NeverQuit's Trading Journal - page 2
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Actually there are a few of us reading your journal, will be watching as you proceed forward.
Cheers
Thanks Monarch. I appreciate the support. I just decided to create a journal to keep documented proof of my journey. So when my kids ask me "Daddy, how did we go from living in our small apartment to this beautiful house" I will be able to show them step by step just how it happened!
Actually there are a few of us reading your journal, will be watching as you proceed forward. Cheers
The important thing is the kids, there are many ways to succeed in life without Forex.
I do hope you find the pathway in your quest.
Cheers.
Yes, my family is the most important thing to me. I'm doing this so my kids can have a better starting place than I had in the race of life.
Thanks again and I hope all that you want comes your way as well.
The important thing is the kids, there are many ways to succeed in life without Forex. I do hope you find the pathway in your quest. Cheers.
Today was a tough day for me and it was tough for one simple reason...I started my day off by not being patient enough. I pulled the trigger too early on a trade and my day was all uphill from there. I fought the market all day long and todays the US session I was able to start seeing the light at the end of the tunnel.
The only problem was I was not sure if it was the light or the train coming towards me.
I guess it's safe to say that it was the light as I was able to pull 1.10% profit from the market and end the day with my trading account right at $67.00 on the dot. Had I not pulled the trigger so early on my first two trades, I would have clearly made about 4% at minimum today. I was down -6.59% at one point and fought back to end the day with a profit. A nice day indeed but I'm disappointed in myself for taking two trades that were not strong setups in my eyes.
All in all, I ended the day in the black so I can't complain really. After my trading session today, I think I'm going to crack the bottle of Belvedere and toss back a few drinks!
Chat with you all later in the day. Positive trading wishes to all.
Hey NQ, how long do you typically (if things go well) spend trading per day?
Hey MM how are things going for you?
Great question that you have asked. I usually trade for no more than 6 hours combined each day...if that. Many times, I'm done within 3 to 4 hours max. Now for some people that may be shocking because the markets move 24 hours per day.
For me, even with being unemployed I don't want trading to consume me and my life. As crazy as this may sound, I have more success on the days when I trade for a few hours then quit for the day. On the days when I just trade and trade non stop, I usually end up having a negative day or making the same amount as I do on the days I stop early.
For me, when I first got involved in trading years ago I always told myself that I wanted to trade for a living and not live to trade. I want to be able to provide for my family but also enjoy the perks that come with the money you can make from trading. I can't see making $500 per day and then still living like I'm on unemployment.
So I trade for a few hours and then remove trading from my mind. Although I'm not in the position now to enjoy the money, when I am, I will have already conditioned myself to not let trading consume me. So I suggest that if you can try to limit your trading in time then you may find that you have more success.
Another piece of advice I want to give and I'm sure you heard this before is to trade during the most active times. So I try to only trade the open of the Europe session and the open of the US session. I find that if you do that, you put the odds in your favor much more of having a successful trading day.
Sorry for this answer being so long, I just like to explain myself well to make sure that I don't leave anything out.
Hey NQ, how long do you typically (if things go well) spend trading per day?
Today I only placed one trade and it was a winner for 1.88% profit. My account balance is now at $68.26. The reason why I only had one trade was because I was dead tired last night.
I tried my hardest to stay up and trade the Europe session open like I normally do but I was unable to do it. Hopefully tonight will be a different outcome and I can survive the temptation to fall asleep.
I've decided that rather posting a screenshot each day (hence no screenshots in my journal yet) I will post a screenshot after my trading day is over on Friday of what my account balance is and I will put some words on the screenshot to share my thoughts of my trading week.
Well, I'm off to get something to eat. Positive trading to all!
Well this was my first trading week of my "Trading Career Fresh Start" and it was a great week. I really am proud of myself. I had a few slip ups but I stayed the course and did not get discouraged. Today I was able to make a 2.78% gain.
My daily goal is to average 1% per day and this week I well exceeded that. My average daily gain for this week was 4.23% due mainly to a very productive Tuesday. I'm not going to get ahead of myself one bit. This is just one week in a lifetime of trading but it does feel good to get started on the right foot. My focus next week is the same as it was this week...take the signals that I see fit worth trading and don't get ahead of myself.
I wanted to attach some screenshots but it said the files exceeded the maximum size allowed so I guess I will just have to type everything out instead. My weekly total gain was 21.17% ($13.00) I did not have a losing day this entire week, which I'm very proud of. I'm thinking about taking $5 (yes, that's not a typo) and trading a high risk account along with my primary account. The purpose of the high risk would be to make bigger profits (yes, I understand that means bigger losses too) and then transfer the money to my primary account if I was able to flip it a few times. I picked $5 because I can lose that and not worry about it. I'm not sure if I will do it just yet because I don't want to start trying to do more than I need to at this point. If I do decided to do it, I'm still up in the air about the amount. I would not use more than $100 but don't know if I want to jump up that high just yet. That's chump change to some but to me right now, $100 is a big amount of money.
I wish you all much success in trading and life. I will start posting my results again next week after I trade during the Europe open.
Have a great weekend to all!
I did not get a chance to report my results from Mondays trading so I'm doing so now. I was helping someone move and that threw my day off schedule because I had to cook dinner and do my normal routine late.
All in all, it was not a horrible day trading for me. I made some mistakes on my part that caused me to have a losing day. I took a short when stochastics was overbought trying to anticipate the fall and I no longer do that but I did on Monday. I used to always get burned in situations like that so to make that mistake again, bugged me a bit. I ended up having a losing day of -1.87%. So it was not something dramatic.