The purpose of this journal: To help myself to become consistently profitable through "public" scrutiny and accountability. Instrument traded: Crude Light. Trading hours: I am in Europe, so I will trade both London and New York hours. Methodology: Discretionary scalping and intraday swing trading using price action flavoured with few MA's and trend lines. About myself: I have been trading for a while now. I don't want to mention how long I have been struggling with inconsistency. You would think I am insane or hopeless. Either I should have given up or turned the corner already. But I did not. This journal is my final attempt to become consistent. Basic assumption: My system works and has an edge. This assumption is based on manual back and forward testing, and occasional live winning streaks lasting 1-3 weeks. The main problem: Lack of discipline originating from my fear of pain from losing. Manifestations of the main problem: - Not entering all signals. I always find reasons to avoid entering. And finally when I enter I have the cunning ability to cherry pick my systems losing trades. The other day I had some 15 signals, 5 losers and 10 winners, I handpicked the signals for entry and managed to pick 4 losers. - If I somehow finally enter a trade, I quit following my exit rules and exit early on most winners. I always take my stops though. - Rouge trades: trades not according to the plan, always out of frustration and revenge after mistakes. After entering a trade my state of mind changes abruptly. I am in the fight or flight state, and I become a completely different person. It is very interesting, I really take trading as a self discovery process. I always did, but never thought it will be so difficult. The premise: I hope that the fear of public humiliation and ridicule for not following my own rules and my own plan is bigger than the fear of pain from losing. Also, I might receive suggestions I have not thought of from fellow traders. I will find out doing this journal. Signals: I have 3 types of signal I have been trading. - type I: trend continuation signal - faster trends. - type II: trend continuation signal - deeper retraces. - type III: counter trend signal - If I expect deeper retrace I enter counter trend signals. ------------------------------------------- - type IV: experimental for larger swings. I hope that If I can follow my rules on my scalping trades, I can enter and hold for larger swings. Risk management: I hate when a trade goes much against me (who does not), so my signals evolved so the entries are such that the trades should not go against me more than 15 ticks. I guess one can do better than that. - risk per trade: currently risking 15 ticks max per trade - profit targets: 15-30 ticks at the moment - after 10 tick profit I move stop to break even - after 2 consecutive losses I will stop trading for the day How to improve discipline: By honestly posting my progress here. I believe discipline is like a muscle, it needs to be exercised, and it needs to penetrate all aspects of life. So for this final attempt, which I will not fail, I decided to register and prepare for a marathon as well which will be at the end of February to improve my discipline in my trading. I think consistent trading is like running a marathon. But how would I know? I have not done either one. I will post daily and weekly summary of trades and progress. Since I mostly scalp, I don't intend to post real-time trades. I will also post charts when I feel it is necessary. Other: I am rather an introvert person, and this âpublicâ journaling is not that easy for me, but I am at my wits end how to change myself, and hope this angle or approach will push me out of this long lasting self-sabotaging behaviour. In short: I have a trading plan, if a signal occurs I have to execute flawlessly. Only an accepted signal can get into my normal journal and statistics. Even if the entry was a mistake, I can only exit with my normal exit rules. If I mark the signal on my chart I have to enter it. It is that simple. Currently I mark all the signals on the chart but mostly enter the losers, and exit the winners early. I know I am the nth person and this is the nth journal with this type of problem on this forum, and I read many of them learning a lot from them. Journaling worked for some and it did not for others, I hope I will be in the first group. Your comments are welcome.