My Journal as a Professional Trader

I’m also experiencing the benefits of having traded my multiple accounts and smaller accounts.

It was like a training method for me switching trading between big and small accounts. Helped me establish my risk comfort zone.

So this time, when I created the DD, I was able to recover without switching to another account first to protect my mindset. Rather I was able to maintain my mindset trading with the DD.

but I also rediscovered my love for NAS100

Nice smooth impulsive moves…

Doing well Benaiah, maybe 60 trades in 1 day isnt picking out the A1 trades enough ? just a thought ..... cheers SP

Thanks!

Today I had 140 trades, lol

If my win rate is above 20% I’m typically doing ok…

I know I need to avoid trading the open or during high impact news releases. That will help me reduce the number of losses/trades

Todays results

above 20% win rate so that is okay

improved from 5 to +6R average on winners

also improved average losing trade .03%

and worst trade was .1% loss

all in all, a good Monday net 1% gain.

Up 1.5% on the day.

If I can hit 15-20% gains this month, I may let this account rest until 2023 and withdraw profits

So I’m getting comfortable trading an account larger than what I’ve been accustomed to, due to keeping risk really low.

I could reasonably increase my risk per trade x2 or x3, at least. Currently my average risk is $58 per trade, but that number is inflated due to some mistakes I made during high volatility times. For example today I’ve taken 54 trades and my average risk is $35. And that is higher than normal actually.

If I double my lot size, I could potentially double my average daily gains. Once I improve my trade entry selection so as not to need so many tries for a good entry, I will increase my lot size. Today was a step in the right direction, starting the day with a 100 trade per day average, and only taking 54 trades today, AND better results than most other days…

Dove back in the market and threw a trading tantrum. Worked out, but I need to make some adjustments.

First off. I wonder what instrument I should be trading?

Maybe pick one of them ? Most of time GER, NAS and US move in same direction.

it won’t matter if I keep trading when my mind isn’t right lol

Yes they move similarly

Another thing is that GER30 is good for London sessions, so I only trade that if I’m awake and trading….

But looks like I’ve gained some comfort with both at this point

But NAS100 I am done with. Way too much slippage…

Well, after some consideration, decided I will not trade much more until I withdraw, since for the first payout, I have to wait 30 days and trade minimum 10 days.

I may start another eval next week with fundednext. I like how they pay you for the evals if you pass them.

I’m considering the 200k account with FundedNext

I would only need 5% per month across both accounts to live comfortably.

and between the 2 accounts I could scale up to 800k within a year.

Am I ready to trade an even bigger account? Let’s see…

Good reminder…

Well…

sitting at 1.5% gains on the day. Could trade more…

but already 1 1/2 times greater gains this week than last week. And I took 2 days off this week from trading because my mindset wasn’t right for trading.

less is more?

If you are reading this STOP TRADING!

Hello,

Unfortunately that how it usually goes. Making some progress and then in one day all this progress disappear. I don't know your strategy, but looking at the trades history I think that on December 19 you were making some bad decisions. The obvious one I see is that you increased your position size. That's a clear emotional problem. I can see that on December 7 you had a drawdown but you did a great job of keeping lot size the same all the day. On December 19 you began to trade Ger30 with 0.0001, made ~1500 in profits, then increased your position size to 0.0003 and took some loses, but then a great profit trade that puts you in profit once again. I think that it would be a great point to stop trading that day. You made some money, then lost some money, then one good trade and you are again in profit, account up 1500 usd more than 1% in 1 day, great job. But you decided to trade more, there is nothing wrong with it, but you must have some rules to know when you will stop trading. That's due to the fact that emotional pressure increasing. I see few options:
1. You continue to trade with 0.0003, but you stop trading if you take loses and now you are flat on the day.
2. You continue to trade with 0.0003, but you stop trading if you take loses and lost some trades, but you are still in profit for the day. Let's say you were up 1500, now taking 1000 loses. Still made some money, 500 usd. Great job.
3. If you took some trades and now flat on the day the best you can do is to walk away or reduce position size. You began your trading day with trading 0.0001, after losing all your profits you have the same amount in your account balance, so you should trade with 0.0001 again.

Now, when you lost all your profits and account goes to red, emotions start to kick in. You are increasing your position size to 0.0010 and 0.0005. That's a bad thing to do due to the fact that few minutes ago you lost all your profits.

It looks like you are still emotionally triggered. According to your trades list you never took trades at 21:41 PM (don't know what time zone it is) but after that loss on December 19 you are taking trades at this time. You are trading with bigger lot size that average.
You know that this is the worst you can do, but it looks like you can't control yourself. Stop it right now. We all know how this will end if you will continue to trade with this mindset. Take a break. No need to rush things. You can trade profitable, but right now you must take a break.

Interesting

Hi benaiah

It seems like I see you back online, and I hope you will continue to update your journey.

thanks

yeah, I hit a brick wall with my trading. Took a break. Watched a video that completely changed my mindset. I used to take too many trades and not be very selective. Now I am extremely selective and have about a 60-70% average win rate.

But then I recently started a new 300k evaluation with MyForexFunds. Started off with a 5% drawdown. But then I had a conversation with one of my friends who also trades. Something clicked in my mind in the conversation. A very simple adjustment in my trading resulted in a 13 trade win streak. So I passed step one.

currently on step 2 and have about 2040 left to go to hit target. Should be funded again by next week…