My other job update 1

If you have no desire to read through what I would say is about as exciting as Macro Econ 101, then you should stop reading now.

I decided that the best way for me to improve and refine my forex trading strategy was to write it down. I thought that doing so in a public forum even if no one is reading it would be best as it will be more likely for me to be honest and disciplined in my approach.

Moving forward I am going to break up my time between now and the real go-live date (the May-June-July time that I will be measuring success for the year by) into 2 week goals. Each 2 weeks I will have some outcome that I am hoping to get. I will then hopefully figure out what worked, what didnt, and make refinements.

So now that I am in my first 2 week period I figured that I would come up with a basic strategy, make a few trades against that strategy, and hopefully finish reading my first forex book.

The trading strategy is to break each day into 1 of 3 categories; Major news event, mid news events, minor news events. On Major news events, its just go with the flow. I am looking for a sustained trend in a particular direction. For mid news event days, I will look to stay out of the market and just watch and learn. On minor news days, I am looking for range based trading and markets to respect strength boundaries which I will define as the MACD line and Bollinger bands. I will look to do market + 10pip trailing stops. In this first session, I am just going to be looking at the EUR/USD pair and doing 1-10 mini lot trades.