I can't quite believe it, but I've been trading for 3 years now with a prop firm. I've been primarily a scalper, with some intraday stock pairs trading and hedged overnight trades. I haven't blown out my account, but then again, if I had been one of the guys who showed up with >=25K and a dream, would have been back working for "the man" a long time ago. I am generally pretty good at grinding out a few hundred a day, really all I need to pay the bills, but then occasionally I will have an "occurrence" where I lose a week or more of earnings in one day. My primary weakness is one that plagues a lot of traders: I am quick to take my profits, and slow to take my losses. Another weakness has been my lack of a set of rules and disciplines to give my trading a theme. I am a discretionary trader that may be scalping a single stock for pennies today, trading stock pairs tomorrow, whatever catches my eye and looks promising. I am hoping that the maintenance of this journal will help me reevaluate my trading, and rid myself of some of my collected baggage; I will try to post my results daily and some general reflections on my trading day. As for my trading methodology, I will be following several sets of stocks in various industries. My entries will be chart-based, on an "index" comprised of the particular stocks in the industry group I am following. For me, the more things I try to watch, the less effective I become. I have three monitors devoted to charts and spreadsheets. I plan initially to watch 3 industry groups, one per monitor. I have set up 3 "index" charts. On each monitor there are 3 other charts, that will display the individual charts making up the "index". I plan to use a fairly simple moving average crossover system for my entries and exits. The entry signal will come from the index chart. I will then quickly scan each of the stock charts to determine which looks the most promising, seeking to rule out the choppier and/or misbehaving stocks. Once in a trade, my exit will be based on the price action of the individual stock. I will be stopping out on moving avg. crosses against me, and I will likely have some fixed amounts, based on volatility of the individual issues, that will constitute stops as well. My goal here is to hone in on the relative strength of several different sectors, and by using an amalgam of three correlated stocks in the same industry group, reduce the noise and act on an individual stock only when the price action of the group is similar. In terms of other indicators besides MA's, I don't really use much; the more stuff thats on the screen, the less I see. I realize there is nothing game-changing here. This isn't holy grail stuff. I merely seek a more rules-based approach to my trading; its funny, but after 3 years of full-time trading, there are days that, when I haven't made any $$ in the first hour or so of the day, I get this perplexed feeling, and think "now what do I do?" There are times when that answer can and should be "nothing". I've seen a lot of guys come and go, some with a bang and others with a whimper. The guys that left with a bang never stopped throwing roundhouses long enough to realize the impending disaster that awaited them. The guys that left with a whimper had taken too many shots and just got to the point where all they could do was cover up. They just stopped throwing punches altogether. Then they just disappeared. For better or for worse, I've always tried to keep my hands moving, keep learning, keep moving forward and keep a healthy respect for my adversary. I've just had a few too many of those days where I got smacked right in the face and then threw my whole plan out the window...just long enough to catch up, I'll follow the game plan once I get even. I really can't afford to do that anymore. Anyway, I'm kinda getting off topic here, sorry to come off so boring and preachy. As for this journal, I'll try to keep up with it on a daily basis. I have a trading log I keep in excel and also just started a handwritten log that I try to do as the trading day unfolds. My unfortunate tendency has been to quit posting in those logs after I take a big hit, I guess trying to forget what happened and move on. I will definitely try to keep it real here, and post the good and the bad. I need to get my ego out of my trading, and realize that its ok to be wrong, but that its not ok to be stubborn, just admit it and move on.