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
IGeneral
- 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
S&P 500 / BTC – Trading Rules
- Assess market phase
- based on daily/weekly/monthly time frame (up, down, sideways, reversal up/down)
- check top 6 Stocks (20% market cap) – assess RiskReward direction
- Analyse institutional tools:
- VWAP – assess phase: balanced (rotational), imbalanced (trend), reversal (imb failed), breakout (balance failed)
- Footprint – check out on 4h in which direction there are smart / institutional orders placed
- Market Blocks/Letters – next potential targets depend on scenario
- Track US economical calendar
- Be aware about BIG meetings markets are waiting for
- General
- Trade only between 14-16 EU time, during US open
- Limit amount of trades to max 3x – pick up only highest quality set ups
- Increase batch size instead amount of trades
- Being wrong – you will be wrong ~50% times, keep two scenarios
3. CHARTS
02/10/2022 – 09/10/2022
Top 6x Global Indices
Top 6 Global Currencies
Top 6x US Stocks (20%) S&P500
Top 6x (personal) Crypto
Market Assumptions
Market Week Close
VWAP Week Close
Footprint Week Close
Footprint Week Close
4. Daily summary
SP500/BTC ↔ breakout up, relief rally
i was early buyer who was kicked out 35x times, stay more patient and wait for a confirmations it won’t go down anymore
SP500/BTC ↔ up
only add to positions, breakout continuation
SP500/BTC ↔ up
only add, buy continuation
SP500/BTC ↔ sales
start selling and sideways
SP500/BTC ↔ strong sell!
last day of a week, strong sales driven by emplopyment report, however it could be predicted by looking at 20% SP500 charts
SP500/BTC ↔ sales
follow up sales
SP500/BTC ↔ sales
follow up sales