Hello everyone, Im opening this journal in hope that exposing my trading activity to an audience will improve my result and help to keep my psychological issues under control.
Recently I suffered greatly of overtrading and overleveraging. I lost x Euro, made it back during the course of the week only to lose again and more during friday's afternoon. That happened for 2 weeks in a row and I can only blame myself and my lack of calm and confidence for it.
A little bit about my trading style and background
I'm a full time trader and daytrade only DAX cfd contract (GER30 on FXCM), I may trade other instruments if some big unexpected event happens.
My trading analysis and execution is based on tape reading and price action, I'm trying to gauge how strong bulls or bears are and act accordingly.
I take into great consideration macroeconomic events and news to understand what other traders are looking at and what hot moneys are doing/planning to do (big news: big players dont risk their money on price patterns or moving averages).
I also look at price levels where significant limit and stop orders may be placed, mostly weekly/daily highs/lows, round numbers and other notable highs and lows.
These factors regulates both entries and exits.
What I'm planning to do with this journal
I'll report my impression in real time and probably also some trades. At the end of the day Ill post a snapshot of my activity.
Why no Trade Explorer/Myfxbook?
FXCM is not supported or I have to give my login credentials to a third party. I'm also not interested about proving anything to anybody, this is something I'm doing to improve my performance.
Whats the first goal?
Gain back confidence and consistency
LET'S ROLL !!!
Recently I suffered greatly of overtrading and overleveraging. I lost x Euro, made it back during the course of the week only to lose again and more during friday's afternoon. That happened for 2 weeks in a row and I can only blame myself and my lack of calm and confidence for it.
A little bit about my trading style and background
I'm a full time trader and daytrade only DAX cfd contract (GER30 on FXCM), I may trade other instruments if some big unexpected event happens.
My trading analysis and execution is based on tape reading and price action, I'm trying to gauge how strong bulls or bears are and act accordingly.
I take into great consideration macroeconomic events and news to understand what other traders are looking at and what hot moneys are doing/planning to do (big news: big players dont risk their money on price patterns or moving averages).
I also look at price levels where significant limit and stop orders may be placed, mostly weekly/daily highs/lows, round numbers and other notable highs and lows.
These factors regulates both entries and exits.
What I'm planning to do with this journal
I'll report my impression in real time and probably also some trades. At the end of the day Ill post a snapshot of my activity.
Why no Trade Explorer/Myfxbook?
FXCM is not supported or I have to give my login credentials to a third party. I'm also not interested about proving anything to anybody, this is something I'm doing to improve my performance.
Whats the first goal?
Gain back confidence and consistency
LET'S ROLL !!!