Spanish89's Daily Trading Journal...!! :cheesy::cheesy::cheesy:

spanish89

spanish89

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Aloha everyone..

I have only been using Trade2Win for about 3weeks, as i only made the switch from fixed odds to discovering that spread betting existed 3weeks ago! :LOL::cheesy::LOL:

However quite a large number of you already know about me due to some of my rather extreme and contreversial topics that have generated alot of interest and reaction in very short time frames!! :LOL::LOL: LOL

:devilish:



So i have decided to keep a daily journal on here about what trade i do everyday, how much profit or loss i make, and what we can all learn from it! ;)(y):smart:


Currently and for the next few weeks atleast probably i will be only demo trading till i can manage to get consistent at ending with profit atleast 80% of the times every day, day after day after day...!! :cheesy::clap::cheesy:

And i am still i want to 1st pay off the £2,000 creditcard debt ive got myself into 1st!! :(:cry::( :!:
(Only about £600 of it is debt from foolish trading)



But everyday i will give a brief summary of the trades ive made that day, the overall profit and loss for the day, and why i made those trades in general that day.

I may also add a graph or 2 to show you where i put in my support & resistance lines, and where i thought i saw trend lines at different times of the day.


(Dont worry i will make sure that it stasy exciting and enthusiams filled, so you wont just get bored every night if you choose to read it every night!) LOL ;) :LOL::LOL::cheesy::cheesy::LOL::LOL:
 
Oh and btw im a FTSE mornings, AUD/USD, and Oil trader specifically...


Although i occasionally will try and cash in on the daily volatiles! :cheesy::p:cheesy: ;)
 
Looks like I can cancel my trip to Alton Towers, then. ;)

Stick to just AUD/USD and see how you get on. Over the next few weeks you will start to learn the characteristics of this pair if you just watch this on its own.
 
As one beginner to another... When I started playing chess years ago, the best piece of advice given to me by a very fine club player was, "when in doubt, sit on your hands" - it helped me to win quite a few games over the years.
 
gododdin said:
"When in doubt, sit on your hands".
Click to expand...


I tried this last week..,
but i got so nervous i ended up having to wash my hands afterwards!! :LOL::LOL::LOL: ;)

(JOKING)


Thanx for your advice..
I will listen to it and follow it.

I already also have my set of trading rules too, and 1 of them is analysing and menatally documenting my reasons for each trade before i make it.


Trading Rules:

1. I only want to make 10pips clear profit per trade.
(Anymore would be a bonus, but i would 1st end and lock at 10).


So this way at end of day i can look back and see that;

- Instead of being the super power trader who 'did' manage to earn £250 in 1hour, but then became fool who at the same time managed to lose 300!!....

- I will be the smooth operating, relaxed trader who just sat back on his sofa relaxing and surfing the net all day, while still managing to earn above £10 per hour, every hour!!



2. I wont try being the brave hardman who is the 1st to try finding and surfing the next biggest wave.

Instead i will wait till some other fools have lost their cash searching for the next trend, but instead of joining in il simply wait till the trend comes, shows itself and finds me! :D


3. Il stop and actually think through, evaluate, and confirm before each trade

a. Why i am making this trade at this time??

b. What is it currently doing that makes it not only beneficial for this second, but will still be going strong in a few minutes time after i execute trade and then have time to sit back and enjoy the cash flow??

c. Is this a definite trend already been started and in motion, or am i just trying to be creative with noise??


4. Keep my profits clear and separate no matter what!
 
spanish89 said:

I tried this last week..,
but i got so nervous i ended up having to wash my hands afterwards!! :LOL::LOL::LOL: ;)

(JOKING)


Thanx for your advice..
I will listen to it and follow it.

I already also have my set of trading rules too, and 1 of them is analysing and menatally documenting my reasons for each trade before i make it.


Trading Rules:

1. I only want to make 10pips clear profit per trade.
(Anymore would be a bonus, but i would 1st end and lock at 10).


So this way at end of day i can look back and see that;

- Instead of being the super power trader who 'did' manage to earn £250 in 1hour, but then became fool who at the same time managed to lose 300!!....

- I will be the smooth operating, relaxed trader who just sat back on his sofa relaxing and surfing the net all day, while still managing to earn above £10 per hour, every hour!!



