Introduction
Hello All, I am Lone WOLF, a complete intraday trader, trading in index and stocks future, starting out my intraday trade diary to keep track of the details which will be helpful to my intraday trading.
Game Plan
* Risk 1% maximum on every trade.
* Stop trading for the day if equity is down to 3% from its peak.
* Stop trading for the week if equity is down to 6% from its peak.
* Stop trading for the month if equity is down to 10% from its peak
If weekly risk/monthly risk is hit, paper trade until I recover 50% of the lost amount.
Strengths
* All the trades are taken as per my clearly defined trade set-up rules.
* Taking calculated risk in every trades.
* Cutting loss early when price is not moving convincingly after my entry.
Weakness
* Not being able to capitalize efficiently on wining trades. Sometimes closing them out too early and sometimes giving back profit to market.
* Scaling in on winning trades.
Goals
* To learn holding on to the winning trades. As this is what is gonna make money for me.
* Learn and implement scaling in strategy.
Purpose of the Diary
* To keep a close track of my risk and daily equity curve.
* To keep a positive pressure on myself to perform.
* To keep notes of important learning/points from day to day trading.
* Work progressively to reach my goals.
Thank You
Hello All, I am Lone WOLF, a complete intraday trader, trading in index and stocks future, starting out my intraday trade diary to keep track of the details which will be helpful to my intraday trading.
Game Plan
* Risk 1% maximum on every trade.
* Stop trading for the day if equity is down to 3% from its peak.
* Stop trading for the week if equity is down to 6% from its peak.
* Stop trading for the month if equity is down to 10% from its peak
If weekly risk/monthly risk is hit, paper trade until I recover 50% of the lost amount.
Strengths
* All the trades are taken as per my clearly defined trade set-up rules.
* Taking calculated risk in every trades.
* Cutting loss early when price is not moving convincingly after my entry.
Weakness
* Not being able to capitalize efficiently on wining trades. Sometimes closing them out too early and sometimes giving back profit to market.
* Scaling in on winning trades.
Goals
* To learn holding on to the winning trades. As this is what is gonna make money for me.
* Learn and implement scaling in strategy.
Purpose of the Diary
* To keep a close track of my risk and daily equity curve.
* To keep a positive pressure on myself to perform.
* To keep notes of important learning/points from day to day trading.
* Work progressively to reach my goals.
Thank You
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