A fresh start! Doji's Trading Journal

[dojirock]

Forum is quiet this week. Hit my daily goal.

[dojirock]

After my 1st week I am very excited about the changes. I still have hung on to
some old habbits but caught myself and forced myself to walk away.
I had no losses until today, I met my daily goal at London open and decided to go for more.
I reached 72 pips and NFP came out and I had my 1st 3 losers which put me back at my 20 pips
which was my daily goal. I forced myself to call it a day, no sense in self sabbatoging my whole
week. Starting with these small lots and a scheduled time frame is forcing me to have patience
and endure for the long haul. I have already thought about accelerating my lot schedule, but wont.
That is where I will get into trouble!! Greed?
Some of the positives are I ended a week with a higher percentage successrate--because I didn?t overtrade
I kept 70 percent of what I made-- because I didn?t overtrade
I spent 2/3 less time on the computer--makes the wife happy
I actually got some sleep--
After seeing my 1st week, im hoping I wont have another empty promise to myself and family that in 6 months
that it will be worth it--

Dojirock

[dchappy]

Great start !!!!!! Stick to the plan ...This is exactly the way I grew my account ......

[dojirock]

After a couple of PM's I started thinking about how I choose my bias. This is one thing I feel I can do rather well. My fault falls on not following the bias. I always seem to try to predict where the bottom or top is while trading higher time frames. That was very evident when I lost the 159 pips 2 weeks ago. Its another emotion that needs to be conquered. When scalping it seems I do follow the bias even thought I dont look at it. As for when the bias direction ends, I dont know that, no one can lpredict that. If we could we would all be rich. I get asked how come I can scalp but cant trade longer time frames? Well in big part, emotions. Anyways the purpose of this post is to help myself and some of my friends pick and draw a bias. By documenting over and over it becomes a habit. Once it is established, scalp away. 20 pips as a daily goal is simple. It all comes down to discipline and this just further supports that. I do draw bias lines, i just forget to use them. When one gets tired of dicking around and losing, they get serious and start making a plan. A plan will make all the difference. (Thanks DC) look how many scalp pips there are between lines. More than enough.

dojirock

[dojirock]

30 min

[prochargedmopar]

After a couple of PM's I started thinking about how I choose my bias. This is one thing I feel I can do rather well. My fault falls on not following the bias. I always seem to try to predict where the bottom or top is while trading higher time frames. That was very evident when I lost the 159 pips 2 weeks ago. Its another emotion that needs to be conquered. When scalping it seems I do follow the bias even thought I dont look at it. As for when the bias direction ends, I dont know that, no one can lpredict that. If we could we would all be rich. I get asked how come I can scalp but cant trade longer time frames? Well in big part, emotions. Anyways the purpose of this post is to help myself and some of my friends pick and draw a bias. By documenting over and over it becomes a habit. Once it is established, scalp away. 20 pips as a daily goal is simple. It all comes down to discipline and this just further supports that. I do draw bias lines, i just forget to use them. When one gets tired of dicking around and losing, they get serious and start making a plan. A plan will make all the difference. (Thanks DC) look how many scalp pips there are between lines. More than enough.

dojirock

Stop lying to yourself, a plan will not help you.
Losing 152 pips as a scalper, (when daily goal is 20???) been there done that...LOL
Discipline is an Illusion.
You do not "Just forget to use them", they disappear for a reason. FIND THE REASON TO FIND SUCCESS.
You try to pick tops/bottoms because you are fearful.

When you KNOW in your heart that your winners will be MUCH bigger than your losers then this will ALL DISAPPEAR.

[dojirock]

We will see pro, I need to prove this to myself, you may be right you may be wrong, but I dont want to be second guessing my self 6 months from now.
Clarification, the 159 pips lost was trying to trade on higher time frames, which I cant due to fear, your right. Alot of my fear comes from only having a 30 percent successrate on longer time trades, I cannot stand to wait out the drawdowns and have accustomed to taking 5 to 40 pips. My loses are bigger than my profits, agreed. Scalping I have a little fear my 1st trade, from there, virtually no fear, because im trading with profits. Friday was a great example. I lost 52 of my 72 pips, but who cares, I hit my 20 goal already...I wasnt giving that back.

What I am curious from you post in your thread is putting my excess pips over 20 and making my leverage with them, which is purely profit to have some massive gains. When I lose, stop. But you say high success rate doesnt matter? I disagree there, it does on my emotions, because it gives one confidence and there is nothing better for my emotions than seeing 20-30 trades with 1 or 2 losses.

Nice post on your thread, thanks for that. I need some more time to put some thought into what your trying to convey.

dojirock

[dojirock]

current trades, should quit for day already! No Stress...

Dojirock

[dojirock]

Well now that I think I understand the Space concept.. and am going to apply it to my mm to test it.

It seems after yesterday, I think I have found a way to transition from scalping to the 15 and 30 min time frame also. Minor differences, but alot easier to explain what im doing. Doesnt feel as much like a "feeling" when it does scalping. Opened a seperate account to do this, I need to build some to gain some space but shouldnt take long.

dojrock

[dojirock]

Dont give me grief about the squigglies....lol
They helped me get to this point and are temporary!

dojrock