Hey guys, this is my 2nd attempt here to track my own journey.
here is my first trial and I couldn't follow it for some personal reasons. I will make sure this time it will be different and I'll share my journey regularly. Main purpose of this thread is to track my journey towards a successful System development.
What's Changed
I understand I am nowhere near a successful trader and I lack so many things and I have many obstructive traits that are stopping me to become a profitable trader. I think this new understanding pushes me to towards the right direction.
A little about my style
As I am a discretionary trader, I am unable to do backtest my strategy and to be frank, I don't have a single strategy. I am following the S&D with finding traps and trade them.
So far I have nailed down a few and basic rules to follow and failed miserably to follow them on my first day itself . Anyway here are the basic rules I have and as time progress, I will add more rules as I fine-tune my system according to my psychology.
RULES
1. Take no more than 1-2 trades per day
2. 100rs risk per trade
3. Alway lose less and gain more( focus here is don't book less than 1R profits when your trade is successful)
4. I'll halt my trades if I hit 40% drawdown
GOAL
1. Basically doubling the capital (I don't care how much time it will take)
2. Find out repeating mistakes in my trading behavior
4. Updating here regularly ( my approach here is baby steps, I will make sure I'll update this journey for this MAY month)
******************************************************************************************************************
Total Number of Days not followed the rules(so far): 1
Starting CAPITAL=>10000rs
Daily Updates
Month May (Below updates are brokerage inclusive)
Day1 => P/L :123 => Capital :10123
Day2 => P/L : => Capital :
Day3 => P/L : => Capital :
Day4 => P/L : => Capital :
Day5 => P/L : => Capital :
Day6 => P/L : => Capital :
Day7 => P/L : => Capital :
Day8 => P/L : => Capital :
Day9 => P/L : => Capital :
Day10 => P/L : => Capital :
Day11 => P/L : => Capital :
Day12 => P/L : => Capital :
Day13 => P/L : => Capital :
Day14 => P/L : => Capital :
Day15 => P/L : => Capital :
Day16 => P/L : => Capital :
Day17 => P/L : => Capital :
Day18 => P/L : => Capital :
Day19 => P/L : => Capital :
Day20 => P/L : => Capital :
here is my first trial and I couldn't follow it for some personal reasons. I will make sure this time it will be different and I'll share my journey regularly. Main purpose of this thread is to track my journey towards a successful System development.
What's Changed
I understand I am nowhere near a successful trader and I lack so many things and I have many obstructive traits that are stopping me to become a profitable trader. I think this new understanding pushes me to towards the right direction.
A little about my style
As I am a discretionary trader, I am unable to do backtest my strategy and to be frank, I don't have a single strategy. I am following the S&D with finding traps and trade them.
So far I have nailed down a few and basic rules to follow and failed miserably to follow them on my first day itself . Anyway here are the basic rules I have and as time progress, I will add more rules as I fine-tune my system according to my psychology.
RULES
1. Take no more than 1-2 trades per day
2. 100rs risk per trade
3. Alway lose less and gain more( focus here is don't book less than 1R profits when your trade is successful)
4. I'll halt my trades if I hit 40% drawdown
GOAL
1. Basically doubling the capital (I don't care how much time it will take)
2. Find out repeating mistakes in my trading behavior
4. Updating here regularly ( my approach here is baby steps, I will make sure I'll update this journey for this MAY month)
******************************************************************************************************************
Total Number of Days not followed the rules(so far): 1
Starting CAPITAL=>10000rs
Daily Updates
Month May (Below updates are brokerage inclusive)
Day1 => P/L :123 => Capital :10123
Day2 => P/L : => Capital :
Day3 => P/L : => Capital :
Day4 => P/L : => Capital :
Day5 => P/L : => Capital :
Day6 => P/L : => Capital :
Day7 => P/L : => Capital :
Day8 => P/L : => Capital :
Day9 => P/L : => Capital :
Day10 => P/L : => Capital :
Day11 => P/L : => Capital :
Day12 => P/L : => Capital :
Day13 => P/L : => Capital :
Day14 => P/L : => Capital :
Day15 => P/L : => Capital :
Day16 => P/L : => Capital :
Day17 => P/L : => Capital :
Day18 => P/L : => Capital :
Day19 => P/L : => Capital :
Day20 => P/L : => Capital :
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