Bee Trader's Trading Journey

[beetrader]

Hi folks,

It's great to be part of this community, I joined sometime last year and have been pussy footing around giving one reason or another for not taking a dive into the pool. I love the Bill Williams methodology and the AIMS helped me to make sense of some of it. I also joined the Skype/Slack group last year but I didn't utilize the chance to grab some knowledge from the group. I am based in the Uk near Stansted.

Covid-19 has been a mixed blessing, I now have time to do some trading but it has reduced the number of my jobs on the market. Makes me wonder if I will be in the right mindset for trading. We also have less air pollution as fewer planes are now flying over-head.

I love Van Tharp books and philosophy and will try to fuse that with Bill Williams + AIMS.

Here is hoping that I will become a consistent and profitable trader. I am otherwise found blogging at https://beetrader.wordpress.com/

I have attached my trading business working document, I am still working on the 52 questions posted by Immy as well as going through the Van Tharp material in his Super Trader book. I am sure it is going to be a thick manual by the time I am learned enough with all the intricacies of the strategies and the market.

NB: I had to remove some images in the doc as the upload was complaining that my file was too big.

Next Steps: Update working document + 5 T20 batches

Regards
BD

[immy]

Hey BEETRADER

I remember this name... Lovely to see another journal ... Congratulations on taking this crucial step. Actually keeping a trading journal will allow you to create some content for your blog as well. You have my permission if you'd like to keep your journal on your blog as well. Just make sure you link us.

cheers
 

[beetrader]

I have started the T20 trades. Initially started on the M1 on the first trade but then switched to M5.
After sitting and watching the charts I think I am missing something on the setup 1. So I have decided to go back to Immy's videos and the Setup book to find what I missed.

When I resume shortly, I should be able to understand how to count the Elliot Waves (ungrounded assessments) as well as how to set the TZ1.

thanks Immy and crew for the humongous amount of materials that you have shared. I have also dipped back into the BW books and some of the stuff now makes sense.

[beetrader]

Here is my summary for my first batch of T20. These trades were all executed on the M5 chart.

Batches      1
No Of Trades    20
No of Winners    9
No of Losers   11
Ave. R Multiple   -0.3R
Ave. Lot Size   0.01
Ave. P/L ($)   0.00
Total P/L ($)   -0.08

In the first batch I have deliberately skipped the following:

• proper position sizing, my default was 0.01 lot
• TZ1 exiting

In this first batch it's been about learning about the market dynamics and find gaps in my understanding. I have also tried to understand how far I am from efficient trading.

I made 3 mistakes in batch 1

1. I did a duplicate entry by mistake. I closed the erroneous trade as soon as it was in the black
2. I set the wrong lot size, 0.07 instead of 0.01. I decided to let the trade run its course so I could observe my feelings and was stopped out causing me -1.1R loss. I wasn't pissed off with loss as I got to reinforce that I need to close erroneous trades.
3. I selected the wrong pair when setting up a trade using MT5 trade dialog box. I closed the trade pretty much straight away with a -0.2R loss

On to the next batch now. hopefully no mistakes this time around.

[immy]

First Batch completed!!! nice one... let's have a look...

[beetrader]

Hi,

I am re-reading Immy's 10s Elliot Wave book to get better understanding to then review my previous trades with better insight. Although I wasn't focusing on exits, from reading the book I have already spotted that I might have been placing trades into Wave 4.

I will start posting my trade pictures this coming week commencing 18.01.2021.

Cheers
BD

[beetrader]

 I have set a buy stop order for the USDCAD, looks like a setup 1 to me.

2021-01-27_16-26-49_USDCAD.jpg

 
 
 

[beetrader]

USDCAD pending trade invalidated by market movement, deleting pending order.

[immy]

Hi folks,

It's great to be part of this community, I joined sometime last year and have been pussy footing around giving one reason or another for not taking a dive into the pool. I love the Bill Williams methodology and the AIMS helped me to make sense of some of it. I also joined the Skype/Slack group last year but I didn't utilize the chance to grab some knowledge from the group. I am based in the Uk near Stansted.

Covid-19 has been a mixed blessing, I now have time to do some trading but it has reduced the number of my jobs on the market. Makes me wonder if I will be in the right mindset for trading. We also have less air pollution as fewer planes are now flying over-head.

I love Van Tharp books and philosophy and will try to fuse that with Bill Williams + AIMS.

Here is hoping that I will become a consistent and profitable trader. I am otherwise found blogging at https://beetrader.wordpress.com/

I have attached my trading business working document, I am still working on the 52 questions posted by Immy as well as going through the Van Tharp material in his Super Trader book. I am sure it is going to be a thick manual by the time I am learned enough with all the intricacies of the strategies and the market.

NB: I had to remove some images in the doc as the upload was complaining that my file was too big.

Next Steps: Update working document + 5 T20 batches

Regards
BD

 

Hello and Welcome to the world of "trading journals"

Read your first post with great interest. Enjoy what you have shared and I thank you for that. I read the "business document" and I loved it. You certainly have very good documentation skills. I loved it and learned something as well. 
I am excited that you have started your blog. I highly recommend everyone start their own blog. It's a fun activity especially if you enjoy recording and sharing. 

all the best 

cheers