The Forex Initiative

I am starting this blog as a forex trading journal to keep track of my trades, strategy, and insight into the forex market. I am relatively new to Forex, and thus hope that this blog will serve not only to make me more disciplined in tracking and managing my trades, but also will serve to educate those who are also new to the market. For those of you who may also be new to Forex, and who would like some background information, you can find that here. My goals for this blog are as follows:

1. Post my trades and profit/loss from those trades at least on a weekly basis. I will post this in both pips and dollar amount. Currently, I am trading on a demo account as I hone my strategy, but I plan to go live within the next few months. Once I do, my posts will track my account size with the real dollar amount. More on this in later posts.

2. Create on the site various resources for Forex traders. I plan to start by discussing my current strategy, which is a breakout strategy, and refine my rules for it as I find what works and complete backtesting. I also hope to review other strategies out there and add them to the site. As I gain experience with different Forex platforms and brokers, I will also add my experience with that here as well.

3. Remain systematic with my methods and honest with my reviews. Forex can be a cutthroat market, and this means that to make money, you must be incredibly diligent with trading and stick to whatever method you choose. Such a market has also created plenty of opportunists, and there are scams out there in the form of brokers and trading systems. Sometimes, it can be hard to sort the good information from the bad. I will strive to maintain this site as objectively as possible, so you know you're getting reliable information.

More posts to come soon. As I said, once we get rolling I'll be shooting for at least a weekly review of trading. For now, the first couple posts are likely going to be some background info with a focus on my current trading strategy. Stay tuned.