Price went up and almost hit the SL to my hypothetical trade but didnt. Price also never closed above my drawn resistance. In fact, that resistance held until it felt eerie. By the way no one has asked how i come up with my S&R Levels!! As i type price is at 1.40224 and going down.
My 30 pips Daily and my 45% Weekly Journal
I just have to say, this journal is one of the best things that has ever happened to me in my trading career. Now i am able to go back and look at all my trades in the past. Today i was looking at last thursday's trade and I am impressed.
A journal allows you to record all your trades for future analysis. In the future, probably during the weekend, you will sit down and go through your trades. See what you did right in your winners, and what you did wrong in your losers.
It doesn't mean that all losers are due to poor decision making, sometimes you do all the right things and end up with a loss as evidenced by two of my previous losses as well as the hypothetical trade.
The journal also allows you to follow the rules. Before taking a trade, you always ask yourself, if this trade becomes a loser and I have to tell my journal later, when asked whether I followed all the rules, will I answer yes?
If your answer to that question is a firm yes, then you get into the trade without hesitation.
A journal is not about bragging or showing off, its about recording your trades, writing whats ojn your mind at the time and putting some memory to your trading. I cant even remember my trades or their resonings from three months ago, and neither can you. But with a journal. its so easy to know where you are coming from, to see yourself as you transform into a professional and to keep documented all the lessons you've learnt as well as the advice, criticism and inspiration you've received along the way.
Its a way of meeting like minds and not so like minds. Don't they say that keep your friends closer and your enemies closer? Well, in the forum, its probably the poeple you think are against you that you'll find the best criticism.
I hope I can inspire anyone who reads this to start their own journal. Write up your thoughts, record your trades, get input from traders and have a diary so to speak. i would like to get to the trading journal section and find all my friends have one. We could see each others progress and motivate each other.
I just hope you guys rate this thread, vouch for me or do what it takes to allow me to able to post in your journals. Right now, i can only post in one sub-sub section in the forum; under-evaluation.
I think it would be nice to have a clique of like minded traders helping each other grow by the use of individual journals. Just my take!!!!!!!!
A journal allows you to record all your trades for future analysis. In the future, probably during the weekend, you will sit down and go through your trades. See what you did right in your winners, and what you did wrong in your losers.
It doesn't mean that all losers are due to poor decision making, sometimes you do all the right things and end up with a loss as evidenced by two of my previous losses as well as the hypothetical trade.
The journal also allows you to follow the rules. Before taking a trade, you always ask yourself, if this trade becomes a loser and I have to tell my journal later, when asked whether I followed all the rules, will I answer yes?
If your answer to that question is a firm yes, then you get into the trade without hesitation.
A journal is not about bragging or showing off, its about recording your trades, writing whats ojn your mind at the time and putting some memory to your trading. I cant even remember my trades or their resonings from three months ago, and neither can you. But with a journal. its so easy to know where you are coming from, to see yourself as you transform into a professional and to keep documented all the lessons you've learnt as well as the advice, criticism and inspiration you've received along the way.
Its a way of meeting like minds and not so like minds. Don't they say that keep your friends closer and your enemies closer? Well, in the forum, its probably the poeple you think are against you that you'll find the best criticism.
I hope I can inspire anyone who reads this to start their own journal. Write up your thoughts, record your trades, get input from traders and have a diary so to speak. i would like to get to the trading journal section and find all my friends have one. We could see each others progress and motivate each other.
I just hope you guys rate this thread, vouch for me or do what it takes to allow me to able to post in your journals. Right now, i can only post in one sub-sub section in the forum; under-evaluation.
I think it would be nice to have a clique of like minded traders helping each other grow by the use of individual journals. Just my take!!!!!!!!
This guy just got it all wrong! Don't get me wrong though, i understand where he's coming from. First, aiming is very different from achieving. Id like to see someone who achieves such a feat. And I don't even thin my broker would allow a volume of 100,000 lots per trade. Anyway, I also never said my a/c was 500, I was asking, "what if "
I took no offence at being called a young grasshopper, although for clarification purposes, i have hopped enough and Im now stuck on a working system. Thanx for this input though. Had me thinking!
I smell new trader.
I have also had my fair share of blown accounts. So, i've been around a while although not long enough to know everything. How long have you been trading live?