Brent's Journey to success Journal

Discussion in 'Journals' started by bigbrent701, Jul 17, 2006.

  1. Today i worked on the outline of my trading plan and began answering some of the fundamental questions that make up my trading plan. Here is a list of my trading plan elements that I am using. Note that this is only a partial list and is not exaustive.

    Yourself & Purpose
    Trading Goals
    Markets and Timeframe
    Tools of the trade
    Pre Market
    Risk Management
    Strategy and Entry
    Post Market

    I would like to thank Tim Wilcox from the T2W forums for providing me with the template for my trading plan. I would also like to thank Dr. Van K Tharp for his template in his book Financial Freedom Through Electronic Day Trading.

    What i found when i started answering these questions is a lot of them are yet to be determined. Since i do not have live quotes yet for the market I will be trading it leaves a lot of blanks in my trading plan but i worked on what i could. I feel not having quotes yet is actually beneficial because it allows me to work on my trading plan in areas that most people often neglect.
    #11     Aug 14, 2006
  2. nkhoi

    nkhoi Moderator

    ..and what market is that?
    #12     Aug 14, 2006
  3. The ES for now. I am focusing only on the ES for now.
    #13     Aug 14, 2006
  4. nkhoi

    nkhoi Moderator

    did you turn on your PM box
    #14     Aug 14, 2006
  5. My PMs should be on. PLease tell me how to.
    #15     Aug 14, 2006
  6. nkhoi

    nkhoi Moderator

    the live quote link should be in your mail box
    #16     Aug 14, 2006
  7. Yes I have seen this before but im not against paying the money for Market Delta and IQ feed. Im not cutting corners
    #17     Aug 14, 2006
  8. So I signed up for DTN and Market Delta tonight, the fun starts on monday. Cant wait to find out just where i stand. Made sound progresss on the business and trading plan in the past few days. Going to piece it all together over the next couple weeks. I found that a lot of questions i was unable to answer because im not even paper trading yet, kinda hard w/o software to do that but thats ok i did what i could do.

    So monday is the big day for me! Im excited. I get to practice all next week before school starts. Once school starts I will only be trading the close but this first week serves as a jump start into trading.
    #18     Aug 16, 2006
  9. So i got everything squared away with market delta and IQfeed. So far i am very pleased with everything. Today i learned the value of why its important to have more than 1 screen and preferably yoru monitor being a 21". I have a single 19" monitor running at 1280X1024. Getting dual 21" monitors is definitely a goal ide like to achieve in my first year.
    #19     Aug 17, 2006
  10. Last night I finished my trading plan questions worksheet. I was able to answer almost every question to some degree and the others will be able to be answered once i start paper trading. Going to work on the business side of my trading plan this weekend and next week try to put them both together.

    This week should be very exciting and really give me a better idea where i stand in terms of how far it may be before i go live.
    #20     Aug 19, 2006