live account will help me with two things 1) Earn extra cash and developed discipline 2) learn and not repeat same mistakes on MFF funded account. I am still on challenge so primary focus is to pass two phase challenges. 


Rules for this account

What is my trading time frames ?
H1

What are my pairs for trading ?
EU, GU, UJ, EJ, GJ, AU, Swissy, DAX40, NAS100, US30

Managing Risk on Correlated Pairs

Do not take trades on correlated pairs at the same time. For example, when i will take trade on UJ i will not take trade on any other Yen pair to avoid risk. Same goes for EU and Swissy and GU and GJ as well as Indices.

Trading Sessions

My trading sessions and times are as follow:
London Open  - 8:00AM UK - 11AM UK
Winter time - 5:00PM - 9:00PM (AEST)
Summer time - 7:00PM-10PM (AEST)

US Open - Only during Winter time and when i am available

Risk Per Trades
1% Per Trade

If the Balance is above 0 then the Risk Per Trade is 1.0%

Drawdown Protection:
If the Balance is below 2% then 0.5% Risk Per Trade. 
If the Balance is below -2% then 0.25% Risk Per Trade. 

Positive Balance Advantage:
If the Balance is above 3%  then 1.5% Risk Per Trade.
If the Balance is above 5%  then 2% Risk Per Trade. 

What are my Entry Setups:
Banana Signals within the following context

1. Signal after A Clean Fresh Breakout of Tight Trading Range (No clear trend already in place)
2. Banana Signal After a Breakout of Consolidation on a 2nd or 3rd Day of trend. (Clear Trend previous day)

The FO Open Line Filter: 
As long as there is a valid signal
BUY Only when the Entry Level for the Banana or Seed Signal is above the Frankfurt Open Price and
SELL Only when the Entry Level for the Banana or Seed Signal is below the Frankfurt Open Price

 

It would would be better that you give all your attention to the challenge account and put the personal account on hold. and give that a NEW nice journal like this one. DONT hide it, make yourself accountable and take and record and journal EVERY single trade. Don't be scared, don't be ashamed, be brave and bring it on... YOU CAN DO IT 
 

[immy]

Managed to take these trades on swissy last week.


 

If these trades were good enough for you, then you should have taken them on the challenge account, if they are not good enough for challenge account then you should not take them at all...

GET RID OF THIS DOUBLE MINDEDNESS ... eliminate duplicity. A setup is a either a setup worth taking or not. 
 

Bring clarity, be focused, and remain objective. 200K vs. 10K personal account? there is no comparison. don't waste life... we don't have much time... GO FOR IT 

ps: you are taking trades on personal account because you want to FEED THE ADDICTION. YOU MUST STOP THAT

[immy]

Managed to take these trades on swissy last week.

 

You would have passed the challenge had you taken these 3 trades...