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, it must generate money for your living, not consuming time only
S&P 500 / BTC – Trading Rules
- Entry
- when you enter a trade do not look at profits to take, start from exit in the worst case scenario first. Which means lower levarage. Less profits but profits. Week by week will increase.
- Stop Loss
- no stress, no blow up account, liquidation of positions cannot be reachable ideally 2x lowest/biggest position and not less than 30%
- Follow intraday price action
- it does not matter what you think will happen
- 50% times your assumptions will be wrong
- the only thing matter is price action
- follow smart money, whales, intraday action
- do not stay angry, just follow price flow
- Be consistent winner
- pyramid winning positions
- book profits often
- move stop loss to breakeven
- you trade your account, not instrument
- finish day with win trade
- Assess market phase
- based on daily/weekly/monthly time frame (up, down, sideways, reversal up/down)
- check top 6 Stocks (20% market cap) – assess Risk Reward direction
- check EUR/USD trajectory
- 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 when big meetings takes place
- Play defense game
- Trade only when you spot great quality set ups
- Checkout morning EU and afternoon US opens
- Eliminate bad habits – limit amount of trades
- Increase batch size instead amount of trades
- BIG wins
- are crucial to stay positive & get motivated!
- when market gives you signal MUST take it
12/12/2022 -16/12/2022
2. Daily summary
SP500/BTC ↔ trading range
30% profit on BNX with 8x leverage
SP500/BTC ↔ reversal 13.12.2022
-100% drawdown on Wave with 20x leverage and no stop loss