Journey To Billionaire

Some of my friends advised me to start a journal so I can keep consistent with my trading, so here it is!

In order to achieve consistency in trading, some said a journal is a must. So this journal will be my second home and I'll be recording my trades and thoughts here. I'm not yet a consistent profitable trader so I'll try my best in achieving that position.

I don't mind people know what strategy I use, as my trading style is kind of boring:

the classic old school support and resistance from multiple timeframes, plus some PA around the level to trade. My trigger TF if M1 and M5, but most of them are M5 PA.

I'm an intraday trend follower, never let trade run overnight, trade only the pullbacks and seldom CT trade. I'm also a big fans of SD trading, so you'll also see this kind of TA style in my journal.

I don't trade averaging, as I felt it's too risky when it's done incorrectly. But would love to pyramid the position when it's running in my way (If there is a re-entry setup).

This journal is my path to billionaire, but not in dollar obviously.
15 billion in my country is about the same as a million in the West country.

Okay, That's all for introduction. Starting up a super tiny account and will walk this million miles journey with it.

This is my first step, so wish me luck!

So first, I need to address few of my critical weakness in trading.

I tend to get distracted by tons of things when trading (I trade full time). Because I tend to sit in front of the PC, I do tons of things when waiting for suitable setup. I must fix this part before I can gain back my focus and improving my consistency in trading.

It's hard as it's becoming a habit to get distracted. Forum reading is one of them. Constantly trying to find the more "improved" method of trading, although I personally know that a system is not the whole picture in trading. (Yes, still keep searching like a restless zombie although I know it's wrong!) And I have already got the best and simple trading formula in hand.

For example, I missed this 30+ pips runner just now in EU because was distracted to do the unimportant things first (Have great flaws in my skill in prioritizing tasks).





This must be fix or I will quit trading in the next few months.

My next weakness is the tendency to close a trade too fast. I was coming from a fast in fast out trading style / scalp, so the habit always kick in unconsciously and turning a big fat opportunity to profit more, into a pity tiny trade. It's no joke it feel hurt when seeing a trade goes in the way when I've out from the market.

Part of the cause is mostly the "noob" mentality of fearing of loss. I have defined my risk, but I still afraid of losing it. Silly, I know.

I want to correct this two problems as soon as I could, and hopefully it would help me smooth the equity curve up.

I have a whatsapp group that has such goals too.

We also have a couple of Indonesians. I myself am a Singaporean.

Would you like to join? If so, PM me and I will shoot you the invite link.

Hi MF, nice to meet you! I see, I would love to check out your group. please PM me your invite link.

Sent

The very first trade in this journal is a scalp, and a 'late to the party' one! Dammit, I missed London open because I took a longer than usual nap, and I feel bad about it. LOL. what a smart guy.

It's already near M30's demand area, so I have no confidence it will break through. But often price will rebounce once or twice, and judging from the momentum of USD, it might drag a little bit and available for short scalp.



Exit early because of that demand, and I'm not happy with how I exit. Need to fix this weakness or in the long run I'll never make it. My stop was placed just beyond that M5 doji.

Another scalp:



My surrounding is kind of hectic today, so no more trade for today. I will be challenging 3% return tomorrow. Let's see how it goes.

GOAL for March 28, 2018: 3% profit

Simple trade via R/S flip level:



Missed few good setups, now waiting for next one to appear. I still scalp, as you can see. The weakness that I'm currently fighting in mind. Haven't really put real action to fix it yet.

The solution should be: close part, and let the other part run to train the brain to be at ease with swings.

Currently only monitoring 4 pairs: EURUSD, AUDUSD, GBPUSD and USDJPY. They are my fantastic 4 because they have adequate volume and volatility. Pairs like GBPJPY is too much for me to handle.

I totally respect those who trade with 28 pairs, or perhaps 10 pairs with tons of indicators on their chart. I can't even imagine how their brain work with those sophisticated information. Perhaps they have Intel core i90 installed in their brain.

Okay, back to work. (when typing this, I missed another trade. Gdmit! Journaling will be on the lowest priority from now on.)

Thanks God, Goal for March 28, 2018 completed!











I should be able to reached it before London Open, but because of various distractions, I completed the goal in NY session.

One BE trade because I was unsure my own analysis. but later on I trade it again with decreased lot size (still unsure). But thankfully it's working okay.

Tomorrow I'll try to be more focus, and reaching a bigger goal. I'll be challenging 6% return tomorrow. Let's see how it goes.

GOAL for March 29, 2018: 6% profit

I didn't reach my goal and I'm not really happy with my performance today. Have various kind of distractions around the house, and couldn't really focus on trading all day long.

The first trade is a loss:



I can say "I should have move my SL to BE" or something like that. But nope, I won't. I admit I was wrong because was too fixated with daily open level and thought price will flip from there like a ball hitting a wall. But the fact said it's just a little reaction and it failed to reverse price.

2nd trade:



Entry is incorrect and I exited a little bit too early.

3rd trade was a breakout trade.



price breakout from important area that has been holding price down, I exit prematurely before arriving at the upper S/R flip area, then missed the short trade because of distraction.

So total of 2.1% only for today. well, it's better than nothing.



Tomorrow is a holiday, I doubt there is enough movement to profit from. but I will still challenge 6% return for tomorrow.

GOAL for March 30, 2018: 6% profit

It's all patterns and probabilities. The indicators just condense information that you're looking for. If you know what to look for and what information the indicators provide then quickly scanning and interpreting them doesn't take much work. Figuring out how to use them usefully is the part that takes a while.

Thanks for your info, Redeflect! I traded with indicators (TMA and EMAs) in the past, but the result is not as good as when I'm using naked chart with just few boxes and horizontal lines. I think it's the matter of finding which style is suitable for our personalities.

Okay, so I missed my target again yesterday. Partly was because I'm in holiday mood as well. haha

I only played around on GU (the spread was pretty high yesterday) on just one position. But I felt the momentum dried up, and I was late & trading at the wrong area too, so I exit when price come back to my entry level with 0.1% return. LOL



This week since March 27, I took 10 trades only. 2 breakevens, 1 loss, and 7 wins. Total of 6.7% profit for this week, should be able to gain more if there is no holiday. But the result is pretty good for me. I hope next week will have better return. I'll keep challenging my limit (daily goal), and once it's reached, I'll double up the limit and try to challenge it again.

I've seen few people got hundred of % per day, so the sky is the limit for me. Although I won't purposely try to get hundred % per day, but if I can just reach half of that goal, I'm already a happy guy.

I think this will be fun and profitable if done properly and not forcefully.

Anyway, Here is the record for this week:



It's still too early to tell, I need another 90 trades to have a better idea about what I'm doing is good for long term.

This week I haven't properly trade according to my own plan, got a lot of distractions disturbing my focus, missed tons of valid setups, and a holiday mood that also kill my momentum. Hopefully next week will have less distractions so I can reach daily goal properly.

Okay, that's it. Happy Weekend Holidays!