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Continuing our long tradition of encouraging members to have Trade Journals, we are announcing our newest Journal Challenge, sponsored by Ninja Mobile Trader VPS!
Prizes -- the top five trading journals will receive prizes:
I hope everyone is doing great and having successful trades!
I'm back after a short break. I took a month off after failing to make my second withdrawal. I was riding high, feeling overconfident. Unfortunately, I suffered a few losses after my break, so I went back to trading on a demo account.
I'm starting my journaling routine again. It's been a rocky start, but let's focus on finishing the year stronger this time!
Goal: cut losers faster, focus on seeing higher time frames. stand up and take a break after every trade!
<Reminders>
- be selective, be aware FOMC week.
- hit base hits, cut losers faster.
- only losers add to losers.
- see bigger picture on higher time frame
- control my bias, I love to jump in on green, only to get rugged pulled by the higher time frame trend.
- be more patient
What I learned today:
- still very bullish bias, I took too many knife drop. I didn't zoom out and often enough.
- I didn't take as many breaks as I would of liked. I was very result oriented today and let p/l get to me. I wanted to start off well today, and over traded when I should of just accepted the outcome
- second half was better, I saw the overall bearish trend and caught it
Changes I need to make from today:
- take more breaks
- moved my s/l lower instead of keeping it tight. p/l creeped up on me
- stop taking too many counter trend trades
- look at higher time frame before taking counter trend trades.
- stand up/break drill - after every trade, get away from the screen.
Daily Report Card | 5.1.2024 | A
.
Goal: cut losers faster, focus on seeing higher time frames. stand up and take a break after every trade!
<Reminders>
- be selective, be aware FOMC week.
- hit base hits, cut losers faster.
- only losers add to losers.
- see bigger picture on higher time frame
- don't get affected by losing trades
- be more patient
What I learned today:
- I got laid off today, so that sucks. I was still able to trade fairly well.
- still unable to let go of losing trades. I did move the trailing stop loss a bit back.
- I need to give more time before I place trades after fomc. I kind of jumped the gun
- need to focus more on managing risk and not so much on profits. I scaled my size back by 3 contracts.
- I was expecting a tight range like yesterday, but I wasn't able to exit quickly like I wanted to. I held for another sec and it reversed on me. I would like to just go with it and not second guess.
Changes I need to make from today:
- focus more on risk. Take the L and after a series of L (3 losses) stop
- be more mechanical when trading ranges, be okay with what I can get and move on to the next trade.
- focus on the trade, trade using good habits, don't think about p/l or payout
- focus on the long game, its a collections of trades that matter.
