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
- Speculate what markets wants to do
- Be inline with technical aspects
- Follow smart money and supply/demand zones
- Buy at support and 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
11/04/2022 – 17/04/2022
Comments
- This week i have discovered that active trading is not necessarily long term for me.
- Thomas Kralov who is 10y younger is multimillionaire and focus on investing rather than trading and the time spends on creating business online instead watching charts.
- MMCypto, Rafal Zaorski, so many guys around the world living rich life.
- NEW Rules implements since this week:
- active trading only in USDT on binance or bybit
- investing bitcoin or other assets on other exchanges or ledger
- do not mix all together
- I have invested 15k USD into MET (metroverse) token for amazing NFT token. It had second sales shortly after sandbox, more details to be attached within a week 16
4. Weekly summary
- Decision made: 100% focus on crypto + regular market observing in demo account every day (US30, DE40, US100), learn 2/3 triple bottom, liquidations.
- Doing same shitty entries which cannot be even made trades, these are no trades but gaming due to boredom.
PROCESS
Gaming instead of trading. Start of investing but unfortunately Zaorski / MMCrypto / thinks we need to have first shakeout which means BTC between 20-30k.
MONEY
It was lost week.
