TheChalleger's Journal - My Trading Journey

Two days (Thu and Fri) have been spent on demo trading last week (Wk 29). The achievements of this round of demo trading include,

- seriously restarted demo trading activities
- carried out the demo trading with reasonable patience (though unable to trade the whole london session)
- demo trade with realistic expectation

In the coming week (Wk 30), the goal of practise are unchanged, that is to train my professional attitude and operation style. Aiming to continue to deepen the achievements above, I will not focus on the P/L of performance. I will only focus on the operation attitude.

It is not that the judgement of setup unimportant; it is that after the analysis of performance, the current objective should be focused on attitude not setup judgement.

What is your attitude towards loss? What is your attitude towards keeping waiting? What is your attitude towards making mistakes? All these psychological reaction will affect your success in the game.

I, kk007, swear that I will make the best out of this round of trading practise (Wk29-35). I swear that I will not lose my Faith in the Edge, and I will not let anxiety control me. I swear that I will bravely, persistently, determinedly, patiently fulfill the mission. I will insist working hard, until being successful. I will exhibit the best of my life energy through this challenge, and will not let timidness occupies any space in my heart.

#1 Script accidentiantly double click

EU loser -1R


#2 A not so good touch trade - line used today but before London Open

EJ winner +1R


#3 A missed setup - breakout trade

GU I have been watching this one. The trigger lasted for less than 1 second. so missed. 0R

#1 H1/M15 Trendline break

Not perfect setup, but sufficiently good. This one failed, however. -1R
Took ages to close. Maybe try not to trade M15/H1 setup in the future.


#2 Touch trade

A standard entry and is a winner +1R

Didn't take this channel breakout. Waited for 3 hour, no good setup yet.

Failed touch trade -1R

AU Touch Trade winner +1R a zero drawdown trade

End the day with 0R

+1R GU

Today is an important day, because I am going to trade.

No!

Today is not. Today is just a typical day. You have to train yourself to be a professional trader. You have to treat each day and each trade as a routine. No excitement. No expectation. No this or that!!!!

It took me less than 1 year to find an edge. But it took me much much longer years to overcome my anxiety. Took me year(s) to have find the appropriate attitude. Took me year(s) to have realistic expectaton, etc.

It is not easy to earn edge i.e. to train my judgement so that there is an edge in trade.
It is much harder to have all the rest elements towards having a professional manner of trading.

I have just had a winner. No I don't want to trade. I've planned to trade for most of the London session. But now I don't want to. I feel I want to relax. I feel my stomach ache. When I first started years ago, I almost have panic attack, I felt sick. Now, I feel better, but still have reluctance to trade. My mind can elaborate endless reasons for me to stop....

I am really feeling sick today. Won't come back for the rest of today. End the day with +1R

Am sure you can do it. Take only the best trades, and perhaps don't be too obsessive about 1R, 2R et al. Use support & resistance levels for your SL and TP. Keep it up.

Hi Old Friend,

Nice to see you again. Years not seen! lol

kk007

P.S. By the way, have you backtested my method with a sample of reasonable size and came to the conclusion that TP/SL should not be set at 1R, 2R???????

Why do I lose the passion to trading life?

Trading for a living is not just about finding a method with an edge. Getting an edge is less than half of the battle. Managing emotion and expectation, adapting to the life of day trading, training up the required discipline are all the main business of a trading life. Finding an edge is only the beginning; having the operation style and attitude as a professional trader is the final goal.

Why do I lose the passion to trading life? After an soul-searching enquiry, I've found out that I don't want to face the ups and downs during a trading session and the related sense of insecurity. I feel relaxed when I am not trading, and the relaxation I cannot enjoy during a trading session. That is why I subconsciously feel reluctant to trade.

To solve this problem, I have to work hard to "dilute" the feeling of importance of a trading session and the importance of P/L to make trading emtionless. About trading, the best emotion is emotionless, and the best expectation is no expectation.

Let me start trading today! Making myself comfortable with trading and facing the trading screen is the practise objective in the front!

Got a London Open winner, but I regret taken it. It is too fast for the price to touch the highlight level. EU +1R+ (11.5 pip), Zero drawdown. Position lasted for seconds only.

P.S. ok. the short I taken was the confluence of 4 things: Round, Fibo23.8, S/R, Monthly Pivot, which gave max of 30+ pip, but still I regret taken it

For a long period of time, I have been suffered from unrealistic expectation. This was partly due to the poisoning of forum/chatroom. Hearsays, survival biases and randomness caused me to have believed something very unrealistic.

Now, as expectation becomes more realistics, goals become more achievable.

I have sneaked away from trading after getting earning an illegitimate winner yesterday, Wedensday. Previous to that, on Tuesday, I have got a sick leave after taking the first trade. It seems that I have difficulty in staying in front of the trading screen. The sneaking is partly forgiveable, because the idea of trading session does have a health impact to me. It is mainly psychological, and I can overcome all the psychological issues in one go.

My performance in the past five days are follows:

Wk 29.4: (-1R), +1R
Wk 29.5: -1R, +1R
Wk 30.1: -1R, +1R
Wk 30.2: +1R
Wk 30.3: +1R

So, there were 8 trades (3 losers and 5 winners), but the first loser was purely keyboard pressing mistake not anything about judgement. In terms of real entries, there were 7 trades (2 losers and 5 winners). Among the winners, 2 of them were zero drawdown entries. Although the performance sounds good, but the sample is small. More importantly, I violated my rules in the last winner and I marginally violated my rules in another winner. For the losers, the second loser is a legitimate loser and the third loser is a marignally illegitimate entry. Another major problem is I have broken my promise to stay for the most of London session.

Today, I have my goal on staying in front of the screen and trade reasonably for most of the London session.

My goal is not to win great. My goal is not to obey the rules strictly. My goal is not to perform excellently. My goal today is only to stay in front of the screen for the London session.

Even though it sounds a small goal, I am not completely sure I can make it. So, stay humble. Make progress step-by-step.

Sit in front of the screen and be comfortable with the time!

Missed the pattern breakout trade AU

You have wasted your time.
This guy does not listen. He is a kin a guy standing in front of the huge wall and trying to read the text written over the whole of the wall but can see only few letters.
I also wonder if he is emotionally cut for this business.
after so many years of trading he still got newbies' emotions.

+1R

Managed to enter on retracement

Not zero drawdown this time, but already very good!