Live Trading Journal

So I haven't been around in a while... but I have been working towards my goal and I am happy to say that I am now live with a decent sized account. I am not completely full time as I had the opportunity to keep some part time consulting work on and it just seemed like a good idea.

I have started a new journal as I have found that since I have gone live with my big account and I am sort of relying on the income I am making different decisions than what I did do before. I didn't update the old blog as I it never really took off and this has a different focus, as back then I was trading with a 9-5 and now I am semi reliant on my trading income.

I won't be posting signals or anything like that, this is more for me :-)

Anyway I hope you enjoy and please feel free to post any comments or thoughts as I welcome advice from those who have already walked this path.

I need to learn to understand that when I am day trading that means that is all I am doing! I missed an opportunity today because I got up and left my computer whilst I as on the phone. In that time I missed a great opportunity.

This week has not been a bad week so far. I still have the issue where I just can't seem to hold trades for too long... but I feel like my entries are pretty much perfect. I need to work on an exit strategy that is as black and white as my entry strategy... any ideas? The requirements are that I want to take as much out of the trade as possible, but not give anything back :-) Easy enough right!

Results wise I have made just over £800 so far this week trading an account that is now sitting at £16,796. I generally take around £100-200 risk per trade, just to give you an indication of the sort of risk I take on a per trade basis.

The return could have been a little better but I took a losing trading which didn't actually trigger. What happened was I was in my office and was waiting to take a trade... my finger hovering over the mouse... then my son toddled in and I looked up to say hello and accidentally pressed the sell button. By the time I realized what had happened I was maybe 5 pips down and decided to see what happened in the hope I might get lucky! I didn't... so lesson learned.

I have also missed a few winners, from lack of focus and being a little afraid to pull the trigger in some cases as I was second guessing the market and my system... again lesson learned!

Lets hope I stop making these little mistakes as without them I might be up £1500 this week...

Anyway that was my little update... lets see what the market brings us in the coming days...

So there wasn't anything on Friday from my systems perspective. Today however was quite lively.

I took two early losses on the cable and the euro for £150 and £175 respectively. I was quite pleased with myself though as there were a few opportunities after this which didn't really meet all of the rules and in a previous life I may have taken them to try and make up the money, but this time I managed to remain disciplined and stayed away.

Then this afternoon after the ISM there was a lot of movement and I managed to get into a really nice euro position which banked me £850. As usual I exited a little early but at least I am taking the majority of the move.

More to come tomorrow.

USDJPY looks a good potential trade, just need the set up now.

Cable and Euro still need to make a move before I am interested...

I ended up sitting on my hands as the markets just didn't provide the momentum I need...

I ended up taking a small loss yesterday of £200. A little frustrating particularly as I actively decided not to get into a trade as it didn't feel right!!!!! The of course it roared off into profit.

I am not upset about the loss, just my lack of ability to execute!

Today I made a small profit... however I again I managed to screw myself by my inability to execute according to the plan... I got long the Euro at about 14:00.. held it for 30 minutes... decided it wasn't going anywhere and got out for £120 profit... if I had have held to my first profit target I would have made £600!!

Then finally I just came out of a short USDJPY position for £140 profit...

So I would say over the past two days I have cost myself at least £1000 by not executing according to my plan and letting my feelings dictate what to do.

This is definitely something I need to work on...

Make that £1500 I have cost myself in taking profits too early!!!!!!!

Anyone any ideas how I can sort this out!

I am really bad at keeping my journal current.

Haven't traded much of late as I had quite a bit of work come up and didn't have the time to really focus.

We are moving into the summer now so I will be taking a little break anyway and will only take really obvious trades but thought I my as well pop in to say hi... even though I am talking to myself :-)