my journal 2

50% good trades but better performance because I used stoplosses.

Ok, no rules. Allowing any number of trades on any number of stocks.

Main objectives:
1) I will come here and report every 10 trades
2) I will try to achieve profitability on every single series of 10 trades

Not good... got bored and frustrated and... screwed up really badly, practically every trade.



Ok, adding one healthy restriction: all my trades will last 1 week, whether profitable or not.

I will observe the charts for 4 years of history and only make a prediction on the next week. Open trade, click one week ahead, close trade. That's all. This will force me to use a stoploss, and a takeprofit. I will only step in when I am confident that I'm able to predict the next week. It seems easy, and if it is, so what? All i need to learn one profitable way of trading. One way of trading that I am positive I can make money with. That's all I need. I don't need to try and do it the hard way.

So, from here on, it will be 10 one-week trades (on the weekly charts) and I will be reporting all the results I get, whether good or bad.

Wait... more things that might help me: since stocks go up more than down, I will just go LONG.

Other than this, I'll see what rules I'll follow, and I will write them down if they work.

If I still cannot manage to be profitable with these 10 one-week trades LONG-only, then it will take me practice, and if I still cannot get profitable with practice, I will have to start doing the opposite of what I do.

Well, sucked, but... profitable. Let's look on the bright side.

Kept on trying to pick the bottom, that never came. Lost 30% of capital with 11 1-week trades.

Ok, one week trades totally suck because the weeks go up and down, and I always end up starting on the wrong week. So I'll do 2 weeks at a time from here on.

I got so addicted to the last chart that I kept on trading and ended up with 13 trades rather than just 10.

This is my first really good series. Made 60%, and a minority of profitable trades. I was bottom picking as usual. I think the best situation (for these LONG-only trades lasting 2-weeks) is a hammer on support.

That sucked. Still bottom picking, even though I still don't think it's bad. I feel that sooner or later I'll figure this out.