I watch a 50 tick, 250 tick, and 5 min chart as my main short, mid, and long term charts.
I'll post daily recap videos here, and other things I feel like sharing.
I live in AL, and I literally don't know another trader. This forum will be great for me to meet you guys, and open up some communication.
I am a consistently successful trader, but I still make mistakes all the time. I let my losers get too big because my pride or "need to be right" gets in the way, I don't let winners run because I'm afraid of not keeping the small profits I currently have, etc, etc. I do some good things though, and typically have a good "feel" for the flow.
I hope having this journal will help me continue to grow and keep improving. I look forward to sharing what I know, helping, and learning from you.
Here is the last trade recap I did (Thursday of last week):
Last edited by indextrader7; April 23rd, 2012 at 01:02 AM.
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Done trading for the day. Really focused on trading short term swings on my lowest timeframe today (50 tick). Took 18 trades in an hour, which is very busy for me. I'm kind of at that point in trading where I have a couple different ways I can trade profitably, and I'm trying to figure out what I enjoy the most, what works best, and what is applicable to different market environments.
Uploading my video recap of all the trades now. Video post to follow.
I like your simple approach, very straightforward. I follow a similar approach on the Nasdaq, the trick is to accept you'll lose many times but there is always almost a moment when the direction is holding a longer period of time and that's where you make money. How do you manage your trailing stop? Manual or auto ? Thanks for sharing, nice start.
I manage all entries and stops manually. Usually take partial profits at a previous swing level (if it gets there), and trail the rest until I don't want to be in the trade anymore (price is showing weakness in some way).
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I'm very analytical, and will continually share stats. I'll probably do a video soon and go over my trading stats sheet. To me, keeping very detailed trade stats is just as important as finding an entry point on the charts. My own brain will lie to me and tell me I'm doing a better job than I am if I don't keep detailed logs and monitor my performance, risk, and susceptibility for making trading errors.
Here's a look at my daily p/l in ticks since I began trading full time in Feb.
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Here's a look at my drawdown chart. The larger my drawdowns, you can be certain, the larger position sizes I'm trading. It's something I'm working on.... that is.... not loading up with too large a position. It's not worth the risk.
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Each point plotted is the average of the last 20 trades taken. It's a rolling 20 trade average, so each trade adds a new plot with the 21st trade dropping out. You guys probably already knew what that was, but I wanted to be clear.