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
3. CHARTS
02/05/2022 – 08/05/2022
4. Weekly summary
- Beginning of the week was really good especially at bybit, where i was intraday trading cryptos.
- Most of my positions was short, i took cryptos which got 30% jumps, which is also often signal to sell under good profit for longers.
- I have decided to go all in into DAR/USDT because can see that longers has issues to put market higher so this is weakness signal for me.
- Due to impatience i have opened/closed 10x same positions and lost 100 USD with no reason, so now awaiting final market decision. I will know very soon.
- I broke all rules on 05.05 and lost all capital on bybit 500 USD. I could stay -30 USD and instead i got – 500 USD. Incredible. Lessons? This is why most traders will NEVER be profitable because we are humans and humans are stupid, break the rules and do not follow best practices. Discipline and rules and fundamental approach for trading. If you cannot achieve you will NEVER be profitable.
