Newbie Price Action Trader
I have been demo trading for a few months now, with mostly good results since I found PA. I'm a huge believer that this is the only way to trade! I recently reviewed all my trades, and found that I was right, two-thirds of all trades, and wrong one-third. Out of the one-third of all trades that I was wrong, approximately half were due to pinbars that just didn't work out (unavoidable in my opinion) and the other half were due to my own errors in judgement, where I stepped out of my rule system. Also, I find that I close out winning trades too early (about 90% of the time)...so I am definately going to be working on that issue. Here, I am going to outline my entry criteria, and then I'll try to log in each trade I take and it's result. My goal here is to keep a journal of a 3K demo account, which is the actual amount that i plan to start my first account with. In a couple of months, I go live!