Showing posts with label log. Show all posts
Showing posts with label log. Show all posts

Confessions of keeping a Trading Journal

Hi,

I just realized that today on 6th of August 2013 it has been 365 days of keeping this trading journal of mine.

So today is the first Happy Anniversary of my blog!!

I had been so engrossed in reporting all that I do with my trading account that I just failed to recognize that it has been one full year in maintaining this habit of mine.

I must say that since the time I started being regular here, my trading profits have increased simultaneously, actually with the same rate with which I update here.

I am not joking, seriously. When I actually started trading 2 years back, I had no idea that one had to keep a diary log of their trading activities. Then after 6 months of losing money, I did some research on how to en-cash some winning pips and found out that of all things, maintaining a log book of daily trading activities is one key ingredient of the recipe to success.

As any novice trader would know, I did not pay much heed to that piece of knowledge. But after an year when I lost most of what I had in my savings, I just happened to start this blog. I do admit that a year before it was done more as a formality than as a habit or a dire need.

I laugh while writing the last statement. Wish I had taken it well seriously then itself; needless to mention I then would have made more profits in the last 365 days.

Well well, better to be late than never ever. I am glad that with the beginning of this year I took a vow to start mentioning in my blog whatever I do with my currency trading account.

I am happy that I stuck with my decision and here I am creating winning pips all the time and gaining a minimum of 500 pips in a month's time.


If anyone ever tracks my winning ratio, it has always bettered up in direct proportion to my timely update of this blog.


From 40% returns in January to 100% in the previous months, I am just getting better and better. TOUCHWOOD.

In any case, I strongly recommend maintaining a journal for anyone who is really serious on making currency trading a full time earning cash mechanism in his/her life.

P.S:  I am just attaching a link to my first post on this blog. Today that first post seems so vintage, LOL

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First day of keeping a journal, Monday August 6, 2012

Hi Journal,

This is the very first day of our acquaintance with each other. I will be updating you on every trading day. Since today happens to be a Monday, the first trading day of the week, therefore I refrain from making any trading today. I will be actively trading from tomorrow.

Although looking at the long time frame charts, the EUR/USD pair seems to be in a sinking mood. Though do not know if the market will continue its sinking mode all the week. Therefore, I closed my short deal trailing from the last week with a 11$ profit. For the rest, we can only wait and watch till tomorrow.

To be on a safer side, I have put in limit orders for the pair, which are good till the end of the trading day. Also, as my usual habit, I have put in 2 limit  long orders for both of my favourite commodity currency pairs, Gold and Silver.

My limit orders are as follows:

1. EUR/USD : Long at 1.2199 with stop loss 1.2159 and take profit at 1.2319
1. EUR/USD : Long at 1.2259 with stop loss 1.2219 and take profit at 1.2379
2. XAU/USD : Long at 1588.6 with stop loss 1583.6 and take profit at 1603.6
3. XAU/USD : Long at 1578.6 with stop loss 1573.6and take profit at 1593.6
4. XAG/USD : Long at 27.50 and 27.20 and take profit at 30.0 and a stop loss as per your margin capacity

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