*Original Post*
This is a journal to track my progression as a trader.I am currently a freshmen in college and have been trading the market for almost 2 years now. I have come a long way but still have a long way to go.
For January I tried scalping the markets for small gains and it obviously did not work out well for me. I took way to many losses and spent way to much in commission(140$ of 1500$ account).
My ultimate goal is to be able to make at least a small living trading forex by the time I graduate college($48,000+ a year) in 3 years. I have begun with 1500.00.
*End*
=====================================================================================================
This Journal Is For My Own Personal Growth & Development As A Trader.
Philosophy
There is no "holy grail" trading system, there are no magical indicators & there definitely are not any magic numbers for any classic indicators. I firmly believe that the only true way to continually beat the market and gain an edge is to follow the trend. Nothing more, Nothing Less. There are many ways this can be done & no one way is the correct way. Some details on why I think this way can be found here. I also believe in keeping it simple as possible. My goal is to determine the Trend of the Market & to Enter the Market in the direction of this Trend when every time frame says the same thing. One time frame is not better than another. The key is collapse all the time frames into one.
“Profits are made by capitalizing on up or down trends, by following them until they are reversed.” - Robert D. Edwards
“Profits are not limited because whenever a trend, once established, continues in a sustained fashion without giving any evidence of trend reversal.” - Richard Donchian
“The way to make money is to determine the trend and then follow it.” - William D. Gann
Goals
2. Grow Account to $3000.00
Lessons I'm Learning
EHM/Pressing Your Wins
Over Trading
The Importance of Discipline
Extracted Thread
Digesting & Analyzing a Loser
Trade Management
Proof of the Levy Flight Presence
Shadows Affects on Perception
sis.
Attached Image