My journal entries in the past have been spotty to say the least. A few Excel worksheets, a number of word processing documents with screen grabs etc.
Thanks to Big Mike for this site and enough incentive to create an on line peer reviewable journal. I intend to treat the journal as a tool to assist me on a journey to a highly mechanical or at least quantified regimented system for entering and exiting trades.
Broker: Interactive Brokers
Instruments: NQ, ES, to a lesser extent CL, GC and some currency pairs, EURUSD, USDCAD.
Methodology: primarily Price Action, I have also been influenced by my interpretation of market sentiment
Indicators: 20 EMA on five minute chart, on swing trades I will look at 50 EMA and 20 EMA on daily charts as well with the entry triggered on the five minute chart. Volume is also observed but not yet a quantified process in the decision making.
Time Frames: Day trades (5min Chart) and well as Swing trades (looking to close before five or seven days)
Live trades versus simulation. I do trade live and all of these trades will be in the journal. Existing capital will only afford me to hold a few contracts at a time, so my intent is to also include simulated entries that I would have taken if capital restraints had not been in place.
First daily summary coming in later today.
I don't believe in luck, but I do wish everyone well here at BigMikeTrading, and hope to stay focused and disciplined in my own trading.
Cheers, Darryl H
Sample chart that I trade from (I like simple).
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