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. TRADING PLAN & RULES
Risk Management
- Leverage – max 10x, ideal 5x leverage
- Small Losses – the only way to increase account size is to have small losses
- Discipline & System – series of trades (system) over single trade
- Risk/Reward – search trades for min 1:4 RiskReward probabtility
Overtrading
- Relax – Don’t need to trade every day.
- Quality – Reducing trades is the key (only quality trades)
- Master One Strategy – master one trading strategy
- One Trade – Only one / two trades are enough for day trading
- Profits – account size increases by making profits not frequent trading.
Critical
- Time Element– give price time to execute, stay patient
- Market Goal – take your money
- Supply & Demand – put odds of success in your favour (supply/demand)
- Survival & Inventory – you hard earned cash is your inventory, never stockout
- Smart Money – follow smart money and supply/demand zones
Psychological
- Getting Rich Scheme – means repeatable trading proces plotted into months
- Market Has No Feelings – you cannot persuade it by speaking
- Todays market price – has already factored all news and economy
- Do not chase the price – wait once it back to demand zone
2. CHARTS
27/06/2022 – 03/07/2022
3. Weekly summary
- Improvements on TD365 – stabilisaton without major drawdowns
- Crypto – i have made 2x swing trades NOT inline with my short term / intraday rules and keeping rather idea from Mark Schawzin as a big daily/weekly time phrames movements. They may still be right but just need to wait for them to execute. In the meantime naturally i understood that position was wrong way too big versus account size.
