I trade for two hours everyday and then close my positions and go back to the real world.
These two hours are roughly around when London opens, sometimes later.
I will try to document my daily trades everyday in July as simply, frankly and in a manner that I hope might help someone who is just starting.
I do not claim to be a 'guru' - just a small guy trying to support my family doing this strictly on the side. This is not my primary source of income.
My advice to all beginners is a small ditty: Trade small. Watch the charts everyday. Switch of the news & views and don't think about your kittens mews, aromatic boiling stews, how your kids drew, or that wife wants something new, or the unexpected loser that the market just threw - in short FOCUS on the technique and in present as well as hindsight don't think you all-along knew, and do not change your ways if you found that your capital grew.
As you can see, last year's success went to my head:
The report speaks of Early Impatient Entries, Giving Leeway to Discipline "just-this-one-time", getting an air of "I'm-at-the-next-level-now-so-I-can-break-some-rules" - these three things cost me a pretty penny.
So with that behind me, I would like to say that while TST's program would start with feeling like taking a high-school examination, managing my own real money has had much better results. I'll start posting my daily trades and statements from 1st July and we will see how it goes. I have nothing to prove, nothing to hide, nothing to gain, and all that I have (which may or may not be much depending on the taker) I wish to give away.
There is no 'positive thinking' in this journal - it presents my trading as-is, and the more truthful I am, the more it benefits me and everybody around me. When I learnt to trust, I learnt to let go, and that letting go was more important than clinging to beliefs; in my heard-earned trust I can snuggle in faith even when many tiny losers pile up in my face. I never let the losers become large, I like peace and quiet even in the markets.
- In a trend even though you feel the market is bound to retrace, it often doesn't - take all valid setups with strong faith that the trend will continue rather than otherwise.
- IRBs need trailing ("tipping point technique") due to the range bound nature of the market. However usually it is best to let the market do its thing rather than trail aggressively - trail only at important technical levels which if broken invalidate your idea of staying in the trade.
Here are some charts of trades I took ,,, these are the only ones I could salvage. Being disturbed I did not ask some laptop support folks to take a backup of the My Documents and My Pictures folders when I had given it for repair (it was constantly rebooting on starting up saying "Windows has encountered a critical problem and will restart in one minute....") and hence do not have the rest of the trade screenshots:
03 July 2015
06 July 2015
08 July 2015
14 July 2015
These are the only backups I have. Another reason for posting daily updates to my journal. :-)
Hi,
Just out of curiosity, are you running Windows 10. I read there had been a problem recently with a software update that had an error in it and stuck the computer in a re-start loop as it tried to update, failed to update, restarted and repeated (If you're not on Windows 10 ignore what I just wrote).
The following user says Thank You to matthew28 for this post:
Interesting to see this thread come back to life, but sorry to see it not continued, being in profit and all ...
Your charts remind me of Bob Volman's, so I'm a natural reader of the thread. Wishing you well and hoping all's well and that you'll continue some time soon.
The following 2 users say Thank You to Tymbeline for this post:
Hi iq,
1> You Trade in IST 12:30-2:30 pm ?
2> Planning to try this combine, Would like to do some historical testing. Are you aware of any historical data that can be used for back testing ?
