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 RULES & PLAN
General
- Risk & Personal Responsibility – the only way to survive in the long term
- Gambling – in/out 100x a day without big picture
- Survival & Inventory – you hard earned cash is your inventory, never stockout
- Patience – wait for big market moves, give price time to executes
- Turtles wins the race – think in terms of months / years compounding power
- Self-discipline – making a conscious commitment to pay attention to what you are doing
- Getting Rich Scheme – means repeatable trading proces plotted into months
- Market Has No Feelings – you cannot persuade it
- Todays market price – has already factored all news and economy
- Do not chase the price – wait once it back to demand zone
- Do NOT fall in love with markets – being profitable means often boring, not excitement
Swing Trading Rules
- Assess market phase – based on daily/weekly/monthly time frame (up, down, sideways, reversal up/down)
- Do not trade sideways market – trade all other, big moves with min. 1:3 RR ratio.
- Max 3x trades – pick up only highest quality set ups
Intraday Rules
- Max 1h a day – this is max time you can focus, all more means losing
- Max 3x trades a day – to avoid overtrade and gambling, pick up only highest quality set ups
3. CHARTS
26/09/2022 – 02/10/2022
4. Daily summary
SP500/BTC ↔ sell/sideways
No trade
SP500/BTC ↔ sell/siedaways
No trade
SP500/BTC ↔ siedaways
BROKE RULES: 4 trades instead only 3x: 3x won traders, achieved max and then 4th overtrade, lost. Then stopped
SP500/BTC ↔ sideways
no trade
SP500/BTC ↔ sell
BROKE RULES: 40 entries, SP500 used 450$ to enter properly, now awaiting for relief rally up to 1.200$. Bitcoin should be ready for rally too, so i have loaded on MATIC which absorption looks the strongest.
SP500/BTC ↔ relief rally, up
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SP500/BTC ↔ relief rally, up
..