Start a Trading Journal - Start Posting Your T20 Trades Here.
Tips for First Post: Start with personal introduction, share your story, your future plans.
Use Template Prodvided for Recording Trades.
fxsam wrote: 02 Sep 2022, 08:32
My daily checks database is growing. Incase anyone wondering, i am not posting same image everyday.
Looks very nice. This is top organisation. Turns out trading success has a lot to do with "admin" work. Discipline, also includes, creating and keeping a PROCESS. I like to print it and tick those boxes because that works for me.
If at all possible. do share the template...
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
fxsam wrote: 02 Sep 2022, 08:32
My daily checks database is growing. Incase anyone wondering, i am not posting same image everyday.
Looks very nice. This is top organisation. Turns out trading success has a lot to do with "admin" work. Discipline, also includes, creating and keeping a PROCESS. I like to print it and tick those boxes because that works for me.
If at all possible. do share the template...
Thank you. I am using an app called NOTION. You can use it via desktop app, web or mobile App. It comes with lot of templates. The beauty of this is, it's not simple note taking app like Evernote, Google note or OneNote. You can use to create different content such as Journals, CheckLists, Blogs, Static web pages, Databases etc.
What you see above is my database for daily Check List Diary. I have created attached template as per my routine and trading rituals. All i need to do every day is hit that New button, which will then create new page with pre-populated fields. I just go through that page and it keeps creating entries in database. You can also create different views to filter data to your specific need. I am using free Notion.
Journaling in Notion is fun as you can share with others and has comment section. I haven't gone that far yet as i would like to maintain within AIMS Forum.
Anyways, thanks for asking. I am attaching template i build in PDF format. For those table fields you have an option to create various fields like text box, multiple choice, date picker, URL etc. I have attached screenshot. hit me up if any questions
fxsam wrote: 02 Sep 2022, 08:32
My daily checks database is growing. Incase anyone wondering, i am not posting same image everyday.
Looks very nice. This is top organisation. Turns out trading success has a lot to do with "admin" work. Discipline, also includes, creating and keeping a PROCESS. I like to print it and tick those boxes because that works for me.
If at all possible. do share the template...
Thank you. I am using an app called NOTION. You can use it via desktop app, web or mobile App. It comes with lot of templates. The beauty of this is, it's not simple note taking app like Evernote, Google note or OneNote. You can use to create different content such as Journals, CheckLists, Blogs, Static web pages, Databases etc.
What you see above is my database for daily Check List Diary. I have created attached template as per my routine and trading rituals. All i need to do every day is hit that New button, which will then create new page with pre-populated fields. I just go through that page and it keeps creating entries in database. You can also create different views to filter data to your specific need. I am using free Notion.
Journaling in Notion is fun as you can share with others and has comment section. I haven't gone that far yet as i would like to maintain within AIMS Forum.
Anyways, thanks for asking. I am attaching template i build in PDF format. For those table fields you have an option to create various fields like text box, multiple choice, date picker, URL etc. I have attached screenshot. hit me up if any questions
Hi Sam, thanks for sharing this. People have developed amazing apps/websites these days. the power of javascript, python and html5 is changing the web for good.
I love the tactile feel of paper but becomes close to impossible when travelling or when working off someone else's living room lol... This will help. I just never found a good solution. Creating a new google sheet ever day was not fun. I will give this a try as well. Having said that, I have used Microsoft OneNote for years. IT's really good.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
fxsam wrote: 11 Sep 2022, 02:22
Last week was quiet. As you guys are might be aware i was approaching challenge time and was around -0.5% in drawdown. UJ shown downside move after constant up move for many months. I have managed to grab pullback on M15. yes it wasn't h1 and not part of my plan but looking at the time remaining in challenge, i wanted to push for break even and get retake.
Trade hit 3R and i am 2% up now. Thanks @imi for your suggestion. I will be looking for one trade this week with 1.5% and look for 4R. Going for challenge target 8% see if i can find that trade. If i lose, i will be at break even and will not take any trade.
Very Good Plan. That is how it's done. Play according to the situation. Not sure if M15 trading will help, but the step you've taken has obviously come with the reward. Now you're in a strong position. But don't make this a habit and also note that had you taken the H1 signal, it also would have given you 3R.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
fxsam wrote: 13 Sep 2022, 09:28
So EU was in tight range during Asian Session after strong move yesterday. Price was hovering around EMAs. I got trapped into breakout trade mindset and attempted this breakout trade. Closed it before it hit SL but was -1.1% so my chance to finish phase1 pretty much gone now. I am still 1% up so will sit out for next few days and start retake. I went with 1.5% on this. Should have waited for better trade.
You my friend, DO NOT HAVE DISCIPLINE.
