Sold AUD/USD at 0.7839 targeting 0.7576 with stop loss at 0.7929. I will be moving my stop loss once the price breaks below 0.7800. With all negative news releases ahead for AUD it is expected a weaker AUD against USD this week. Thank you.
Monday, May 4, 2015
Saturday, May 2, 2015
Welcome to Forex Million Dollar Challenge
Welcome to Forex Million Dollar Challenge. This blog is my private forex trading journal. The reason behind to create this blog is to record all my forex trades that I take during my trading journey. I am not aiming to get rich over night but it is my dream to become a forex million within the next 3 years.
My trading system is based on few leading technical indicators in line with leading fundamental indicators. I will take A+ trades only. I will always look for quality over quantity. An average compound return of 10% to 20% per month is my target.
My Forex System
My pre trading preparation is as follows.
Before loging to my conputer.
1. Drink Coffee.
2. Meditate/Prayer
3. Practice Gratitude / Be Thankful for my Creator
4. Watch a Trading Video
5. Look at my vision board (Motivational Tool)
6. Watch a motivational Video
7. Win trades mentally (visualization)
After loging to my Computer.
1. Look for upcoming new releases for the day and note leading fundamental indicator if any.
2. Look for solid price levels on the chart
3. Note A+ trading setups forming at solid price levels.
3. Look for possible price action triggers in those levels.
5. Check if those price actions supports my leading tech indicators.
6. Take the trade if it meets all my requirements.
Trade management.
1. Always place stop loss
2. Lock in profit it the trade has more potential to move in my favor.
3. Take profit when trade hits my target.
Wish you all the best.
Farish
My trading system is based on few leading technical indicators in line with leading fundamental indicators. I will take A+ trades only. I will always look for quality over quantity. An average compound return of 10% to 20% per month is my target.
My Forex System
My pre trading preparation is as follows.
Before loging to my conputer.
1. Drink Coffee.
2. Meditate/Prayer
3. Practice Gratitude / Be Thankful for my Creator
4. Watch a Trading Video
5. Look at my vision board (Motivational Tool)
6. Watch a motivational Video
7. Win trades mentally (visualization)
After loging to my Computer.
1. Look for upcoming new releases for the day and note leading fundamental indicator if any.
2. Look for solid price levels on the chart
3. Note A+ trading setups forming at solid price levels.
3. Look for possible price action triggers in those levels.
5. Check if those price actions supports my leading tech indicators.
6. Take the trade if it meets all my requirements.
Trade management.
1. Always place stop loss
2. Lock in profit it the trade has more potential to move in my favor.
3. Take profit when trade hits my target.
Wish you all the best.
Farish
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