I am a 10 month old trader. I've been struggling with my trading skills lately, so I recently started keeping a trading journal and realized that I don't have much of a basis for my entries. What should I do to overcome this?
hi qwB... a couple of questions... are you daytrading do you trade futures if you trade futures, then which ones do you trade thanks toucan
Good Morning qwB, Well, here is a good tip : Don't take trading advice from Losing Traders like myself. Other than that, throw that trading journal away, it doesn't help. Full Disclaimer : I am currently a Losing Trader so far of about -$1,100 on the fiscal year of 2023. Let's see how the next 2 months go. My comments are not worth a penny with a hole in it because I am losing trader right now
You must outgrow your lack of competence. The first element to being consistent, is being consistent in a trading approach. An approach that follows effective market analysis that gives you an idea where the market is going directionally, and that helps you stay in sync with the AI-driven algorithms that's driving price. Growth in essential knowledge is a necessity and starts with trading education. All of which is an invaluable foundation and framework for trading plan development. The trading game is a transfer of wealth from the uninformed to the informed who've learned how to capitalize their knowledge of institutional order flow, market imbalance, risk management, etc etc. RULE #1 Stay away from gamblers (the uninformed) RULE#2 Learn everything (leave no stone unturned) RULE#3 Find and follow a competent trading Mentor To your trading success.