It's been over 2 yrs since I joined BigMikes forum and started my Wyckoff Speculator Journal. I've spent most of my time in my journal explaining my method and evolving it to fit my personality. I thought it might be fun to start a new journal with a new format moving forward. In the Wyckoff speculator I spent a lot of time explaining my technique from a technical stand point and never really showed my trading. My goal in this journal is to just show my trading while on the "front edge" of the market (hence the name of this journal). One of my mentors David Weis has used this terminology to describe making a decision with absolutely no knowledge of what's going to happen. I see a lot of educators look at a chart and mark everywhere they would have made a trade. I believe everyone when learning how to trade falls prey to this. Constantly looking in hindsight. This can be a treacherous and fruitless endeavor. I think my education with David as well as Gary Dayton was so beneficial to me because when teaching they have you interpret what's happening on the chart without you knowing what the outcome will be. That is what I'm interested in doing here. Just showing my commentary during my trade. This gives you a much better perspective than telling you what I saw after the trade is finished. My interest is less on full explanation of my technique, but more on what I believe is the most important part of trading. Execution and development of a feel.
Here are my trades from today.
Two Trades
Trade #1
MAX RISK: $320
PROFIT: $250
REWARD/RISK: .78:1
Trade #2
MAX RISK: $250
PROFIT: $950
REWARD/RISK: 3.8:1
Here are my friday Trades. Sorry about the low audio.
Two Trades
Trade #1
MAX RISK $250
LOSS ($75)
Trade #1
MAX RISK $350
PROFIT $950
REWARD/RISK: 2.7:1