That is your BIG problem. You've NEVER fixed it. And if you don't fix it, you will NEVER keep the profits that you will ever make.
Read the above. Take a break and think really deep.
What is it that gives you the edge in the market? Is it this trade? is it this setup?
Why were you not able to control your urges and impulses?
KEEP A discipline Score.... That is VERY VERY important... that way you will stick to the plan. If you take a trade and it results in brining your Discipline score down... then you know that you've taken the wrong path.
ps: Why do you think I took the box off? Because I don't trade off the box... I already know that a banana signal is a Box breakout on a certain lower time frame.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
fxsam wrote: 13 Sep 2022, 23:07
Good point. Thanks @imi for your feedback.
So i have received an extension based on my performance. Another 4 weeks to achieve target.
EXTENSION BEGIN
Now when you take a 1% trade, go for a 7R target but not if your stop loss is more than 20 pips. If you catch a 10-15 pips SL on EU GU UJ , go for the full monty, hit the target in one trade.
for DAX its 50, same for NAS an 100 for US30.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
fxsam wrote: 28 Sep 2022, 00:43Reflection on failure to win first challenge
After receiving extension i was very hopeful completing challenge with first attempt. Needless to say, that did not happen.
Last week i missed out GU trade which was obvious looking setup. Seeing missed opportunities like this on h1 is really painful.
On Friday, my account was 0.20%+ so i have decided to remain more focus on next week.
On Monday, during Asian session EU dropped significantly followed by retracement. Volatility was at its peak, probably best i have seen in last few years. i was watching h1 retracement and dropped to M5 (first and major mistake) hoping for price to come back to EMAs and continue going down from there. Well that's when i started taking series of trades on M5 (Stupid me) and collected few rents. I haven't even realised there was no objectivity in my thinking and mind was constantly taking rash decisions.
Equity curve slowly started going below zero. Worst came around LO when EU created trend bar on h1, by that time i knew it's reversal.
EU M5 produced waltz setup that immy also called out in chatroom. I broke my rule and went with 1.5% on two trades and both of those setups failed. Actually during second trade they automatically closed out my trades because i had violated daily 5% drawdown limit including PROFIT.
It's painful but i am not depressed or neither have i lost hope. I knew i had 18 days left and SHOULD NOT have lost patience in a first place. It was matter of one or two trades. Patience is virtue hence not many people are successful at trading. Patience, discipline and emotion managements are core skillsets one needs to develop to become successful.
What's Next ?
I haven't lost hope yet and I WILL NOT GIVE UP. This was a fantastic experience that has helped me becoming better trader than what i was 5 months ago. Highlight of this challenge was i managed to get extension by staying in positive territory during the difficult month of Aug with low volatility. Lowlight was Monday's 2 hours trading where i lost patience and broke rules. Lots of learning lessons and most important one was STICK to H1. H1 indeed is the best time frame and future proof as it has its own benefits. As immy highlighted in that great thread higher-timeframe required 20% of trader's performance and one can catch big moves as emotion management becomes way easier than m5 or m15.
I have already purchased new 200K challenge and had setup MT4 so ready for second attempt.
Thank you for sharing that.
The pressured environment with being in a challenge really highlights ones flaws.
With a bit of discipline, nothing is impossible
Don't let the fear of losing keep you from winning
As you know, I have studied you, probably more than myself and I have highlighted your Achilles heel to you years and years ago. It is RISK MANAGEMENT.
Everyone has 1 or two fundamental trading flaws in their process, their habits and their personality. All of these are fixable apart from degenerate gamblers who can't be helped. The only way for them to stay safe is to stay AWAY.
Your problem has always been RISK MANAGEMENT. Your perception of risk is flawed. You ignore it, greed and excitement takes over and you completely ignore the risk. In the past, you were trading your own money and you would say, "who cares, Its my money,". Now you know that even if its your money, its a BAD approach. Because the LAW of Probability will catch on to you. If you are not careful about Risk, you will eventually ruin your account, no matter how much profit you make.
These challenges, have taught what professionals have learned through hard work. The prop firms don't come up with these rules simply to "make it hard" or to "taunt" their traders. It's not a punishment.
But rather because that is THE ONLY way to do it. You can't be lenient about risk. These rules are a REQUIREMENT , not by choice. Without Risk management rules, banks will go bankrupt, business will go bankrupt.
Onward and Forward we go. NEXT challenge... This time, patience, and discipline.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
fxsam wrote: 10 Oct 2022, 06:47
First trade on new challenge account while i was in Gold Coast last week. Signal was big but ATR was 30 pips. My entry was bit late. I left it with ATM Fractal trail. Nice start with +1.22%
small wins add up too, to win you the challenge!
good to see you're back at it