The reason I want to share my journaling is to first and foremost help myself understand what I am learning and doing in the market, but also to share some of my best insights and resources for other traders at the same stage as me. Also I hope to get some feedback and learn from other traders here!
This is kind of my private journal which I share with whoever finds it valuable. I think it might be essential for all traders to have a journal, and the first step is to start.
I have nothing to claim or prove, so I will try my best to keep all my trading transparent and honest.
About me; why I want to pursue a career which has 90% risk of failing
After working as a web developer/graphic designer I realised it wasn't what I wanted to do the rest of my life. I took a bold and risky decision to leave that career behind, in order to put all my energy and passion into trading. I am currently working at a simple job where I get to put all my spare time into trading instead of tinkering with new frameworks, servers, and design stuff.
I could see that not only would I in the long run get a better return on the time invested, but it would take me closer to realising my dreams and having the lifestyle I am determined to get. I just want to live a simple life and have more opportunities to explore the world and hang out with my family and friends.
So do I have what it takes to succeed? To become the 10%-ish that makes it?
Being well aware of that this shit is hard, I started about a year ago with trading. One year into the process, it's still hard, but I am beginning to see that I am making progress and I'm ready to step it up; to go from beginner to intermediate.
I am not afraid to admit that I have made big failures, from startups to my own business, but as long as I learn from the experiences they will never be failures. I fail all the time, taking wrong trades. But I am failing forwards.
At the moment I believe it will take me at least one year, including 6 months of consistent profits to just take the step to try trading at part time.
But I will never give up, this is what I am determined to do, and I will succeed, eventually... :)
How I trade:
Price action, mostly trends where I trade fib pullbacks. Testing out a scalp and runner strategy. Also breakouts. For me these has proven a good win percentage as long as I stick to my rules and not mess up. Not very good at trading ranges. Learning about level 2 data and volume at the moment. It feels like it might help me get more information out of the market, and aid in my decision making.
The markets I trade is currently Forex (USDCAD, AUDUSD), and ES. Trying to learn and get a feel for how they behave.
Some rules that this trading journal will follow:
I will try my best to keep it as short and concise as I can, reduce fluff and give you and myself valuable information.
Always include losing trades
More to come...
Study and action plan on what I will do to keep failing forward and progress in my trading career
Apply the mastery mindset, which basically means that any skill takes a lifetime to master. There are no sprints and shortcuts.
Always update and follow my study and action plan
Treat this trading career as a serious business, which it is, and not "just a hobby"
More to come...