2016-09-09 Summary Daily P&L: -2.75 (2 trades, 1 loser, 1 winner) Unfortunately I need to call it quits early due to a work conference shortly. Trade Summary Trade 1: Saw the weakness in the market this morning, and I thought the market would sell off and continue to flag downwards. I was right on the call, however was early with my entry as the market was range bound for a bit before selling off. More patience / higher entry price would have made this a profitable trade. Trade 2: Market was range bound for a bit as I mentioned in my post, and as I saw the market inch downwards below the bottom range, I had a feeling the sell off would continue. Could have entered at a better price 4750, and also exited at a much better price.. however that's how it goes sometimes! You risk missing the move and exit if you're too aggressive with your pricing! I will start numbering my trades going forward so it'll be easier to identify.
I take trades as I see fit when the charts indicate (technical analysis). I elaborate at the end of day on my trade summary. Care to elaborate what you're referring to as "plan"?
Trading Plans for most of use have defined rules, so you can back test, whereas yours being vague, can't backtest vague. Do wish you luck.
It appears that he is looking for more details on the methods you are using. in other words give up your keys to your castle.
Thank you. I do have a detailed list that outlines certain rules that I try to adhere to on a daily basis, however the purpose of this journal is to simply work on trend recognition and execution. I'm simply using this journal so there's no bias on my part as to what I would have done in "real-time". I'm not looking to detail my plan / rules, but I welcome any criticism as to why I would take certain trades at certain times and at certain prices.