Going Live

Not so sharp this week!

Started nicely with +$350 till tuesday when I somehow felt greedy and kept trading it went down to $50 and then a disaster trade happened when I forgot to place hard stops when turning off PC, a bad hedge play with too tight SL....it just went down from there.... -$800 at the moment.

80 pip drop and I don't make a dime...wtf come on! can't be so easily distracted! and it's only a demo...

current goal is to make thursday and friday profitable.

I'm done for the week!

-$1.250 this week or -$1.000 without the disaster trade where I forgot to set hard SL.

The only good thing is that monday, tuesday morning and friday were sane days...other days were out of control...but it was a great week with over 100 pip moves and instead of making a kiiling I suck.


It's like I make a few mistakes and then I somehow feel offended... It's paper money and I feel offended lol!

I believe we can improve 50% of our game with demo account.


Best day was today (friday) where I had a winner and a nice hedge play. $530 profit today.

Changes for next week: trade 2 lots instead of 1.

QUICK SUMMARY of the latest strategy

WEEK1 +$100 43 trades

WEEK2 +$666 (hmm..) 36 trades

WEEK3 -$1,251 58 trades


INNER GAME

It's very obvious that it's about the game. I feel almost the same loosing fake money vs real one.
I won't make this thread too personal but solving some issues in real life might have great effect on my trading.

trading 2 lots instead of 1 won't change my game but it will prevent from over trading and it's more appropriate risk wise. I think risk should be quite high in FX or trade equities instead...

with 2 lots I'm happy with anything above $100/day

account size $2,752 now let's roll!

BOOKS

The only interesting book on trading is Mindtraps by Roland Barach. I recommend it!

I don't like Douglas trading in the zone crap..

So far -$50 for the week.

Profit in pips are actually worse because I swiched from 2lot to 5lot trading just yesterday.

I figured with intraday trading and account around $3.000 5 lots is optimal. Less trading makes more money...

Ok next week 5 lot and no changing.

Friday news helped so I made 49% for the week or +$1,338

Current balance $4,090


INNER GAME

It's still about success and not money, while it should be about money...it's about wanting a success which would give me my parents approval. But it is also about the game which is the main motivator for me...to crack the game!

It's also about writing this journal so that others can see....

The self destructive behaviour is still here I can see it outside trading as well!

Other than that it works fine so far and it will work even better if I trade/watch charts even less!


TECHNICAL

On the technical part everything is mostly the same. It's the fifth week of intraday strategy with EJ pair, no indis and 1H+5min charts. I do peak at all other time frames up to daily chart.

5 lot size for now and that I'll increase to 10 lot when the balance goes above $5,000

I go counter "trend" as well as with the "trend".

THE EDGE

I finally got it what the edge is! It's the spread and commission and since I can't convince my broker to give the spread and commission to me I'm never going to have an edge lol

-75% for the week.

Current balance $539,00

The result is extreme because I did try 10 lot and higher size...

Anyway I'm taking a week off to see how that feels.

Also lets get real here. This journal was about me going live and I don't intend to do it again any time soon...

.....so I figured what I need to do. I should keep trading the demo with a much more personal journal (not a public one) so that I can dig deep into my inner game...


BOTTOM LINE

Trading performance is ok but far from making me go live again. More personal journal will help me find inner game blocks that will help with trading performance AND also in life in general which is more important.

Cheers!

Hi Vitez!

Well i have read your journal.

Let me say a few words:
- I recognize myself a lot in your words. I was once like you and (i believe) am not anymore. Some people take longer to realize how this "game" as you call it is played.

- The real problem here is YOU. You need different mindset about the "game". And sometimes that is really hard to change. But with preserverance and inner force, you will make it happen!

Now, i see you focus a lot on pips, and money earned. That should be irrelevant. Like a secundary thing, you know? We win what the market give us, period. Not more, not less. Greed is your worst nightmare! Fight it!!!

I still see a great lack of dicipline from your behalf. If you can improve that , your trading will get a lot better.

And you know what they say: in order to get better we must fail over and over... it is on us to get up on our feet and start over!

Wish you good luck!

Sconcha I appreciate you reading my journal and for your comment but there's a problem....I will not take sh#t from anyone!

Are you a profitable trader on a month to month basis for 5 years at least? Yes? Well I still won't take sh#t from you!

This thread is straight forward - just the net result instead of pages of boring fancy charts!

This "business" as I assume you call it is egoistic, providing nothing to the community that's why I don't respect it! However I like it because it is a game to me. And because it is a game I like demo just as well as real money. It's about the money and greed is the very part of money making money scheme.

It's about net pips or net $ made. Why? Because anyone would use any system fundamental or technical if they knew it would give them 300%/month. Technician would instantly turn into fundamentalist and vice versa.

You say I'm greedy because I risk 20%/trade? Just think for a sec....risking 1% is extremely stupid because most of the time you have your money doing nothing just sitting on your broker's account. With risking so little you would want either many winners or huge moves....seeking either will decrease your profits sooner or later.

Why do you think 500:1 leverage is useful? It's because it makes it possible to win big with very little money. turn 5k into 20k in a few weeks and get out...or lose 5k....loose 100% or make 300% sounds fair? No? Why not?

Mate is it possible that you are the one who is greedy and in lack of discipline? You don't even bother to use a spell check.....

Sorry Mate,

i was only trying to help you and in a way try to motivate you not to give up.

I guess i was wrong, so my bad. Please accept my apologies.

Take care.

He angry a bit. Leave him be, hell get around and pay attention to your kind words. Listening to one who blows 50 trades in one trade is interesting enough. But one can also come throu with this. If one listens

Who said I gave up? I'm having fun trading demo account which is exactly what I said I was going to do....but writing this journal makes no sense any more because it's about "going in" with real money... also I'm not interested anymore in writing a public journal. Cheers!

You sound like a very smart person...maybe I should listen to you...hm..

naaah, just an ordinary pedestrian with a bicycle. youll be fine

Pig butcher...that's very good karma...you'll be fine no doubt...