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  1. #1 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Default Black Mamba's - Trading journal

    MY PASSION WITH HARMONICS, DIVERGENCE AND CANDLESTICKS

    So this is my first Trading journal on this forum, Basically my trades revolve around Fibonacci ratios and for confirmation I use Divergence and Candlestick patterns, The bottom line on which I have always emphasized is that you must have a trade plan, and a trade plan means that you must define your entry, your exit and your stops before even you enter the trade

    I always think that if your risk is well managed it is very easy for you to trade, I have seen lots of people saying that they have used indicators and their systems are good but still they are not making money, that is because they are not managing their risk I have learned it the hard way the key to success is managing your risk, if you simply follow the rules of money management that puts you in the top 10% of the successful people.

    I do not risk a very large amount of the capital in my trading and I keep it to 1% of my maximum capital, I never risk more than 1% of my capital at any given time even if 1 have two trades it will be at 1% there is a famous proverb.

    " LIVE TO FIGHT ANOTHER DAY "

    Yes you have to live to fight another day and that can only happen if you manage your risk and make small losses as a trader, So it is our responsibility to preserve our capital so always keep a sharp eye on your capital because

    " NO CAPITAL MEANS NO TRADE "

    The second thing which is core to my strategy is "RISK TO REWARD RATIO" I always prefer 1:3 ratio, in simple 1:3 means that one losing trade will take care of three losing trades whereas most of the traders do it the other way around
    When you get some experience in the market you know that 1:3 can be turn into 1:6 and 1:10 , so bottom line is if you dont manage your risk you will lose your account eventually.

    RULES:

    1) Never risk more than 1
    2) Time Frame 4 hour, Daily and Weekly
    3) I will not trade on the news as it has high volatility
    4) I will stick to harmonic patters and for confirmation I will use divergence and
    Candlestick patterns
    5) I always tends to set my stops loss into break even as soon as my trades are in
    reasonable profits

    So let's begin the journey


  2. #2 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Wow. It is nice thread and I just came here to visit your thread. I hope that you can always update this thread and make it beneficial to us. We hope that we can learn the way you trade and make profits. By the way buddy, can your share your money management?. It is good to read your trading rules and I hope that you gonna be discipline in following your trading rules. Best of luck!.


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  4. #3 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Quote Originally Posted by Black Mamba     
    MY PASSION WITH HARMONICS, DIVERGENCE AND CANDLESTICKS

    So this is my first Trading journal on this forum, Basically my trades revolve around Fibonacci ratios and for confirmation I use Divergence and Candlestick patterns, The bottom line on which I have always emphasized is that you must have a trade plan, and a trade plan means that you must define your entry, your exit and your stops before even you enter the trade

    I always think that if your risk is well managed it is very easy for you to trade, I have seen lots of people saying that they have used indicators and their systems are good but still they are not making money, that is because they are not managing their risk I have learned it the hard way the key to success is managing your risk, if you simply follow the rules of money management that puts you in the top 10% of the successful people.

    I do not risk a very large amount of the capital in my trading and I keep it to 1% of my maximum capital, I never risk more than 1% of my capital at any given time even if 1 have two trades it will be at 1% there is a famous proverb.

    " LIVE TO FIGHT ANOTHER DAY "

    Yes you have to live to fight another day and that can only happen if you manage your risk and make small losses as a trader, So it is our responsibility to preserve our capital so always keep a sharp eye on your capital because

    " NO CAPITAL MEANS NO TRADE "

    The second thing which is core to my strategy is "RISK TO REWARD RATIO" I always prefer 1:3 ratio, in simple 1:3 means that one losing trade will take care of three losing trades whereas most of the traders do it the other way around
    When you get some experience in the market you know that 1:3 can be turn into 1:6 and 1:10 , so bottom line is if you dont manage your risk you will lose your account eventually.

    RULES:

    1) Never risk more than 1
    2) Time Frame 4 hour, Daily and Weekly
    3) I will not trade on the news as it has high volatility
    4) I will stick to harmonic patters and for confirmation I will use divergence and
    Candlestick patterns
    5) I always tends to set my stops loss into break even as soon as my trades are in
    reasonable profits

    So let's begin the journey
    Nice to have you open your personal trading journal here, these candlestick pattern looks a little broad to me because a lot of people trade them and interpret differently, I will like to learn one or two things from your charts.


