My Introspective Journal

Reason for my journal:
· To help me clarify my thinking, particularly on set ups and exits
· To help me with my trading discipline to stick to my rules
· To help me be aware the present environment (see the charts as of now)

The format of my journal consists of three items, namely:
· Note Observation (ie view of charts)
· Note Action (trade taken either short or long with associated profit targets.)
· Note Reflection (reflect on mistakes and decide on improvements)

What this journal does not do:
· Report on my returns
· How many pips made or lost
· External view (doesn’t encourage advice from others)
· here to teach others

This journal is:
· Introspective view (purely for myself, looking inward)
· Only trade GBP/JPY

Daily pivots:

R3: 148,88
R2: 148,52
R1: 148,17
CP:147,70
S1: 147,35
S2: 146,88
S3: 146,53

From 4 hourly chart over last five days, as above, it looks bearish with no change of trend direction.

If it drops below S1 (1148,17) in the morning, it could go to S3 (16,53).

If it bounces off S1, it may range for the whole morning, before it makes its mind to go long or short. So we will see tomorrow morning.

Typo above: S1: 147,35 and S3: 146,53

long till S1

Mistake: didn't take order on the retrace, and thus missed 5 pips

reflection: what struggle to get S1 (didn't get there by 5 pips). Should have just taken 10 pips profit and bailed out.

Ranging right now, so maybe just scalp

Overall trend is bearish, but could bounce up to CP and then down again

Reflection: patience, now it is at S1; bailed out too early. At least not losing money, but then again not making it. If each time I put a trade of 10 pip profit, I would easily make my daily target.

Patience! Patience! Wait before jumping in again. Analysis is good but execution is very very poor

Short, target S2

Trade at your risk

Didn't reach CP by 4pips. Hope it doesn't turn around and hit it.

What do I now? take my 10 pip profit or let it run

not comfortable S2 profit target, so changed target to to 147,30

right it bounced back to CP; now what?

I thought using a journal would help me with my analysis and discipline. My analysis is great, but execution is poor. So will this journal a break and work on my execution of trades.

+I have changed my views on the reason for this journal. Previously I was going to be very structured and so called "clear" thinking etc. Tried that approach for one day and it did not work. ie I spend too much time thinking about what I was going to do. Now I am just going to trade without any deep thought or reasons; and try the approach of Mark Douglas: in that just trade as when one thinks an edge comes up.
Short for 20 pips profit. Overall trend is down: so today will always try to take shorts only

Today's pivots:

R3: 155,19
R2: 154,23
R1: 153,26
CP: 152,66
S1: 151,69
S2: 151,09
S3: 150,12