2. I wont try being the brave hardman who is the 1st to try finding and surfing the next biggest wave.

Instead i will wait till some other fools have lost their cash searching for the next trend, but instead of joining in il simply wait till the trend comes, shows itself and finds me! :D


3. Il stop and actually think through, evaluate, and confirm before each trade

a. Why i am making this trade at this time??

b. What is it currently doing that makes it not only beneficial for this second, but will still be going strong in a few minutes time after i execute trade and then have time to sit back and enjoy the cash flow??

c. Is this a definite trend already been started and in motion, or am i just trying to be creative with noise??


4. Keep my profits clear and separate no matter what!
Click to expand...


you will also need a clearly defined strategy, do you have one?

take a look a lurker lurkers journal (who although he doesn't post anymore is doing pretty well for himself now) and see the process he has gone through. until you have a plan you have no chance of sticking to it. get one setup or system. trade one market until you know it like the back of your hand and are profitable.
 
brutusdog said:
you will also need a clearly defined strategy, do you have one?
Click to expand...


Aloha my current stratergy is just using the day's support and resistance levels as my guidline for when to enter positions and which direction to trade them in.

And to just always make sure im trading with the trend. :)



I prefer to keep things basic and simple, rather then attempt to try and use a whole big series of signals and indicators that would cost to subscribe to, as from looking at other top traders postings there arely do any good whatsoever.

You just have to trade on what you can see happening, not on what someone else tell you is going to happen! :D
 
I know we keep telling you this, but only aiming to be taking ten pips profit is doomed as a strategy to learn with on spreadbetting because of the spread. It makes your losers much worse than your winners.
 
arabianights said:
I know we keep telling you this, but only aiming to be taking ten pips profit is doomed as a strategy to learn with on spreadbetting because of the spread. It makes your losers much worse than your winners.
Click to expand...
Click to expand...


This is only a demo idea that i was trying to start with as my target.

I would love to be able to make 50pips per trade day trading..,
I would love even more to be able to make 250pips profit per trade day trading!!

:)


But if previously on my best day when i was using real cash i only ended the day making pips profit,
Then i would be trying to get ahead of myself if i now try saying that im going now now try to move from (minus 100s - profit 6 per day), to now be able to gain the skill and talent to make (50 - 250 profit per trade day trading! :confused:
 
What happens when there have been no good opportunities and it's 30 minutes before the end of the US sessions? How would you feel if you haven't placed a trade by the end of the day?
 
Ok i didnt trade today as i had a bodyguard job callout at 7am this morning, so had to get myself over to heathrow airport quite sharpish.
And was traveling with client till 2pm.


Feel very gutted though as i only earnt £150, when with the extreme % losses throughout all the indicies and the UK banks i know that i could have made an absolute fking killing today of over £1.5k!!! :devilish::devilish::devilish::devilish:

I was extremely suprisied about the 'lack of loss' in the Dow, and how it actually closed up! :|
 
But markets only going to get worse over next few weeks and months, oil going to rocket, and so im going to stick to my promise of only demo trading untill ive cleared all my creditcard debt.
 
Ok feeling like complete utter crap and sh*t today as caught a cold from my fiance yesterday evening!!! :confused::cry::cry::confused: :eek::|

And so it really does bring down your whole morale and drive to trade as you just feel liek crap!! (Especially with to my nose, as im only 9months out of surgery so its not easy 2 blow it or anything!!) :cry: :confused::confused:


But ok back to trading...
Had rather a pointless day trading again today, since because im at college from Monday - Thursday i cant be at home infront of laptop practising and learning how to trade to make profit consistently..!! :mad::(:cry:


I will be off for easter from about the 1st of april till 16th, but will then be with my fiance most days so still wont be able to trade much.. :confused: :|:|



And i dont finish college till june, but then will basically need to start supporting myself and trying to earn and set aside enough money to start a proper future for me and my fiance so we will be able to move in together and live in Spain in 2years.

However i gave up my previous career 9year plan, to choose to now going to become a fulltime trader for my future career, so its an extremely important that i become sucessful at it, or else i simply will not be able to survive!! :confused::confused::confused:



But ok back to today i guess...
I only made 1 demo trade today on the AUD/USD futures (my spot FX platfrom hadnt been activated).

I sold down the AUD for 915 at about 12 lunchtime, not with much real pre-analysis, but just used the basic 3 indicators that i use:

1. Look at the news for the day.
(US econmoy was on a optism boost, and so i was confident dollar was going to rise and try fightback the other FXs that had been thrashing it recently).