  5. 5 users say Thank You to adewale for this useful post.

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  6. #4 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    " LIVE TO FIGHT ANOTHER DAY "

    Yes you have to live to fight another day and that can only happen if you manage your risk and make small losses as a trader, So it is our responsibility to preserve our capital so always keep a sharp eye on your capital because

    Welcome to the Journal Section brother Black Mamba!

    What I love the most is the motto you have up there...Live to fight another day! It means no margin call ever! Lol, I should have practice that motto long time ago, if I did, I will never become a Margin Call Queen...hahaha

    I will borrow your motto bro from now on!

    Enjoy your journal and hope we can learn more from your trading method and analysis.

    Cheers to your success and to our never ending learning with forex market~ together!


    P.S. Please add your Journal to your signature bro, it is one of the requirements of this section. Thank you.
    Last edited by NikitaBelle; 21-09-2017 at 11:22 AM.
    Am still hibernating, will wake up one day, all depends on fate. Hope to see you all-soon! Miss you all friends!


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  8. #5 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Quote Originally Posted by Black Mamba     
    MY PASSION WITH HARMONICS, DIVERGENCE AND CANDLESTICKS
    Wow, Another Trading Journal and Another Trading Style. The Journal Section is just getting hotter and hotter day by day, hahahaha.

    Your trading style looks interesting and I like the way your stressing on money management, risk:reward & more important on being discipline and following your rules.

    Will look for your charts in the coming post, Wish you best for your trading!!


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  10. #6 You can automatically minimize the read posts in your account in the 'Forum Settings'
    It's time to retire!
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    Quote Originally Posted by NikitaBelle     
    Welcome to the Journal Section brother Black Mamba!

    What I love the most is the motto you have up there...Live to fight another day! It means no margin call ever! Lol, I should have practice that motto long time ago, if I did, I will never become a Margin Call Queen...hahaha

    I will borrow your motto bro from now on!

    Enjoy your journal and hope we can learn more from your trading method and analysis.

    Cheers to your success and to our never ending learning with forex market~ together!


    P.S. Please add your Journal to your signature bro, it is one of the requirements of this section. Thank you.
    Thanks a lot this is my first ever online journal though i keep a notebook to see my progress but this will help me a lot as i can discuss my strategies with fellow members, I also think there is always room for improvement and i hope i can learn a great deal from your experience , And i will add this journal to my signature.


    Quote Originally Posted by forexianz     
    Wow. It is nice thread and I just came here to visit your thread. I hope that you can always update this thread and make it beneficial to us. We hope that we can learn the way you trade and make profits. By the way buddy, can your share your money management?. It is good to read your trading rules and I hope that you gonna be discipline in following your trading rules. Best of luck!.
    Thanks a lot for visiting my thread Mate, as to money management i will post them later on, and i am also looking forward to learn a great deal from you.


    Quote Originally Posted by adewale     
    Nice to have you open your personal trading journal here, these candlestick pattern looks a little broad to me because a lot of people trade them and interpret differently, I will like to learn one or two things from your charts.
    Thanks a lot for visiting bro, As to candlesticks i use them for confirmation usually i trade on different types of patterns, and for confirmation i use either candlesticks,

    And let me tell you the combination works really well as there is a great deal of patience involve in this type of trading. Keep visiting my thread i hope that i can learn from you and improve on my mistakes.

    Quote Originally Posted by MartyFish     
    Wow, Another Trading Journal and Another Trading Style. The Journal Section is just getting hotter and hotter day by day, hahahaha.

    Your trading style looks interesting and I like the way your stressing on money management, risk:reward & more important on being discipline and following your rules.

    Will look for your charts in the coming post, Wish you best for your trading!!
    Yes Mate Money management is the key,
    And let me tell you one thing it does not matter what strategy do you use whether it is indicator, Price action or something else as long as you are
    managing your risk you will always be successful.
    when i look back sometimes i feel like i was wasted more time learning different Strategies than managing my risk.
    Last edited by Black Mamba; 21-09-2017 at 02:25 PM.


