If you don't make it as a trader you can always become a doctor, with hand writing like thatYeah thats great stuff, I have some ideas and principles I know work in a trading plan. I find a trading plan is a journey in itself. I am still working on mine now. If you ever get tired of writing. Learn how to use evernote, a very powerful program once you take the time to learn how to use it fully. Thanks for sharing....
- #26,842
- Jun 25, 2015 8:54pm Jun 25, 2015 8:54pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
Here are the basics of what I use. Dating, printing and marking up your charts adds to the effectiveness of this spread sheet.
The Keys to the Kingdom are: Entry Reasons, Trade Management Reasons, Exit Reasons and Additional Notes.. These categories tell you the WHY's
If you think about it, this becomes the ultimate question and answer. We can get in anywhere, we can get out anywhere.. but is it the "WHY we got in", "the WHY we got out" and the "WHY we did what we did in the middle" that defines whether we will be profitable or not. It is not about being right.. its about being profitable.. There is a big difference when it come to trading.
Example: Lets say at the end of the week you are profitable. You had some losses. Many would say, that you were wrong on those losers. I would argue by saying, yes I took a loss but this added to the environment of being profitable... I can hear it now.. HUH ??? You are taking the mental aspect of a loss, erasing the need to be right and replacing with being profitable. How? Because you have controlled your loss. You are acting in your own best interest. You simply must control your loss both actionable and mental in order to be profitable. It is a big part of what will make you a profitable trader.
I know this may seem like a lot of mental mumbo jumbo but, IMHO, one must radically change ones thinking in order to be profitable. I was absolute "dog pooh" for so many years before I got my thinking straight. The Trade Log opened my eyes and changed my thinking. Will this happen overnight.?? NOPE !!! It takes a time.. I know?? How much time...??? Months for sure, maybe even years. For me, it was years.. but then, I'm stubborn
The trade Log will allow you will see the patterns of your successes and failures very clearly ! I personally know of no other way that one can see it so clearly. The brightest minds on the planet have always used some sort of visual structure to define what it is they are trying to achieve.. Should we not do the same..?? I know I ain't that friggin smart !
I call this the REWIRE.
just a point of view
TSD
- #26,844
- Jun 26, 2015 6:54am Jun 26, 2015 6:54am
- Joined Sep 2010 | Status: I'm not here... or am I? | 4,000 Posts
Today's zone = Tomorrow's opportunity!
- #26,845
- Jul 2, 2015 11:59am Jul 2, 2015 11:59am
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Without VSA, you're playing checkers while the Smart Money plays chess.
- #26,847
- Jul 2, 2015 1:20pm Jul 2, 2015 1:20pm
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
... I stick to my own little journal and Winston's great thread. I would like a general volume analysis thread that is open to any kind of volume analysis. .
. Keep up the good work.
Without VSA, you're playing checkers while the Smart Money plays chess.
- #26,860
- Jul 7, 2015 3:18pm Jul 7, 2015 3:18pm
- | Joined Jan 2009 | Status: Fading the specs | 1,374 Posts
