Wednesday: Took 3 days off since my last huge win day, and still couldn't avoid a large drawdown. I don't know why, but I can't seem to keep my wins at all. 3 trades in the YM today, -550. Acct at 1,745.
if it's any consolation,been getting beat up for last 3 weeks not e veryday but acct wise i'm losing,taking some time off to tune up my head,just seems every trade i put on i'm defending from the start,then when it gets profitable i will wait for the bigger move and it reverses on me,so a small profit turns into a bigger loss,have been fading the stalls in this upmove and it's not working,ing,so time off will let me see macro picture instead of micro, worst part is i was bullish for last 10 days,but when looking at all the 5 minute charts ,i forget the big picture
ammo: thx, yes misery loves company Thursday: Did 6 trades in gold, 2 in the YM. Wasn't a good day to trade today, choppy markets. I almost caught some good trends, but got scared way too fast and got out of them with tiny profits. Later on took a couple losses, and finally held onto a YM trade until exhaustion of the trend. I'm slowly getting used to this trading thing, I think. "Way of the Turtle" has been an excellent read too. Made 38, account at 1,783.
Friday: Traded 10 times in gold today. Missed the last bit of the move down as I woke up at 8:30. I'm going to be setting alerts to wake me up if moves like today happen over night again. And they seem to usually happen overnight. Was able to grind out +275, 10 trades, 6 winners. Account is at 2058. -44 for April so far. Week 10: Learned alot this week, really starting to get the hang of trendlines, and also sticking with the trend, save for 1 horrible trade this week that cost me 500. Getting down a system I can follow with consistency, finally. My ridiculous drawdowns are disappearing too. In the IB trading window, I moved the P/L column out of site so I stop staring at the damn number and getting nervous and jumping in and out of trades. It's helped alot today. I hope I can translate all this into some good trades in the coming weeks.
Wednesday: No trading Monday or Tuesday. Today was another one of those days where the majority of the move in gold was overnight, the price fell to 900 but moved up for the rest of the day. Pretty choppy overall, did 10 trades and made $225. Didn't trade my plan today, did more of a scalping strategy. I'm starting to realize different trading conditions require different styles. Account is at $2,283.
you are doing well man, a million people have said it before but just keep going you will get it. you obviously have the desire and the self introspection skills. GL do you trade mini gold?? or big
Rtrader2525: I trade regular gold, gcm8. I have more money in the account than I've posted, but this is all I'm willing to risk for this first attempt at daytrading. Thursday: Horribly horrible trading today. Early on I meant to close out of a position fast, it was going against me quickly. I accidentally added an position, and the result was an early -550 loss. I tried to do some stupid trades and upped the loss to -850 lol. I started to put blind faith in my system and double-downed on one of the trades and that made like 550. Finally slowly churned the account back up to -228 for the day, 28 trades total. I guess today is my blow up day for the week. I have one every week, I'm happy this week's is _luckily_ small compared to all the other days. Account is at $2,055.
Friday: Been on vacation again, trading on and off. Had a real bad day last week and lost 800, but gained a bit back this week. I think I can be profitable if I could eliminate the ridiculous undisciplined losses I incur, usually after a few days of wins. The account is at 1,584.
This is a weird journal. It actually reads like a perfect journal for what not to do. You should have stopped and hit the paper hard and proven yourself before messing around with real money to such a degree, but everyone learns in their own ways and at their own time. Good Luck.
I don't have the patience for paper-trading. I feel like I learn the most when I trade with my money.