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  12. #7 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    @Black mamba, that is the key word patient, I remember when I started reading Steve Nilson candlestick book, I was stuck at a point because I just did not know how to put all the pieces together, but since you will explain most of these things here, I will definitely learn one or two things.


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  14. #8 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Quote Originally Posted by Black Mamba     
    MY PASSION WITH HARMONICS, DIVERGENCE AND CANDLESTICKS

    So this is my first Trading journal on this forum, Basically my trades revolve around Fibonacci ratios and for confirmation I use Divergence and Candlestick patterns, The bottom line on which I have always emphasized is that you must have a trade plan, and a trade plan means that you must define your entry, your exit and your stops before even you enter the trade

    I always think that if your risk is well managed it is very easy for you to trade, I have seen lots of people saying that they have used indicators and their systems are good but still they are not making money, that is because they are not managing their risk I have learned it the hard way the key to success is managing your risk, if you simply follow the rules of money management that puts you in the top 10% of the successful people.

    I do not risk a very large amount of the capital in my trading and I keep it to 1% of my maximum capital, I never risk more than 1% of my capital at any given time even if 1 have two trades it will be at 1% there is a famous proverb.

    " LIVE TO FIGHT ANOTHER DAY "

    Yes you have to live to fight another day and that can only happen if you manage your risk and make small losses as a trader, So it is our responsibility to preserve our capital so always keep a sharp eye on your capital because

    " NO CAPITAL MEANS NO TRADE "

    The second thing which is core to my strategy is "RISK TO REWARD RATIO" I always prefer 1:3 ratio, in simple 1:3 means that one losing trade will take care of three losing trades whereas most of the traders do it the other way around
    When you get some experience in the market you know that 1:3 can be turn into 1:6 and 1:10 , so bottom line is if you dont manage your risk you will lose your account eventually.

    RULES:

    1) Never risk more than 1
    2) Time Frame 4 hour, Daily and Weekly
    3) I will not trade on the news as it has high volatility
    4) I will stick to harmonic patters and for confirmation I will use divergence and
    Candlestick patterns
    5) I always tends to set my stops loss into break even as soon as my trades are in
    reasonable profits

    So let's begin the journey
    I so much believe in a trading system or strategy that comes up with a better risk to reward ratio and which for your having a ratio one to three is nothing but a success in full package. The divergence and convergence trading principle is one of the evergreen trading method. I believe you will continue to do well as long you continue to maintain your trading plans and decision. Good luck mate.
    ONEPOINT TRADING JOURNAL
    SEE MY LATEST UPDATE !
    https://forum.mt5.com/showthread.php...1#post15014065


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  16. #9 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Quote Originally Posted by adewale     
    @Black mamba, that is the key word patient, I remember when I started reading Steve Nilson candlestick book, I was stuck at a point because I just did not know how to put all the pieces together, but since you will explain most of these things here, I will definitely learn one or two things.
    Yes Steve is the one who introduced Candlesticks to the west for the first time,
    Though some people think that those method are old now and cannot be applied in the modern market,
    But that is not true because i have applied those methods to the current market and they still work,
    Yes you gonna have to make some changes and adjust them according to your strategy.



    Quote Originally Posted by fembizz     
    I so much believe in a trading system or strategy that comes up with a better risk to reward ratio and which for your having a ratio one to three is nothing but a success in full package. The divergence and convergence trading principle is one of the evergreen trading method. I believe you will continue to do well as long you continue to maintain your trading plans and decision. Good luck mate.
    Yes Divergence is very good but i would only use it for confirming my trades
    I would use Stochastic for divergence with 9 : 5 :5 setting
    Usually when a complete pattern is formed i would wait for the confirmation signals ,
    it might be Divergence, Candlestick or any other method which i will discuss in great detail later on.


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  18. #10 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    1) Never risk more than 1
    2) Time Frame 4 hour, Daily and Weekly
    3) I will not trade on the news as it has high volatility
    4) I will stick to harmonic patters and for confirmation I will use divergence and
    Candlestick patterns
    5) I always tends to set my stops loss into break even as soon as my trades are in
    reasonable profits
    Hi Black Mamba, these are respected rules and good traders are using them every day, but the most interesting part of your trading journal should be Harmonics, I have never tried to learn them and I will monitor from close your thread hopping that you know how to use them and learn more, good luck with your trading. journey.


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