My ideas and trading diary

[goldenedge]

Trade 2 closed at 12 pip profit of 4897 but even though money it is a professional loss because I had to increase stop loss to 15 pips so that my pattern won't fail .

In short, I expected to earn 12 pips but was ready to lose 15 pips. It's a bad risk reward ratio which i forgot to overlook.

Total trade profit of 1200.

 

[goldenedge]

Trade 3 ) Zinc position

Short at 197.75

Expected profit mark - 197.25 SL - 198.4

 

[goldenedge]

I expected zinc to break the really tight range it is in right now half an hour ago but it is still dancing .

It raises an alarm and I'm assuming I might get whipsawed.

 

[goldenedge]

Got out of zinc at .55 so I made approx 750 net on this trade. Total profit today is 2300 (net might be around 1900)

It's nothing but I lost patience and interest in this trade. It's messing with my head.

One advice I wanna give to everyone is if you are a trader , the balance of your mind before and after the trade is 100% more important than profits or losses. Money comes and goes but having the ability and mastering yourself to be successful trader is the only thing that's important.

I only care about placing a successful trade more than making money because it's the only thing that matters in the long run. Markets will reward you with a lot of money if you have the ability. So, don't think the reverse.

I have been making this mistake too much. I'll spend the rest of the day working on my mindset even though I made like 5000 in 2 days. I feel bad with myself because I still have a couple of things to improve on.

 

[goldenedge]

Trade 4) Zinc short term counter trend trade

Zinc short at 195.90 . Betting on a short term reversal to 195.5

 

[goldenedge]

My target hit and I'm out at 195.45 . Made some casual 2250 gross.

Will look for other trades but technically my profit limit for the day has been reached so I will read a book for some time.

 

[goldenedge]

Trade 5) 2x crude oil at 4946. It was opened at around 1 pm. Sl is 4958.

Waiting for 12-15 pip profit but I'm expecting higher because the crude looks to be dancing today. (Noticed that 5 mins candle an hour earlier with a 15 rupee range?)

Sorry I forgot to update the trade earlier

 

[goldenedge]

I have broken a couple of trading rules with this single trade

1) trading from mobile (please don't do it)
2) making a 'long term' position even though I stay max two hours in a trade on average.
3) didn't take profits when it hit 12 rupee mark and still waiting for 25 pip profit.


I don't wanna blame myself for making these mistakes. Surely, no matter what though my loss and exit strategies are perfectly fixed.

I just want to mention this because making money when breaking rules is never a good thing and I made a promise to myself to post everything that went through my mind honestly while starting the journal here.

 

[goldenedge]

Trade is closed at full loss by triggering SL.

Even though the loss of 2600 approx net is a normal 1% loss, this trade is an embarrassment to me because I broke a lot of rules.

I'll close my trading day and enjoy other things in life , like a beer or two to relax. In my books, even if I take a 5000 loss per day it's fine as long as I follow all my rules correctly but it's NEVER okay to break my rules. This gets me emotionally disturbed.

In trading, making good trades come first. Money will eventually follow . Why the hell did I take a long term trade when I never take a long term trade to begin with? Sometimes even traders like me need a wake up call to fix their mindset.

Seriously I should also pat myself on the back for not moving any stop loss or breaking any of my exit rules.

 

[goldenedge]