My goal with this journal is to spend a good deal of time improving my trade management skills to get past the break-even threshold. I believe I'm at the point where I can fine tune exits with my strategy and get to being a profitable trader. I'm open to the fact that it can take 6 months or 6 years.
I hope this journal evolves with my trading career. That means I post all my trades. My biggest weaknesses thus far have been:
- Patience
- Trade Management
- Handling Losses
Sound familiar?
I'd like to post my mission statement to live by every time I look for a setup, place an order, manage a trade, and close a position:
I am a professional trader who treats my trading as a business. I plan each trade before I enter an order. My priority is to protect capital before looking for profit. I believe in my edge and will let it play out over hundreds of trades. Because I believe in my edge, I consistently follow my rules without question.
Hope everyone can benefit as much as I will. I would like to individually thank the following traders whose posts have been a source of endless wisdom: merlin, james16, mbqb11, raczekfx, Darkstar, and Dopey. Although I have never met these guys personally, to me, they represent what is good and positive about the Factory.
-- Danny