So I've decided to start a trading journal......why? Mainly because I've been stuck in an endless loop for almost a year now which goes a little something like this:
1) I google for trading courses;
2) I find one which promises I'll make a ton a money;
3) I hand out lots of money;
4) I learn the course material;
5) I perform market replay using the teachings of the course;
6) During market replay, I'll have a bad day, or maybe two bad days in a row;
7) I'll decide that the system I paid a lot of money for doesn't work and throw in the towel;
8) Return to step 1).
I need to break this cycle, as it is very expensive, frustrating, and getting me nowhere.
What I have done is taken a little from each course I have done as well as all the great stuff I've found on fio and picked out the bits and pieces that make sense to me and are easy to apply.
At this stage I am only trading CL during the US close, which for me being an Aussie is 3:30 am (ouch). As I get more comfortable in my trading I'll add more markets, with Gold being the likely next cab off the rank.
I plan to do at least 20 days of market replay on CL and assess my performance after these 20 days as well as how comfortable I am feeling before deciding to trade live. After these 20 days I'll also firm up a trading plan, which is just scribbles in a notebook at this stage.
My market replay days are chosen at random and can be any trading day in the last 12 months.
I've already performed 6 days worth of market replay, and the results are reasonably solid! Lots of mistakes made which have cost me hypothetical $$, but these I hope to iron out a little by the end! I've attached my results (hopefully).
I'll talk a little more about my trading style as I go along.