I have decided to take my next leap after several months of observations. I would like to thank all of you who post journals and advocate them especially Itchy, Tiger, Panda, TTurner, D Toast, Kdog,and especially Big Mike amongst others (can't name evryone) for their posts of wisdom. (especially Itchy for encouraging me to start this journal):shakehands:
In the beggining i will probably seem to be all of over the place so bear with me. At times I will probably not take any trades as i am still working through the hesitation blues. When i first initiated my trading account i made several gut shot trades that made me realize the implications and importance of risk managment. This had a sobering effect on my approach and I was dawned with the psychological aspects of trading.:pcguru:
I have had one winning day thus far and it stung more than my losers as I removed myself from a runner through a simple execution error while dragging a stop to break even. I have had several winning days turned to losses as a result of trying to take more than the market was willing me.:stickyman:
I will be sharing observations even when i am not making trades. I hope that is OK for a journal.
At some point i will try to recant some of my earlier lessons so that some aspiring rookie trader may learn from my mistakes. However for the time being I feel that i should look forward and not dwell on the past.
I have read threads that stress the importance of sticking to a plan without deviating from it. However my knowledge of indicators is limited to MAs, BBs, RSIs, MACDs and price action as interrpretted through candlestick analysis. So therefore I will be looking to those clues in the beggining but may switch it up in the future.:idea:
I am intrigued by order flow analysis (tape reading) and at some point may subscribe to Jigsaw tools. Peter who is transparent, professional, and personable, has a hell of a sales pitch and I have learned quite a bit about order flow from the free resources offered on his website as well as the ones offeres here on BIG Mike's.
I would like to add that my account size is small (3g's) and I realize after reading threads here that some of you think that is too small. When offering crtiques, and advice please don't ladel this point as I am resolute in my desire to take this journey. I am not looking for callouts or holy grails. Just looking to improve and learn. If I blow it out then so be it.:lalala:
I tend to ramble :blah:so I am going to shut it and let this conclude my introduction.