Tomi's friendly market journal

[Tomi]

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[Dave]

Good plan!

I totally agree with no-add ons to start with. Get a good handle first. But in my opinion add ons are the key to enduring success. Lose small, hit a home run when it trends! Wishing you all the best with your trading.

Dave

[immy]

Tomi

congratulations on starting your journal and laying out a good simple and clear trading plan. many people do not understand the power of Journal and Trading plan. Serious trading is not possible without either of them. Well Done!

Solid Plan!

cheers \m/

[Topher]

Tomi

Great plan and the sign of success in my opinion.

I have been trading this system all year (although been very busy this month so not been posting on here) and started with a similar plan with defined but easily achievable goals. I still don't add on and can't see my self doing it as I am not comfortable with it. We are all different and must trade what we are comfortable with.

Every Sunday I do the same as you Tomi. I calculate the pip value for my sl from 5 through to 20 and have it sat next to me so I can quickly get in the trade.

Once you get into the swing of things you will easily hit +8% on eur-usd. I initially looked at a lot of pairs on different timeframes and it became a real handful. Now its just eur-usd and gbp-usd M1

Very best of luck.
Richard

[Tomi]

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[Tomi]

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[Tomi]

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[Kyle]

It may be no trades Tomi, but it sets up a very valuable characteristic.

Patience

Patience may be a virtue, but it is a must for a consistently successful trader.

Well done for not jumping into a trade and waiting for the right setup. Continuing this and not violating the trading rules will make you consistently successful (wd)

[Tomi]

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[Topher]

Tomi and Kyle those are two very relevant and great posts.

To gauge the size of the current candles, tp, sl etc I simply use the bid and ask lines. If they look large in comparison to the charts I stay out.

Richard