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  1. #1
    Rookie Member Barrief's Avatar

    My Diary and a search for discipline !!!

    Friday... I have to join the fraternity and open my diary here. It is not my intention to post every trade here... I do far too many. What I do intend doing is posting the trades I am proud of, and stating why, as well as the trades I am not proud of and stating why. This may well serve as a reminder to me, and a warning to anyone perusing my diary.

    Another topic I am keen to include which I think is just as important as the trades made is My self discipline and how it impacts my day, my trades and my balance..... I have a problem with this which I will share, One, I am pretty calm, self controlled as a rule, but when the lid blows, the lid blows and this has in the past had me trading like a 6 year old with a gambling habit!!

    So I will try to be open and Honest here, on all fronts. I also want to thank Okane for the great vids and the time he spends helping newbies like me, and Ronnel for taking me under His wing... Not to mention all the other pro's here who have given time to me in the Skype group.. THANKS

  2. #2
    Moderator Kolyo's Avatar
    Hey welcome to CommuniTraders Barrief,

    It is a great idea to start a diary, even with only few of your trades presented here it will help you a lot to achieve better results in trading. Wish you success and happy time here!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

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  4. #3
    Legendry Member Michael Hodges's Avatar
    yup, controlling the trading is one of the hardest things to do as a live trader. it takes time but you will eventually be able to chillax with it, and only trade when it's right to trade. being successful doesn't mean trading all the time, it means trading smart and trading at the right times.

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  6. #4
    Rookie Member Barrief's Avatar
    Indeed Michael, the frustration is, the head knows the heart needs to catch up

  7. #5
    Rookie Member Barrief's Avatar

    Day 1... Well Ish !!!

    OK not day 1 of trading live but day 1 of this diary....

    First, something about my "Strategy" I don't have one per se. When I first looked into BO I realised very quickly that indicators, and the strategies that use the follow the market, they lag behind, what I wanted was to predict the market, sure indicators show history and it gets repeated but if they worked as well as the usual you tubers would have you believe we would all be millionaires... So I wanted something else and I found BOTS

    Okane's vids on price action coaxed me in...hmn what is price action? what is support and resistance? well for me lets just say it was the dogs dangly bits... Looking ahead at the market based on the charts activities. Lets not forget the action we see is created by peoples behaviours and wether we like it or not people are creatures of habit, so we can predict certain patterns based on their previous behaviours... I like that.

    So I use S&R and candlestick counting... I have done away with stochastic as in trending situations I think it can be confusing and kill the "Trigger" moment... Well lets see what happens

    Well todays first trade is ITM and I am quite pleased with it:

    The price had bounced of my support lines a few times earlier in the day, the downtrend was fast but no heavy momentum, when it hit the support the first time I waited, the candle hesitated very nicely then kissed the support line which is when I entered the trade, , My expiry was about 2 minutes too long but the entry was sweet enough to give me plenty of leverage.

    Click image for larger version. 

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  8. #6
    Rookie Member Barrief's Avatar
    This trade was Dumbass! I waited for my trigger... Which came, a break through my trend line, but instead of opening the trade, I waited to see what was going to happen... for almost a whole candle, Lack of confidence I think it is called.. Any way, I should have simply waved it goodbye and waited for the next ride..

    Click image for larger version. 

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