2. Look and try to draw support and resistance lines for the day.
(Im trying so hard and long saving graphs to my desktop, the editing them in 'paint' and drawing all the S&R line sthat i think i see, and the different trend i see, and then trying to find eany experienced traders who are happy to loo at it and tell me if im right, or where im missing or adding 1s.
But i feel im still doing it wrong!) :(

3. Look and try to see where the trend has been, and where it will go to next.
I also now use the MA lines stratergy that if the red line (fast moving 1) is below the blue (slower 1) then the trend is going down as its being carried faster down, and vice versa.


K so i sold down at 915, went back to college from 1 - 3, then went my mates house.
I got back home about 11pm, and logged on to check how my predictions had been for the day...

.ZER0.

0 P/L


The market had closed its session at 7pm with a buying back price of 951. lol :sleep::|


If id been watching screen like i normally like to as i like to hold for few mins - maybe an hour or more max, i could have closed at a 20pip profit.
 
Sorry for not much of a proper conclsuion at end of post, but i just feel too **** cos nose to write anymore. :(


Btw i also feel v v deflated though as i was right about USD recovery, as against EUR it smashed back its ground..,
and EUR is normally menat to be the same route as the AUD will take against USD too.

But i checked the Spot prices for AUD/USD and it was at 309!! :( :(
 
Ok today was quite a good day for me trading wise today, even though i felt like complete crap and very ugly... Sigh :cry::cry:


I started trading at about 8.40 as couldn't be bothered to go college today like most days... LOl


I started by just testing the water on ftse (cut loss to 9pips only), just to check which direction it wanted to trend.
And then sold down the Ftse at about 8.45am, and held it for about 10 - 15minutes, the closed taking 51pips profit.

I tried to get abit smug and cocky, and tried a 2nd trade then selling down at £2 per pip, however i had closed with perfection right at end of trend, so had to take a £10 loss.


I looked at graph quickly, checked all that support was there, and then bought back up about 2-3mins later..,
held this for about 20 - 25minutes, and then closed this for a 46pip profit.


I then watched the market for about 30 - 40mins, but there was no real movement as lunchtime was coming so ftse was joing noise flatlining.


I also looked at graph for my FX pair (AUD/USD), checked where the S&R levels were and bought up on it.
As it was the least volatile time for this pair there was no real movemnt so quite dull, but managed to cap a nice 32pips profit of it in 1 trade that i held for about 1 hour.


At around lunchtime i felt bored and was in a depressed sorta mood so decided to just gamble abit and had a half hearted go a trend trading the ftse flatlining noise, but instead of sclaping just making trade and turning screen off cos was hungry.

I lost 30pips doing this, and 50more on gold that i tried to buy up simply because of the huge drop in price from last 2weeks highs, but hadnt actually done any research into it as wasnt really paying attention or trading focused, merely just to pass time.


After lunch i reopened platform window, just in time to close a buy market order i had made on ftse before lunch, (had looked at S&R lines but not much focus more a boredem trade), but had read S&Rs and looked at MAs accurately enough to make 29pips more profit.


I then finished my trading for the day and went out to mates house.



I am very happy with my trading performance today, as i started with only £300 in my demo account as i wanted a realistic figure of what i will probably be starting with when i start to trade using real cash..
And i earnt £109 profit on this in just 4 trades before lunchtime, and only had 1 losing trade!

(Im not going to count the other trades not because i have a big ego or because i want to try fooling myself or anything silly like that... LOL :LOL:
But purely because if i was using real cash i simply just wouldnt ever have 'traded out of boredem or cockyness with my real money, would have used demo if i really simply couldnt resist the urge even! Lol
I wouldnt have taken risk on Ftse market order probabaly though, so will not include that either even though i made profit, all those trades were simply just messisng around 1s.
Even though i alays only test the water with demo account 1st il include that loss in just so i dont look to smug :LOL:).



Ok so the things i am going to learn and work on from todays experience are:
1. I want to learn alot more about the core of the FX markets (AUD/USD especially), what makes it move, and how traders know when ot trade it and which direction to trade it in.

2. Going to make sure i dont ever overtrade, or trade just for ake of it, hoping to make lucky on trying to noise trend.

3. Going to try to become braver with my own real cash, so that i would actually have the confidence to hold my winning positions for as long as i held them today with demo cash.
 
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