Hello and welcome to my first post ever. I am sorry, I feel like most non-elite trader around, but I couldnt find any restrictions on trading experience for posting a journal.
So this is my web journal. I have a second one, a paper journal, where I write my thoughts before I sleep and where I add trades I make, screenshot and print out. It helps me to get things together.
First let me introduce myself. I am 33 years old, married. I live in eastern europe. I have a fulltime job, I work with databases and print a lot of things for other parts of company. I wake up at 05:30 a.m. every day, I check my mails and charts at 06:00-06:30. I work from 07:00 to 16:00. I am at home usually at 16:30 and I can trade untill 20:20 when market closes (01:20 Chicago time). Well this is how my days go, unless I want to go out after work to drink coffe with my wife or beer with my friends. I earn about $32 each day in my fulltime job and it is above average wage in my region.
When I was 17 years old I began to play Magic, the trading card game - and I still love it. I allways loved to have best cards around. Turned out that some of those card got pretty expensive. Eventually I spent more time buying and selling cards then playing the game. Lately I decided to sell most of my collection and use money for more mature type of invetment. I scrabled together about $3100. Not enough to open account with like Interactive Brokers, but I could open a free account with my bank, altho trading commisions are very high, about $7 one way. I downloaded a Ninjatrader and I am using free demo data. Oh and purchased membership here, so I could download things and read journals. My frist goal is to grow to $10k+ and start trading like serious trader.
So here I am, trading futures and doing rookie mistakes. Whenever I met a new Magic player, it was the same story. He was searching very cheap and easy deck, that could beat everything while having awesome fun. There is no such thing! I allways told them, pick one deck and learn how to play the game. I suppose trading is simmilar, still im going thru a lot of indicators, trying to figure them out. It is like I was trying to pick an musical instrument to learn, I am trying piano, saxophone, trumpet - but the music is terrible, I know that I need to learn how to play it first, but how do I know it is the best instrument for me?
Lets start the journal. Today is 07.02.2017 and I have my usual problem:
When market opened corn errupted up, but momentum kinda slowed down. Big "tanks" lost their momentum (I imagin market as a war front line and big BidAsk volume squares with lines kinda looks like tanks to me) and WWaveVolume was stacked up. Well I think this indicator serves a different purpose, but I somehow noticed that when it gets stacked a lot, market usualy turns. Also, I think most people expected a down trend today, plus there was some huuuge Sell contract barrier in my DOM at 3,68. I somehow figured out that market will go down. I sold 3 contracts and told myself, that I will "let the market do his thing".
But then I did it again. I just couldnt wait. As soon as I saw that I am in profit, I bought 2 contracts and I told myself, that I will let that one contract run. But eventually I boughteven the last contract, all of them at yellow line. Why? I dont know, beacuse I had an headache, because I felt tired, because I didnt belive my logic, because I didnt belive my indicators, because I have no statistical evidence, that my logic will be profitable in the long run.
And because I earned about $75, which is double the money I earned today in my fulltime job. As you can see, market went my way and I could get way more out of it. Purple line is the potential line I had.
Well I need to think about it. I welcome all your posts. Do you think you have advice for me? Tell me. Do you think my logic was wrong? Please tell me as well. Do you also trade similar way as I do (trying to figure out when trend is going to flip), you look at volume and effort/reward, please tell me! Tell …