So, my primary intention behind starting this thread is to keep record of my trading progress. But this will not be just a trading journal.
Procrastination has been my biggest enemy so far. Every night, I tell myself, tomorrow will be a new day. At least 12 hours of deep work, proper sleep schedule, exercise, no smoking, no junk food, no procrastination, no anxiety, trading with proper risk management and the list goes on. But every morning I wake up, it's the same cycle again. This is messing with my sense of self-awareness and self respect. Obviously, some negativity has crept in and it is affecting my trading. It's a vicious cycle!!
I think a little public declaration of my goals will help me against these things. If I don't do the things I decide here today, that would be a real shame. Of course I might have to find another way because it can't just go on like this, but that will be a serious blow. More on that later, let me chalk out the plan first.
Duration: 30 days, starting today.
Capital: 1000 USD
A. Trading:
Yes, first things first. I scalp forex pairs and I am comfortable with it. In the last 2 years since I started trading, my biggest problem has been this: I cannot hold a winning trade for long because of the fear of it going back against me. But I hold losing trades hoping they will eventually turn back and break even. (unfortunately, many times they don't!!). So I have a good win ratio overall but that 1 losing trade takes away everything I have earned. This has happened to me at least 5 times till date. So, riding the winners and cutting losers is the first target.
Daily expected return: 2%. This means, in the next 20 working days, final account balance should be at least 1400 USD (2% of 1000 for 20 days), or 1485 if compounded. I am not worrying about this much, even a scratch is a win. But I have to have some numerical target and I think 2% suits with my trading style.
Money Management: No strict stop loss but will not rebuy or resell (no or minimum averaging). Will let go e
Will not bet more than 2% of the capital on a single trade. (i.e. each trade will be of 0.2 lots initially).
Maximum deep work (Will keep track and record experiences)
B. Other things
I will keep track of these things daily and update here at EOD. There is a possibility that you might find this a little too much or totally unrelated to trading but trust me, these are the things that keep nagging me and I have to deal with them urgently. I won't mind if I don't reach 1400 USD but these, I must follow.
1. No smoking, drinking
2. 10 km jogging everyday
3. 1 hour upper body exercise
4. Only healthy food
5. No unnecessary expenses
6. No negativity (No Facebook, Instagram or political news, no negative thoughts, no jealousy)
7. Self-awareness all the time
You guys are welcome to share your thoughts but no trolling or unnecessary arguments etc please. If anyone wants to join this journey and have similar goals, you are welcome too.
Procrastination has been my biggest enemy so far. Every night, I tell myself, tomorrow will be a new day. At least 12 hours of deep work, proper sleep schedule, exercise, no smoking, no junk food, no procrastination, no anxiety, trading with proper risk management and the list goes on. But every morning I wake up, it's the same cycle again. This is messing with my sense of self-awareness and self respect. Obviously, some negativity has crept in and it is affecting my trading. It's a vicious cycle!!
I think a little public declaration of my goals will help me against these things. If I don't do the things I decide here today, that would be a real shame. Of course I might have to find another way because it can't just go on like this, but that will be a serious blow. More on that later, let me chalk out the plan first.
Duration: 30 days, starting today.
Capital: 1000 USD
A. Trading:
Yes, first things first. I scalp forex pairs and I am comfortable with it. In the last 2 years since I started trading, my biggest problem has been this: I cannot hold a winning trade for long because of the fear of it going back against me. But I hold losing trades hoping they will eventually turn back and break even. (unfortunately, many times they don't!!). So I have a good win ratio overall but that 1 losing trade takes away everything I have earned. This has happened to me at least 5 times till date. So, riding the winners and cutting losers is the first target.
Daily expected return: 2%. This means, in the next 20 working days, final account balance should be at least 1400 USD (2% of 1000 for 20 days), or 1485 if compounded. I am not worrying about this much, even a scratch is a win. But I have to have some numerical target and I think 2% suits with my trading style.
Money Management: No strict stop loss but will not rebuy or resell (no or minimum averaging). Will let go e
Will not bet more than 2% of the capital on a single trade. (i.e. each trade will be of 0.2 lots initially).
Maximum deep work (Will keep track and record experiences)
B. Other things
I will keep track of these things daily and update here at EOD. There is a possibility that you might find this a little too much or totally unrelated to trading but trust me, these are the things that keep nagging me and I have to deal with them urgently. I won't mind if I don't reach 1400 USD but these, I must follow.
1. No smoking, drinking
2. 10 km jogging everyday
3. 1 hour upper body exercise
4. Only healthy food
5. No unnecessary expenses
6. No negativity (No Facebook, Instagram or political news, no negative thoughts, no jealousy)
7. Self-awareness all the time
You guys are welcome to share your thoughts but no trolling or unnecessary arguments etc please. If anyone wants to join this journey and have similar goals, you are welcome too.
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