I started this blog in early July 2013, unfortunately I do not have the first intro but the following is an introduction from a couple of weeks in...
"My goal to date has been to develop a consistently profitable trading strategy. Through backtesting I thought I had found one. The goal was to forward test it in a demo account until I had tripled my capital, the strategy didn't work well in reality. This blog continues to document my progress in becoming a profitable trader. My starting balance was £2820.85".
INITIAL METHOD
I have predominantly traded the EU on this blog and my favoured time frame has been the M5. I have varied the time I day traded from London open, to both London and NY opens and even throughout the entire UK trading session.
I used the 8SMA and 21EMA as my direction. 8 above 21 = long, 8 below 21 = short. I would buy on PB to the 21EMA and sell on RL to the 21EMA. I also developed some rather long winded reversal trades that you can find in the posts if you're so inclined. I used a close above the prior high as as my long entry and a close below the prior low for my short entry. The side of the trigger bar extreme was my Stop. I varied between S&R and Measured Moves for my Targets. My Trailing stop was moved to the low of each new high close if long and the high of each new low close if short.
A problem I ran into with this method was that I was not always taking high probability trades, but thought I was. I assumed (not incorrectly) that trading off PB/RL to the 21EMA (when price had returned to mean) would increase my chances of success. However I did not know that I could in fact cherry pick the very best entries around these areas or that I could use the tick instead of the close for my entry.
NOW AND FUTURE
As I have kept this blog and followed other traders I have learnt immensely. Partly from my own lessons, partly from reading and watching other peoples progress but mostly through the kind acts of other traders effectively taking me under their wing, being patient with me and pointing me in the right direction.
John of Scalppipping.blogspot.com has by far and way been the most informative putting me on to Al Brooks and later introducing me to the works of Sam Seiden that changed entirely I how I think about trading.
I also received coaching for the first time in January 2015 by Paul Wallace, over 5 years into my trading endeavour.
My current plan can be found on the intraday Method tab.
Below is a pic of my old blog layout.
"My goal to date has been to develop a consistently profitable trading strategy. Through backtesting I thought I had found one. The goal was to forward test it in a demo account until I had tripled my capital, the strategy didn't work well in reality. This blog continues to document my progress in becoming a profitable trader. My starting balance was £2820.85".
INITIAL METHOD
I have predominantly traded the EU on this blog and my favoured time frame has been the M5. I have varied the time I day traded from London open, to both London and NY opens and even throughout the entire UK trading session.
I used the 8SMA and 21EMA as my direction. 8 above 21 = long, 8 below 21 = short. I would buy on PB to the 21EMA and sell on RL to the 21EMA. I also developed some rather long winded reversal trades that you can find in the posts if you're so inclined. I used a close above the prior high as as my long entry and a close below the prior low for my short entry. The side of the trigger bar extreme was my Stop. I varied between S&R and Measured Moves for my Targets. My Trailing stop was moved to the low of each new high close if long and the high of each new low close if short.
A problem I ran into with this method was that I was not always taking high probability trades, but thought I was. I assumed (not incorrectly) that trading off PB/RL to the 21EMA (when price had returned to mean) would increase my chances of success. However I did not know that I could in fact cherry pick the very best entries around these areas or that I could use the tick instead of the close for my entry.
NOW AND FUTURE
As I have kept this blog and followed other traders I have learnt immensely. Partly from my own lessons, partly from reading and watching other peoples progress but mostly through the kind acts of other traders effectively taking me under their wing, being patient with me and pointing me in the right direction.
John of Scalppipping.blogspot.com has by far and way been the most informative putting me on to Al Brooks and later introducing me to the works of Sam Seiden that changed entirely I how I think about trading.
I also received coaching for the first time in January 2015 by Paul Wallace, over 5 years into my trading endeavour.
My current plan can be found on the intraday Method tab.
Below is a pic of my old blog layout.
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