A journal to keep track of my trades.
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DislikedWeekly Bias 10 August to 14 August: Bullish First trade for the week Trade 1 on 11 august Entry 1.1720 SL at 1.1690 and target 1770. Target Hit : 47 Pips Trade 2 on 11 August Entry :1741. Manually closed due to price change in direction by closing below 1720 line SL: -22 pips. (On review , the price didnt really hold below the 1720 area. I closed it from my mobile phone and saw it differently.) {image}Ignored
Disliked{quote} Hi Ge, The price was below the S50 and Pivot and also the distance to my white line (at 1720) was larger. My stop loss for the 11 Aug trade was at 1680. So I was waiting a bit longer to improve the entry. There was no Idea #2 or Idea 3 trades on 10 Aug and the only option was to take an Idea #1. So I wanted to reduce the risk as much as possible for taking an Idea #1. Thank you.Ignored
Disliked{quote} I would encourage you to use your journal to talk about the trades like this instead of listing entries, SL and targets. Focus more on the thought process you are having and not the specific facts. You'll have those in your trading history. If possible, journal at the moment you take the trade. And possibly a post of what you learned about your week's trades at the end of the week. It appears you aren't doing the exercise, so it will be most important to log what you see as you trade, not entry numbers and exit numbers. This will ultimately...Ignored
Disliked{quote} Sure Ge. It appears you aren't doing the exercise, The intention of my Second trade yesterday was doing the exercise. Just that I was waiting for an improved entry at 1741. The price didnt actually show that it want to go to the downside. I was not in front of the computer and closed it from my mobile phone thinking it held below 1720. On August 10, I didnt spot any opportunity for entry as per the criteria's of the exercise. Am i missing anything?Ignored
DislikedFor the next few months, take every Simple50 and Pivot trade. Still follow the bias and directional rules. Don't close a trade until the chart confirms a change in direction and take profit when swings are challenged or broken. If you've had a good week, avoid Friday. Warning, you may lose the $20 or you may grow it, I have no idea. But I think you will get more out of the education in fear, frustration, and anger. You might just also start learning how to trade. As a refresher, above is the exact text from the exercise I mentioned. Also, I gave...Ignored
DislikedFor the next few months, take every Simple50 and Pivot trade. Still follow the bias and directional rules. Don't close a trade until the chart confirms a change in direction and take profit when swings are challenged or broken. If you've had a good week, avoid Friday. Warning, you may lose the $20 or you may grow it, I have no idea. But I think you will get more out of the education in fear, frustration, and anger. You might just also start learning how to trade. As a refresher, above is the exact text from the exercise I mentioned. Also, I gave...Ignored
DislikedHi Rearden - This is great to watch, just wanted to say its exciting to watch as you learn and I'll be following along (silently) to see how your trading develops over the next few months. Good luck!Ignored