Greetings,
I've tried to keep track of my trades many a time, and it generally fails. Have decided to get serious about my trading once again (I'm a good for nothing student). Hopefully I'll mange to keep this journal going a bit longer then usual this time.
As I'm not at a computer all day, my trading is rather sporadic, and I've always wanted it to be more regimented, also, everything I do has to give me some enjoyment, my trading is always "fun", so I have embarked on a cunning plan.
Said cunning plan is pretty simple, I'm going to attempt to swing trade on a 5 min chart. That's sort of a white lie, what I'm going to do is spend the vast majority of my time selling peaks and buying troughs on the 5 min chart, half of my position will be taken off at 2:1/3:1/4:1/where I think the first bit of congestion will be (I haven't really decided). This will hopefully pay for losses, rollover charges (spreadbetting) and the like.
The other half? Well she's a bitch. She shall most likely be stopped out, but occasionally, I might hit a trend.
Really what I'm wanting to do is get some massive positions on some massive trends, making my capital (not equity) curve to look a bit like a step functions.
I know this is not the most effective way of trading, I've written a lot of stuff on theory, and my thoughts on adding to positions doesn't really agree with this, but hopefully it will be entertaining, and if it isn't I'll post videos of my drunken antics.
Rules (I'm told I should have some of these)
1. "Look, that's why there's rules, understand? So that you think before you break 'em."-Lu Tze
I will most likely break my rules at some point. Mainly I do not trust myself to come up with a good set of rules so we'll go with these and if they suck then it's OK if I break them.
2. "Don't move it mofo!"
The usual, don't want to be moving my stops, I don't normally...I'm hoping to trail on the daily/weekly. Won't be moving stops to new entry stops.
3. "My 2 cents."
2% risk. I don't normally follow traditionalMM (I might go into this later), thought it'd be fun to give it a go.
4. "The trend is your third uncle twice removed."
Now, normally, the trend is all well and good etc, but if I want to trade against it I will, and I don't care what you say. Of course If I'm trying to trail my positions on the daily/weekly it's probably a good idea to go with it
5. "F*@$ yoda!"
Don't listen to other people's thoughts, man I do this all the time, and I'm sure I'll break this one the most. It's not that the advice isn't good, it's just not mine. Different time frames, different targets, eurgh it just gets silly. Success is a lousy teacher (know this first hand). I mean I'll listen to other's opinions, but once I'm in I'm going to attempt to stick to my targets and my stops.
6. "
6. "Shoot the breeze and catch some zeds"
I cannot function 24/7, believe me, I've tried. It works for a bit and then reality hits you like a sledge hammer. I will probably trade at all hours, just not continuously. If I stay up trading the Asian session until 4 I'm not going to try and get up for London breakouts and stay for the sell off at US close.
No more rules, I'm sure they're more, I just can't think of them atm. I may update if I come up with more.
I will try my very best to post charts, analysis, and lots of stats on how it's going. If I don't harass me about it! I might even post up some of the rubbish which I spout about on my blog.
Starting off with pretty much a minimum (£500), as I'm not sure how this is going to go. Trading on etx, got used to them now although it's not perfect. Will trade currencies mainly most likely, but anything which might trend really, if you want me to have a bash at something just ask.
That's about it, got to get some work done, put the rubbish out, and who knows, maybe get some analysis done before the open.
TTFN.
I've tried to keep track of my trades many a time, and it generally fails. Have decided to get serious about my trading once again (I'm a good for nothing student). Hopefully I'll mange to keep this journal going a bit longer then usual this time.
As I'm not at a computer all day, my trading is rather sporadic, and I've always wanted it to be more regimented, also, everything I do has to give me some enjoyment, my trading is always "fun", so I have embarked on a cunning plan.
Said cunning plan is pretty simple, I'm going to attempt to swing trade on a 5 min chart. That's sort of a white lie, what I'm going to do is spend the vast majority of my time selling peaks and buying troughs on the 5 min chart, half of my position will be taken off at 2:1/3:1/4:1/where I think the first bit of congestion will be (I haven't really decided). This will hopefully pay for losses, rollover charges (spreadbetting) and the like.
The other half? Well she's a bitch. She shall most likely be stopped out, but occasionally, I might hit a trend.
Really what I'm wanting to do is get some massive positions on some massive trends, making my capital (not equity) curve to look a bit like a step functions.
I know this is not the most effective way of trading, I've written a lot of stuff on theory, and my thoughts on adding to positions doesn't really agree with this, but hopefully it will be entertaining, and if it isn't I'll post videos of my drunken antics.
Rules (I'm told I should have some of these)
1. "Look, that's why there's rules, understand? So that you think before you break 'em."-Lu Tze
I will most likely break my rules at some point. Mainly I do not trust myself to come up with a good set of rules so we'll go with these and if they suck then it's OK if I break them.
2. "Don't move it mofo!"
The usual, don't want to be moving my stops, I don't normally...I'm hoping to trail on the daily/weekly. Won't be moving stops to new entry stops.
3. "My 2 cents."
2% risk. I don't normally follow traditionalMM (I might go into this later), thought it'd be fun to give it a go.
4. "The trend is your third uncle twice removed."
Now, normally, the trend is all well and good etc, but if I want to trade against it I will, and I don't care what you say. Of course If I'm trying to trail my positions on the daily/weekly it's probably a good idea to go with it
5. "F*@$ yoda!"
Don't listen to other people's thoughts, man I do this all the time, and I'm sure I'll break this one the most. It's not that the advice isn't good, it's just not mine. Different time frames, different targets, eurgh it just gets silly. Success is a lousy teacher (know this first hand). I mean I'll listen to other's opinions, but once I'm in I'm going to attempt to stick to my targets and my stops.
6. "
6. "Shoot the breeze and catch some zeds"
I cannot function 24/7, believe me, I've tried. It works for a bit and then reality hits you like a sledge hammer. I will probably trade at all hours, just not continuously. If I stay up trading the Asian session until 4 I'm not going to try and get up for London breakouts and stay for the sell off at US close.
No more rules, I'm sure they're more, I just can't think of them atm. I may update if I come up with more.
I will try my very best to post charts, analysis, and lots of stats on how it's going. If I don't harass me about it! I might even post up some of the rubbish which I spout about on my blog.
Starting off with pretty much a minimum (£500), as I'm not sure how this is going to go. Trading on etx, got used to them now although it's not perfect. Will trade currencies mainly most likely, but anything which might trend really, if you want me to have a bash at something just ask.
That's about it, got to get some work done, put the rubbish out, and who knows, maybe get some analysis done before the open.
TTFN.
. Are you going to trade anything and everything? (shares?)
