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The benefits of creating a journal in this forum
Started: by Big Mike Views / Replies:24,581 / 74
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The benefits of creating a journal in this forum

  #41 (permalink)
Elite Member
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lol, I thought it was a discussion about how, why and when to journal, not how to trade...

Now I understand that the reason for keeping a journal is to be told that scalping is unsustainable!

But seriously, I do appreciate everybody's comments, even though I may disagree.

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  #42 (permalink)
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Anna K View Post
lol, I thought it was a discussion about how, why and when to journal, not how to trade...

Now I understand that the reason for keeping a journal is to be told that scalping is unsustainable!

Not sure where all your negativity is coming from or why. I was responding to your post #37 and #38.

You have all the answers you need. So stop asking the question about scalping, and instead do your own research. Are you long term profitable with scalping? If yes, then who cares what anyone else says.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #43 (permalink)
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Big Mike View Post
Not sure where all your negativity is coming from or why. I was responding to your post #37 and #38.

You have all the answers you need. So stop asking the question about scalping, and instead do your own research. Are you long term profitable with scalping? If yes, then who cares what anyone else says.

Mike

I wasn't trying to be negative. I was joking in the above post . I may ask u the same question about negativity.

And I wasn't asking about scalping mostly. I was asking about journaling, but I get replies only about scalping.
Let's focus on journaling instead.

I got it by now. Scalping doesn't work.

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  #44 (permalink)
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Big Mike View Post
Not sure where all your negativity is coming from or why....
Mike

You should be able to read that the perceived negativity is hiding her need for understanding. Trading with an objective of 1 point is doable on the ES and certainly not more difficult or easier than trading for a larger profit with a lower win rate. There are pros and cons for both approaches. The person is just trying to find his way, that's it.

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  #45 (permalink)
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trendisyourfriend View Post
You should be able to read that the perceived negativity is hiding her need for understanding.

The person is just trying to find his way, that's it.

I would agree, except for posts like this:


Anna K View Post
I got it by now. Scalping doesn't work.

To me, that just signals that all listening is turned off by this user and they simply aren't ready to consider other ideas.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #46 (permalink)
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@Big Mike This thread is about journaling, not scalping. Let's get back to the topic at hand. That's exactly the reason I got frustrated a bit. I'm trying to stick to the topic, but at this point I just feel that I can't get away from 1 point scalp discussion here.

I've had a lot of discussion about 1 point scalps in my journal already, and I'm fine continuing it there. I do understand your and others point on scalping. You think it's much more difficult to do what I'm trying to do and you sincerely recommend that I try to trade less and hold longer.

And if you've read my thread, you would see that I was trying to hold trades longer and that I'm not dead set one way or the other way yet. I'm still in the process of fining my way.

thanks.

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  #47 (permalink)
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Hi @Anna K,

I come and go here and hardly post much, but I saw that @PandaWarrior was posting again and I enjoy his posts enough to look up his recent posts and see where he was commenting. That's how I found this discussion.

I don't think you've gotten much productive discussion here and I understand your frustration, but realistically you've basically already said everything there is to say about the pros and cons of a public journal. The biggest benefit I can see is that it is a gateway to more social interaction on the forum, but I doubt it has that meaningful an effect on the way people trade, and I'm speaking as someone who used to read many of those threads from start to finish. If you have what it takes to gut this out, you're going to gut this out whether you journal publicly or not.

It seems to me, though, that your frustration is not only with the quality of this discussion on the benefits of a journal in the abstract, but with doubts you are experiencing about the benefit of your particular journal. Am I right in thinking that you don't feel you've gotten productive feedback from the wider community? If so, it's worth remembering - and I don't say this with the intent to comment on you or your trading because I haven't read your thread very closely - that you shouldn't expect a journal on futures.io (formerly BMT) to result in you getting the help you need to trade profitably. The lion's share of the work resides with you, or the inner circle of people you can trust. Many of the profitable traders on this board have trading partners outside it. You would probably do better to tell your smartest and most courageous friend that you are attempting to trade.

And for whatever it's worth, my own trading is more in line with the standard futures.io (formerly BMT) advice. In the last two weeks I've taken 11 day trades. I've taken four full stops, two winners of 3 times my risk, and the rest of the trades are small winners and losers, for a total of about 3.5R. It doesn't seem sexy, but it works. Once you get over the hump of exposing yourself to risk it is much more forgiving to trade that way.

Good luck.

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  #48 (permalink)
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@rk142. Thanks for your comments.You are right, I've said everything I needed to say about journaling. And I'm just going to concentrate on mine. I fully realize that only me can solve my issues. You are probably correct in your assumptions as I am indeed frustrated with my journaling and again, only me can figure out how to fix it.

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  #49 (permalink)
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Anna K View Post
...And I'm just going to concentrate on mine. I fully realize that only me can solve my issues ..... and again, only me can figure out how to fix it.

Not just true for trading, true with any issues generally in life as well. The similarities between the two are astonishing. We spend far more time with things that are not in our control. If we spent that much time with things that ARE in our control, we would be way better off.

As in life, trading is a very individual journey. Most successful people have a unique story, mostly dissimilar. Most unsuccessful people have a very similar story.

I think you are on the right path and I wish you good luck.

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  #50 (permalink)
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I agree with @Hulk.

Just one more thought: you might want to take this little contentious detour to stop and decide what exactly you hope to get out of your journal. Many people journal just to share their experiences. Some journal because they hope it will help their discipline. Some journal to show others the techniques they use to trade, or to have a home for their thoughts on trading. And some journal hoping to get some help. (Dark Secret: Everyone journals because on some level they want to be seen and known and admired)

Decide what you want, and frame your journal so that you have a good chance of getting it. If you want to learn to scalp, make that clear and give it a serious effort. If you want criticism of your entries or exits, then ask the users on the forum who you most respect if they would be kind enough to give you feedback. If you work in a smart way you will grow in an organic way into whatever trader you are meant to be. If you work in a silly way you will burn out.

Ok - enough unsolicited advice! I'm motivated now to follow your thread and will be rooting for you.

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