27th Trading

+10

26th Trading

+9
+9
Total +18

25th trading

-3
+10
Total = +7

LEVELS

If you are trading a level you trade at the level if price is not at the level you want to trade off you DO NOT pay up for taking the trade you have either missed the trade or you wait for it to return to the level...

GET IN AT THE POINT WHERE YOU WILL KNOW YOU ARE WRONG QUICKEST

Deliberate Practice

This is what I need to start utilising deliberate practice it is something I have thought about a lot but now thanks to Malcolm Gladwell I have a better way of quantifying it.  Right now the way I am constructing my TA is not the real problem it can get better but that is mainly screen time and practice the main issue is my Psychology.  I need to stop reading about new TA techniques and journals on TA that I will probably never use and focus on my key areas of development.  Which are:

• Defining my risk on the trade
• Sticking to the trade unless it moves outside of my risk parameters i.e. not closing the trade early to snatch at profits

21st June Trading

Been away and having to try and remove my natural bad habits again like closing trades too early for no reason with no indication that the trade is now invalid the only reason for closing is snatching at the small profits I do have.  Current trade closed for +3 but now would be sitting at +47 with virtually no pullback!

IF THE TRADE IS STILL VALID HOLD THE TRADE UNLESS IT GIVES YOU A CLEAR REASON THAT THE TRADE IS NOW INVALID

-5
+9
+5
-12
-12

Total = -15

Current thoughts 31st May 2012

The trading conditions have not been as obvious I am getting too complacent even though I am still not consistently profitable you almost get arrogant in the opinion of the market instead of looking at things objectively. Also it is imperative to have a holistic view on the situation at all times, I get an idea in my head and then it skews the entire thought process this is something I have read about many times. It can destroy an entire days trading you have to look at the market unfolding and read what is happening right now instead of sitting down and thinking it looks like this is going to happen then basing your entire thought process around that.