Launching a tradingjournal is simple, keeping it's more difficult, as a result of methodological distractions and fruions as a result of losses and lack of discipline. It's this journals intent to monitor an approach that appears to be the most fundamental in FX:
Price moves, reaches a s/r degree, retraces and moves towards that level in order to break it, or price breaks a degree, retraces to it then bounces from it. This behavior can be loed on every timeframe.
Degrees are plogical amounts, high/low's, trendlines or even moving averages.
I mostly link to trendlines and moving averages.
Another topic I would love to cover as this journal proceeds will be trademanagement. Quite an issue I hope to solve or that I aspire to finde some peace of mind about it since the tradingdays go on.
Capital preservation should be the primary concern. R being the pips risked per trade, I'm going to reduce the sl to -0,5r or set the transaction be after 0,5r was reached. Profit target ought to be realistically determined by chartanalysis, but 1r.
I risk 2 percent of tradingcapital on every trade.
The interval traded is 4h, 1h, occasionally for ancient entries 15min.
Marketrhythm detection (as taught by Philip Nel) will be crucial for this trading, using average price high/lows, candlesticks, 21ema and 8ema and trendlines.
I really don't tag this method a method, because I do not want to squeeze it in into a rigid framework of rules.
Also the the mentioned trademanagement is more like a guideline than a ruleset. I'm hoping to loe a process to safely deal with the transaction to profit driving the trend or profiting from the range.