ShadowdanceR's Trading Journal - Putting everything into practice

The goal of this trading journal is to improve myself as a trader and this will be done by fixing my weaknesses. The biggest weakness that I have is I use big risk and I sometimes do revenge trading due to losing streak. I think maybe if I could put my journey into a journal format then I will be able to really improve because this forum is full of people who can support my journey and also give me constructive criticism along the way. Hopefully I can start this coming trading week.

yea you are very right, you put in the hard work %

Whatever the mind can conceive and believe, it can achieve.

@ToBad
Thank for the encouragement. Yes, hard work I will put. Not easy to get rid of a bad habit. I see that many who own trading journal have TE so maybe I will also put mine up.

@FxSayWhat
I agree. The mind is scary. Wow, your TE result is amazing!

I was not able to trade yesterday. I'm still doing this part time in-between my job or after it. Yesterday was a very good day though, it's unfortunate that I couldn't trade. I opened the MT5 mobile and it looks awesome now (the UI). I think they are making it much more attractive so people will switch to it.

I'm still trying to figure out how to put my TE as I've never done that before. But I already linked my trading account to TE though. I read and watched a lot so I'm gonna use a tiny account ($10) to learn how to fix my bad habits as a demo account has no psychological impact on me personally. Hopefully this can cure it so I can finally be able to trade with a bigger account.

Today I saw a good setup and I entered the market. I had 1 loss and 3 wins from the fall of UJ. The account had $10 but because the amount is tiny I prefer to use a cent account instead so I can have more flexibility for lot sizing purposes.



Today I was a ble to control my emotion when I lost that 1st trade. usually I would just try to enter repeatedly after the loss thinking that I am right when in every case, the market is always right. As a result, I got that 3 wins.

I decided to close all the trades because of how the price is moving inside the box. An extended box like that might get me in trouble so I'd rather take what I had rather than risking them.

Oh, I forgot to include the entries. I DID NOT enter from the 1 minute time frame. It's just to show the entries more clearly.



After checking, I think the reason why the forum can't show my TE is because I am using cent account instead of a normal account. Apparently, the reasoning behind that is because it might mislead other people who sees the TE thinking it's really $1,000 while it's really only $10. So I think after my trading balance reach something like $100 I will close the trading account, open a new standard trading account and move the balance to this new account so people can really see how successful I am in fixing my bad habits. It is my believe that if I can overcome my weaknesses, my trading balance will also grow.

One important thing to note, I made a mistake in the lot sizing and that is why the loss and profit is ridiculous. The lot size was supposed to be smaller. That is also another reason I became afraid if the price would U-turn on me. This mistake would never happen again. This is why making a trading journal like this is beneficial.

The account went bust due to excessive risk. On hindsight, I made 2 mistakes one is I shouldn't switch from cent account to standard account with a mere $10. I mentioned this before that using $10 on a standard account really has no flexibility in regards to managing lot size (risk management). Also, I shouldn't really trade XAUUSD in the first place. I wanted to focus only on USDJPY but again, I strayed from my plan.

So, in the future I will stick only to cent account until at least I get to $100 and I will avoid trading XAUUSD.

I already attached this cent account but as per the forum's rule, this FE will not show up anywhere for public so I will just give an update manually.

It's been a while since I last updated the thread.
I haven't been trading that much but at least I'm seeing progress with my trading. I have become more confident in taking my trades. The spread in my broker is a bit higher than the one that I used to but thankfully there is a way to reduce the spread even further.

So the account stands at 437.44%. I don't know how forexfactory's TE really works so I took a screenshot from a different monitoring site and it looks like this

Of course, USC means US cent because this is a cent account.

As I said before, my 1st target is $100 and then we'll see after that but first, I will move the $100 fund to a new account that is not a cent account so I can attach it to a new TE here.