bd's journal.

brutusdog · Sep 9, 2007

have decided to start a journal.

i trade the dow for approx 3 hours per day with a daily pip target between 10 - 20 points.

i trade mainly off 1min charts.

i have a good system / way of trading with a positive expectancy that i am comfortable with, but am lacking discipline and am going to improve it.

i will be using this journal as a place to document my trades and the reasons for making them.

below are a fridays charts. i made one trade for +14. [ long taken @ 2 mins to 6]

any profits losses will be in point form and net of spreads/costs.

i hope you find something of interest here and all comments good or bad very welcome please

cheers bd.

brutusdog · Sep 10, 2007

one trade so far today.

short dow cash 13080

ok, chart attached.

took +15 from that early exit as usual but will not complain about + trades

also i have added an exit criteria that i will hold until on my next trade. i have been a little vague about this but after looking into it and following this as a possible exit and stop loss i will implement it from now on.

Dinos · Sep 10, 2007

Well done BD, will read with interest. Good luck

brutusdog · Sep 11, 2007

Dinos said:
Well done BD, will read with interest. Good luck

thanks dinos,

as always value your input / ideas.

2 trades for me today.

first was on ftse, had a bit of time in the morning and snatched at the trade really. new i would be short on time later...anyway was +10 which was good enough should have taken it but wasnt decisive and wanted to hold till my exit condition was met so ended up -5.

had 1 trade on the dow for + 10 will post chart tomorrow.

+5 for the day. system / method is fine its just me who can improve

brutusdog · Sep 13, 2007

important day yesterday!

lots to learn from it.

started -15. shorted late on a round number first touch....silly lapse of concentration. in hindsight i was just looking to get into a trade and snatched at the first possibility as i mist a good opp previously.

made +10 on next trade then another +10 on the next trade that i exited early.

thought ok enough should stop but was aware of the points i left on the table in the last trade. so then lost -15 and then another +10 after that.

very rare for me to over trade and not something that will happen again soon.

so -5 for the day, not too bothered about that as it was worth learning the lesson.

happy trading.

Dinos · Sep 13, 2007

Trading isn't easy BD as we all know, those who think otherwise are fooling themselves imo, if it was, we would all be millionaires.

The temptation is always there to trade, and discipline is key and we all probably lack it at times. Classic for me today, was trading the DAX this am, scalping a few points here and there, had I discipline to see the through the fog, I would have stayed in my long position for quite a few points (hey-hum)!!

Thought I'd wait for the DOW, traded off the 10 min chart, macd, crossover, stochs etc all said short, I took a position, the indicators went down the price went up out -10.

Win some, lose some, so long as the ratio is in my favour.

I'll PM you some details regarding the other thing you pm'd the other day.

good luck

brutusdog · Sep 13, 2007

Dinos said:
Trading isn't easy BD as we all know, those who think otherwise are fooling themselves imo, if it was, we would all be millionaires.

The temptation is always there to trade, and discipline is key and we all probably lack it at times. Classic for me today, was trading the DAX this am, scalping a few points here and there, had I discipline to see the through the fog, I would have stayed in my long position for quite a few points (hey-hum)!!

Thought I'd wait for the DOW, traded off the 10 min chart, macd, crossover, stochs etc all said short, I took a position, the indicators went down the price went up out -10.

Win some, lose some, so long as the ratio is in my favour.

I'll PM you some details regarding the other thing you pm'd the other day.

good luck

Thanks Dinos,

guess its good to have days like that to remind us of the reasons we do it and what the priorities are.

anyway got +20 today from 1 trade on the dow and a bit from the ftse (not sure will have to check) so targets exceeded and zen achieved will post charts later.

happy trading.

brutusdog · Sep 16, 2007

fridays action

quick up date on fridays trades.

in essance ended the day +13.

should have been more but as i clicked to close a trade at +10 around 7 pm on the dow the platform crashed and had to wait 5 mins before getting a dealer on the phone and had to close a - 3. just the way it go's unfortunalty but if it happens again will start to think about other options.

more trades than i would like to have made. feel i slightly overtraded also need to set initial stops closer. will implement on monday and move on. also getting to grips with the ftse and not just the dow...if i have the time in the day.

week total + 47 points / pips.

happy trading this week.

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