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I am a young trader who has only been trading for about a year now. I started off day trading but was not a fan of it and around that time I stumbled upon the journal of Michael Moore. While reading his journal I became seriously invested in scalping and became more interested in trading CL (I had previously been trading ES and YM). I am now working on my own scalping strategy for trading NQ based around trading support and resistance zones on a small scall mainly based off of the 5 minute and 100 tick charts. I aspire to one day be a successful trader and be able to make an impact on other people's lives for the good through trading.
Today was my 2nd day doing a combine challenge. I was up $673 for the week but I blew that today because I was rushing my trades. I had planned on finishing this combine's challenge by the end of the week and I had set a goal. However, the fundamental mistake that I made was that I set a money goal. If I can say one thing to young traders, it would be to not set a goal based off income. If you create good trading habits and strive to follow your strategy and make good trades the money will come naturally. If you are trading based off of profit you are doing it wrong. This has been a difficult lesson for me to learn but I hope I can be a lesson to others to not make the same mistakes. I wish everyone who reads my journal the best of luck in their trading.
I agree. I think there are people who instinctively look at it from the perspective of profit maximisation and others who instinctively look at it from the perspective of risk management, and my money's always on the second group for the win.
Good luck with your trading and with your Journal.
