In this new entry I would like to lay out some of my trading methods, what system I use and how I plan and execute my trades. My past experience in the fx market is somewhat lacking, compared to some of the brilliant minds out there, but nevertheless I'll throw in my chips and give it a try. :) In the past year I tested a number of systems, and from the beggining I'd like to point out that if it isn't working, it's not the system it's you. There were systems tested and proved by others, with which I didn't have a great performance. The hardest problem I've come across since I began trading is finding a system suitable for me. Somehow, I always ended up braking the basic rules of the systems I traded, probably because I was to eager to get in the market, or to cocky to let go of a dying trade. Rules are rules. Do them justice and you'll benefit from it.
The system I just started using is none other than the famous Cowabunga system. You can find it here , where Pip Surfer keeps an updated blog with his trades. My biggest problem so far was respecting the rules, so with this journal I hope change that. Feel free to slap me around I you catch me off track. :) Complementary to the system there's one indicator with which I'm aquainted with pretty well, and which I'll be using, mainly to get additional information on the 4H chart: Fibo. The pair which I will be trading, if the blog title dosen't ring any bells, is GBP/USD. This is the pair traded on the Babypips blog and also one of my favourite pairs. For a while now I've traded japanese pairs, but I soon found out they don't fit my trading style.
Check back shortly for my first trade update!
