Hi there... Welcome... Come on in!
I hope you wern't hit by the sheer number of other trade blogs out there were you? No? Ah, good!
I'm Cordite (you can call me Cord, everyone does). I trade using the Ichimoku Kinko Hyu system. This, as I'm sure you can guess, started out in Japan and has only very recently made its way across to the Western world. You'll need a brief understanding of this system, which is more than I can give you, so check out -
http://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page
An excellent resource!
If you're compleley new to Forex itself, you're going to need an insight! Check out -
http://www.babypips.com/school/
This should answer most of your questions!
What I can tell you though myself are my money management rules!
I trade any one of 29 different currency pairs. All the majors of course, but also many of the more irratic pairs. This is because the IKH system is designed for swing traders; where the time frames involved should hopefully iron out much of the turbulance often associated with lesser pairs. I also trade any of four timeframes using MT4 - H1/H4/D1 & W1.
My money management rules are adjusted thusly - for H1 charts any indication of a buy allows me to risk 1% or my account, for H4 I can risk 1.5%, for D1 2% and for W1 2.5%.
Don't worry, this will become clear as we go along!
I'll be trading live with you, posting charts and explanations of why I chose to enter/leave the market when I did.
In fact, this blog is really my personal trading journal - so really I'm writing just for me - but hey, it's great you could come along for the ride!
So, it's now 13:52 on the 8th October 2008.
Let's begin!
