Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
well taking the plunge and starting a journal, not sure how long or how often I will add content, but it should be everyday if I'm to get the most from it !
I trade the aussie 200 , so I don't expect too many people to follow what I"m doing , so if/when I speak it will be mainly too myself to correct a few trading demons that I have, and to drum into myself they need to be erased from my trading .
My goals for my trading are : ( I"m sim trading )
Take more entries - this one issue is the bane of my life , I also think I may need a few loses to get over the feeling that its a bad thing, rather than just something that happens to us all, and just get on with it !
Move from sim trading to live trading ( would like that done by nov if poss )
Become physiologically stronger , MUCH stronger. I had a bad trade on monday last week and that kind of ruined me for a few days , and it wasn't so much the money that was lost , but the fact they were many signals in the opposite direction to take, yet I appeared to either ignore or didn't notice or hid from the facts, and that is what rattled me more than how wrong that trade went , and of course the next trade you take is either cut short or stopped out before need be , so that is the issue to be looked at
Quick over view of last months trades
averages for the week ----5 sep /9 sep
no of contacts perday 10.8
ave win/loss per day -$4.72
averages for the week-- 12 sep / 16 sep
no of contacts perday 10
ave win/loss per day $258.80
averages for the week 19 sep /23 sep
no of contacts per day 12
ave win/loss per day $389.10
averages for the week 26 sep /30 sep
no of contacts per day 5.2
ave win/loss per day $6.52
So if nothing else being consistant is also a goal ( take more entries sheez )
I use a method I learnt from an American who now lives in Australia ( Bill Mclaren ) which only uses volume and price bars , I will attach a file of my puter screen to show what I"m looking at when I trade.
Today felt relaxed about the trading , took the trades as they came about , stopped myself out when appropriate, so pleased with that part of the day .
Over all Didn't read the chart all that well.
20 minute chart was creating higher highs and missed the big move of the day, chart was a bit choppy until it settled on its direction.
Once again I felt my internal bias dictated my decision making , need to take a broader view and just read the chart rather than reading into the chart !!!
Well haven't journaled for a few days, and its been an interesting few days (if one can of a think knife fight in a phone box as interesting ) because revealling yourself as an idiot takes time digest. Trading last week was trading scared , I can tell by the avg number of contracts per day showed that not enough trades were taken, and I believe this indicate's what that particular problem was/is , and it still goes on , seems to be an under current that through out my trading career.
Dumb plain mistakes, and I'm not sure I have the space or time to explain these other than too say I have seen but not believed !!!!
One trade last week which a total mess actually went my way ( I found this hard to believe BUT )
I was in a short and decided to take modest profit as first trade of the day , but instead of buying I sold again so it was now 2 short contracts , and it went even further my way , so again I decided not to push my luck , and you wouldn't believe I did the same thing again ( so I"m now 4 on the short side ) and again it went my way , but this I got my sh#t together and got out when I should have .
Lets take today as an example --- opens with 30 point gap up ( 1st rule broken don't trade in opposite direction of the gap ) so I take a short ( which surprisingly goes against me ) so because its away from my enrty point next BEST idea is to wait for another short entry and add to my orginal position ( and boy wasn't that a GOOD idea ) this trade isn't over yet , but will post a file to show just how bad it can get .
I believe that trading like everything else is based on knowledge of what the right thing to do is ---- if we imagine that trading is just like learn to drive a car , it can take awhile to learn how a car works when that is mastered , then its onto how to drive with other drivers ( traders) and when its safe to merge lanes ( take a trade) and when its best to wait for the right time, and as we know there are hundreds of different driving situations to master as there is in trading , so since I can drive I may need to do more and more trading for it too sink in, when things are and when they not safe , when I'm going up a one way street in the wrong direction , when I need to be appling brakes and when to apply the accelerator.
STUART MUST DO MORE TRADING ----- now just do it !!!!!!
End of that trade
Now 2 things stand out to me over this trade ,
1 I got it horribly wrong
2 I saved it in the end
Issues : If I don't get things horribly wrong I don't need to be able to save myself ( again)
need to acutally do the physcial act of trading more , so it becomes a natural process , same when we drive , we don't think about the drive we just get in and do it because we have done it so many times before , I need to trade many times .
Trading was better today from what it was , but as you will see no where near what it should be , but it was a move in the right direction after the last few days it was a welcome relief.
Still trading scared which is evident by the 2nd trade when I made another simple trading error here I followed the trade down with a stop , which was way to close , and then kind of got the stop level wrong but a point , so it came up to my stop ( which I noted was in the wrong place never mind being to close ) took me out and the file will tell the rest of that story .
So over all pleased with today , but oh so much more to do !
Well haven't journaled for a few days, and its been an interesting few days (if one can of a think knife fight in a phone box as interesting ) because revealling yourself as an idiot takes time digest. Trading last week was trading scared , I can tell by the avg number of 