TRADING JOURNAL
A trading journal is a powerful tool meant to help become a profitable and stronger trader. Essentially, it is a written record of what happened during a trade.
1. Follow THE rules
- Take only high quality trades (Ratio 1:3, be patient)
- Follow Smart Money and Supply/Demand zones
- Buy only at resistance / sell at resistance
- After three losses, stop trading
2. AVOID mistakes
- Do not chase the price
- Stay patient (wait for pullbacks)
- Max 10 trades a day
- Max loss a day 30 USD
- You are Manager of your trade and Market is your boss
04/04/2022 – 08/04/2022
Comments
- This week i had to close all my positions so far.
- I have also overtraded bitcoin back and forth 100x loosing money as usually on commissions and other staff.
- Market can go only up or down, i earned money last two weeks assuming market needs to go up and went up, i left this trade open for more than a week and had a great win.
- However when market decided to go down i still wanted and was assuming he needs to go up, but it did not happen. Market went down.
- If there is a huge uncertainty i should stay away from trading and check out what will happen.
- I need to keep my hardly earned capital as a buffer for worst days.
4. Weekly summary
- I have closed XPRT position with small loss and then breakeven, also had a win week before so overall did not lost on it. It was a good move
- I keep open position on PORT
- I have opened two positions on UNISWAP: PandaDao + MET (metroverse, looks outstanding)
- I had 400 USD+ profits on SOL/USDT long and move stop loss to 50% profit, it was hit and afterwards price dropped below so it was very good decision.
- Too much small open positions, learn how to wait wait wait.
- You need to be sniper no kid who shoots where he can and loosing a lot of small positions fees etc
PROCESS
It was rather loss or break even week, i have again was not patient and did not restrict my rules
MONEY
It was break even week, i have lost, i have earned some, break even will be best summary overall
