Journal for my Self-improvement

Hello !

Nice break out on your 30mns chart, also regarding the trade management, the next objective was to long to the green zone, did you had a good R:R to take this trade to the green zone with a stoploss under the blue zone ?

Enjoy your trading journey!

Yes, I think i had enough risk reward ratio because the supply zone from the past is from 2514-2574. So I was expecting price to reach there but I had anxiety holding the position after I added some more positions. That's why I closed it so early. That is where I have to improve. My profit taking skills aren't good.

Took short from cellphone. Hope it works

will add another position at 2550

This week I am gonna bump to 0.8 lots. I dont care if it is too fast. What is the worst that could happen really? My max loss will be $240 per trade and $480 per day.
As long as I manage risk, rest is all dependent on good entries, luck and consistency. If I breach any risk rules, then I will go back down a step.

With max 0.2 lots the gains are so meaningless to me that I might as well trade demo. I think it is time to scale up to a size where the market tempts me and tests me. This will be a new challenge for my psychology and discipline. Temptation will be bigger due to money factor. Disregard for risk will be punished heavily. Ego will be hurt and money will be lost if I dont control risk. I want to embrace this new challenge and go for it this week.

Not a great start to 0.8 lot. Took an L trying to buy GU. -15 pips

Took this EJ buy. Hope it works out. First time trying different instrument.

Closed this for breakeven. I am gonna try to buy a little bit lower.

After increasing position size your trading most likely will change. Keep to your max daily loss. Be careful and good luck.

Bias is long for me until price closes below 2408. So bought here

Got out on negligible gain because it is rejecting and doesnt wanna close above the kink. Will monitor the next 30 min close to go long or short.
For short price has to close below 2408. For long i wanna see price close above 2438

EJ short at supply 2TB. lets see if it works

Added position and moved stops. Risk is less than when i started. 146.95 is a trouble area ahead.

Closed this shit. At this unGodly hour this mf aint moving that's for sure.

Sold this zone Idk if it will work.

Trapped. I knew that green zone was a trouble area yet i didnt take partial profit there. I thought price would break it. And then to make matter worse I added position knowing that price didnt close below 2409. off course the biggest blunder i refused to take breakeven or small loss. Now i am waiting for retracement to 2440 to get out.
My process isn't refined and my discipline isnt top top quality yet so I have to refine it first in small lots again. I have to go back down. Plus i broke the risk management rules. l let the loss compound to more than 240$.
This was market's way of telling me that I am not ready yet to trade bigger lots.

That's a huge mistake. You should never be in a position like this. There could be no retracement at all.

The hard truth is that you will never be ready, it will always be hard. The point of trading demo or with a small lot size is to prove to yourself that you can actually consistently trade profitably. You should have no doubt about it. And you must know why you are profitable. You have to be able to differ good trades from bad trades. If you are trading every day, then during the month you will have more than 20 trades, that's enough to draw conclusions about your performance. Is your last month profitable? Do you really know what you are doing? When you add to a losing position, is that a strategy? How many trades do you have when you're just thinking, 'Okay, I'm trading with a 0.05 lot size, I will enter a trade with a 10 pips sl, I don't care about this 5 usd risk'? You are down 5 pips, you think, 'Ok, I'll add another 0.05 lots, now my risk is around 8 usd' Sometimes trades like this work and make huge profits, but the problem is that when you increase your position size, you have no more trades like this because your risk is now not 5 but 50 usd. Will you add another 0.5 lots to have an 80 usd risk? That's a huge question. That's why you must know what you are trading and why. Every time you increase position size you will have this huge money impact. That's why you must have that profitable background, so you can compare what you were doing when you were profitable with what you are doing now. You are trading for 2 days with a larger lot size and have already decided to size down. Look at your trading in March, you had 5 losing days in a row. But now you have 1 red day and you decide to size down. In March, you had that 1 huge green day, all the trades good that day, or did you just add to a losing trade and the market went in your favor?
In short.
1. It will always be hard to increase position size.
2. You must be profitable for at least 1 month of trading, and you MUST know why you are profitable and that you are trading only trades you understand. Look at your March trades, you are profitable, do you know why? All the trades were good?
3. You must NOT have trades about which you don't care. These trades ruin the stats.
4. You should be able to recognize and fix your errors. You had some mistakes today 'added position knowing that price didnt close below 2409. off course the biggest blunder i refused to take breakeven or small loss.'. You must fix it, remember what you should do next time. If you will do the same mistake next week or next month, that means that you are still doing that mistake, you are not evolving and you can be in this loop forever.

Thank you so much. I am grateful for your advice.

I was tired of stressing myself so I took 100$ loss for this trade. I think max drawdown was 170$. I got lucky market retraced today. I hope I will never repeat this- not able to accept small loss. I think it was the main reason why I was profitable last month.
After listening to great advice, I am gonna stay in this same lot size for at least this month. I am gonna fix my mistake and see how well I manaage risk and if I can turn this around and make this a good month.

One last buy for today. Market is whipsawing back and forth. Idk if it will work.