Here’s a chart with my markup on a gold trade that I just took (XAUUSD), stop loss @ 1695, no specific profit target set just yet as I’ll be watching the price action.
A few words about me; just so you know exactly who’s blog you’re reading / following, and why the heck I’m bothering posting a blog. My name is Jon Poler, I operate a few different businesses in addition to trading both the Forex and the equities markets. In my humble opinion, trading is, by far, the most manageable and POTENTIALLY the most lucrative business there is. No need for gigantic offices, retail storefronts, employees, salespeople, suppliers, etc, etc, etc. All you need is a solid internet connection, fast computer, and a good charting package. No need to continue to state the obvious.
I trade a few different systems, all of them for the most part are based off of the Daily charts. I have attempted to trade the lower time frames, it just doesn’t work for me. I am primarily a breakout type trend trader. As the blog progresses, I’ll post trades shortly after I take them, along with a description of the system / methodology that I used to take the trade.
By creating this blog, I’m basically looking to get the attention of other traders, & create a dialogue about the trading methods that I’m using. Having a smart exchange should prove helpful to both you as well as me. We’ll end up improving out trading skills / methods / etc, and all make more money trading the Forex and equity markets as a result.
So please post your feedback, ask questions, and put up your own commentary whenever you feel like it.