The time has come and I have created a Journal for my trading.
First a bit about myself. I am 24 (male) from Australia sorry I am not a sexy female trader from Australia who trades in a bikini Anyway I have only been studying forex for about 8 or 9 months but may as well just say its been a year. I came across the J16 ways probably 3 or 4 months ago, and prior to that did the whole indicator thing but I guess its almost a necessity to go down that path as I think you learn what everything is about and then decide to ditch it later. (which I did )
I love price action and clean charts and I love the j16 way of trading. I wouldnt have it any other way. I did open up a live forex account a while back and traded a small account. I lost $50 and felt terrible due to the way my emotions just got totally out of hand. It was incredible the amount of stupid irrational things I did as soon as I had a losing trade, like drop down to 5 min timeframe and trade any old way to try make my loss back ( clearly I lost more ) You all know what I am talking about and it SUCKS!! Worse thing in my life to experience. Never felt so out of control! I learnt a lot going through that. Its nothing compared to what Jim lost and many others but hey I felt it still in my own way! even lost sleep over it. dam!
I was a noob back then, I still am. I however am thankful I had enough brains to leave live trading before I lost it all and spend more time on education and finding James16 to better myself as a trader!.
The reason I am starting this journal is I am sick of screwing around on demo. I have restarted my demo account that many times due to several reasons.
A few of them being taking trades that DONT agree with J16's minimum requirements. Such as taking touch trades, going to lower time frames and all that and sometimes getting burnt. I wouldn't have the balls to do them on live yet so why should I do them on Demo.
I just want to put together month after month of following the daily and weekly chart and sticking to a set of rules and not taking trades I wouldn't take if i was trading live! I want to have up to date data of what I would be like if I was trading live. It is totally inaccurate what I have been doing lately and it really annoys and frustrates the hell out of me. I guess these last few months have been me trying to put that into practice but still drifting away into other methods vs sticking with one sole method. How are you ever suppose to own anything if you are always drifting away to another method. Its just counter productive in my view.
I am one of those people though who easily drifts methods when I see someone post up the way they trade, like some of the more experienced members on j16. I get sidetracked on what they are doing as it seems so easy looking at their charts, when I should only focus on what I am trying to achieve! I guess I want it all now and I don't want to wait. I want to be great NOW, I want to take all these crazy touch trades the guys take in j16 but it doesn't work that way so I am working towards the BIG end picture. One step at a time.
If it is good enough for Jim it is MORE than good enough for me!
I currently find myself every wkend reading through jims posts to try and regain direction after I just confuse myself and lose concentration of what I am doing during the week lol! I shouldn't have to do that as I am focused and find inspiration through jims posts every time I read them! Hopefully after the weeks go by I should be able to just stick to a game plan and just do it.
I need to have a simple trading plan. Like really simple. I am the kind of person who analyzes everything 1 billion times over and changes his mind every 2 seconds. It kinda annoys me! My plan going forward is this
"Play only pin bars and outside bars on daily, weekly timeframe at obvious swing high and swing lows. "
Nothing complicated, just wait for them!
My goal is to demo this for a few months. Keep working my part time job to save money and maybe in a year or so fund my live account with a decent capital base for a 24 year old!
Thanks for reading I will be updating this all the time with charts!
oh yeh and I know there are a million journals on here but I just created this for myself but am more than happy if you want to follow
First a bit about myself. I am 24 (male) from Australia sorry I am not a sexy female trader from Australia who trades in a bikini Anyway I have only been studying forex for about 8 or 9 months but may as well just say its been a year. I came across the J16 ways probably 3 or 4 months ago, and prior to that did the whole indicator thing but I guess its almost a necessity to go down that path as I think you learn what everything is about and then decide to ditch it later. (which I did )
I love price action and clean charts and I love the j16 way of trading. I wouldnt have it any other way. I did open up a live forex account a while back and traded a small account. I lost $50 and felt terrible due to the way my emotions just got totally out of hand. It was incredible the amount of stupid irrational things I did as soon as I had a losing trade, like drop down to 5 min timeframe and trade any old way to try make my loss back ( clearly I lost more ) You all know what I am talking about and it SUCKS!! Worse thing in my life to experience. Never felt so out of control! I learnt a lot going through that. Its nothing compared to what Jim lost and many others but hey I felt it still in my own way! even lost sleep over it. dam!
I was a noob back then, I still am. I however am thankful I had enough brains to leave live trading before I lost it all and spend more time on education and finding James16 to better myself as a trader!.
The reason I am starting this journal is I am sick of screwing around on demo. I have restarted my demo account that many times due to several reasons.
A few of them being taking trades that DONT agree with J16's minimum requirements. Such as taking touch trades, going to lower time frames and all that and sometimes getting burnt. I wouldn't have the balls to do them on live yet so why should I do them on Demo.
I just want to put together month after month of following the daily and weekly chart and sticking to a set of rules and not taking trades I wouldn't take if i was trading live! I want to have up to date data of what I would be like if I was trading live. It is totally inaccurate what I have been doing lately and it really annoys and frustrates the hell out of me. I guess these last few months have been me trying to put that into practice but still drifting away into other methods vs sticking with one sole method. How are you ever suppose to own anything if you are always drifting away to another method. Its just counter productive in my view.
I am one of those people though who easily drifts methods when I see someone post up the way they trade, like some of the more experienced members on j16. I get sidetracked on what they are doing as it seems so easy looking at their charts, when I should only focus on what I am trying to achieve! I guess I want it all now and I don't want to wait. I want to be great NOW, I want to take all these crazy touch trades the guys take in j16 but it doesn't work that way so I am working towards the BIG end picture. One step at a time.
If it is good enough for Jim it is MORE than good enough for me!
I currently find myself every wkend reading through jims posts to try and regain direction after I just confuse myself and lose concentration of what I am doing during the week lol! I shouldn't have to do that as I am focused and find inspiration through jims posts every time I read them! Hopefully after the weeks go by I should be able to just stick to a game plan and just do it.
I need to have a simple trading plan. Like really simple. I am the kind of person who analyzes everything 1 billion times over and changes his mind every 2 seconds. It kinda annoys me! My plan going forward is this
"Play only pin bars and outside bars on daily, weekly timeframe at obvious swing high and swing lows. "
Nothing complicated, just wait for them!
My goal is to demo this for a few months. Keep working my part time job to save money and maybe in a year or so fund my live account with a decent capital base for a 24 year old!
Thanks for reading I will be updating this all the time with charts!
oh yeh and I know there are a million journals on here but I just created this for myself but am more than happy if you want to follow