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Hello everyone! i have been mainly just reading and studying in this forum for about 7 months now and have been elite for about 6. I'm now 20 years old and have been interested in trading for a while but only recently began to trade for real if you consider a combine real. I currently trade the ES on a 50k combine using support and resistance with a few EMA's to get 1 to 2 points per trade with support behind resistance with a maximum 1.5 points of risk.
I feel that currently my main problems are psychological, and see why almost every webinar i see says psychology and self control are so important. i have come close to passing the combine multiple times only to find myself trading emotionally as i get closer. When plotting out my support and resistance and looking for entries as planned i end my day satisfied even if i ended the day with a loss, but some times for no reason i will begin risking way to much and gambling an entire weeks profit trying to win back the losses of 1 day. I always feel silly and question my self on these days thinking about how greedy i am in trading.
So i decided to finally make a journal, i've been following many peoples journals my self and even looking back at a lot of old ones, and everyone seems to say it helped them greatly with their own trading. I have a personal note book that i write in every day, but i think posting my thoughts trades online will be more efficient and keep me accountable for my mistakes.
TL;DR im making this journal to help me correct my bad habits
currently up 275 today so far
lost 2 trades in lower low high high lower low chop
took a few 2 point trade bouncing off the ema short and 2 1 point trades long predicting pull backs.
market is currently stalling under the 2130~ support zone as i expected today is actually a good day so far
i expected the reversal but ended up losing 3 trades anyway i think since i saw the reversal coming i should have just sat and waited it out, but my greed gets the best of me haha. currently at 194
i'm beginning to over trade guess ill stop for the day. took a final trade for 1 point profit was shooting for 2 but i saw some stalling and very large block trades on the T&S expecting a pull back. Could have ended the day at 500~ if i just sat on my hands and waited till after the chop and reversal was through, but oh whale i think i did okay other than that
Recap i traded with my plan to be short until 2130 predicting a telegraphed reversal and then catch a few trades long after the chop.
I followed the plan a bit, other than the trading in the reversal haha.
higher highs lower lows then higher highs always mess with my head. i expect a megaphone but then it continues its course and just ends up being noise
Did not trade much today, because i got a late start. i usually don't do much on fridays. made a few wins and losses but the big trade i saw was a short. I saw a double top banging against resistance and thought it would be a good few points. i expected it to stall at 2131 and 2128, but it went straight through with no resistance down to 2120. i could have held longer for 10 times the profit, but i'm not that confident yet haha.
oh well ended the day 112 small but better than a lose
i don't know why but i decided to trade a bit more because i saw "opportunities" even though i said i was done for the day and ended losing 5 trades in a row and i'm down 215. i am definitely done now.
AH 187.5 today gonna stop for real this time haha. Today was a very up and down day went from -75 to 225 down to -25 back up to 187.5. commission started stacking and net profit is 128.62. didn't make up last fridays loss, but i need to practice not letting other days/ previous trades effect how i trade NOW.
i expected a range got stopped on on a long by tiny pushes to the down side so changed my bias short. worked my way up 3 winning trades short but then lost everything when it reversed. After losing 3 stubborn trades short i switched long for 1.5 points than took my final trade short when i saw a double top pushing against the bollinger bands.
the large majority of my losses today were in the 2120-2121~ reversal area which is funny because i marked that off as a potentially strong support when i first started the day but lost it anyway haha.
well down 825 today right under my daily loss limit lost 12 trades in a row maybe. I need to stop scalping and begin learning how to swing trade. I've tried to stop scalping and begin swing trading before, but i just end up losing 80% of my days and things go horrible. Scalping is just what i assume most beginner traders start with. I feel like scalping just makes it much easier for me to over trade and begin trading PnL. i'm gonna stop scalping despite people telling me to keep trading for 1 or 2 points, i just feel no improvement.
