Friday 29th Forex Trading Course Journal update
A forex trading course that only looks at charts and covers the how to trade is NOT the whole story. Your forex trading success is about YOU!. Its you that really matters here.
I urge you to maintain your Journals, contained within your journal (if maintained like I say in this video) will put gold into your pockets. You will be free to trade in all market conditions without the slightest feelings of fear or anxiety.
Is a trading journal easy to keep? Many traders struggle to MAINTAIN one. Ask the question, why is this so?” (and write your OWN answer in YOUR JOURNAL)
Catch up with you soon.
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Hi Martin,
This video’s a timely reminder for me. As you know I emailed you last week saying that I had had the worst week ever since using PAT. This was also the first week that i had traded full time (no coincidence there). I basically overtraded and forced the situation. i came unstuck and lost 130 pips. Not pretty.
Well I’d be lying if said I’d kept a journal during last weeks dreadful trading but I did make one entry. That basically stated how frustrated i was with being in losing position that week coupled with the ‘need’ to get some pips back. I had also written what I knew I was doing wrong.
As a result, this week i forced myself not to trade at all until Wednesday. I saw some great trades come and go and kept telling myself that another will be along soon. On wednesday I traded again and these are the results. I have kept a log of my feelings in my journal this week.
1. -12 pips. Wrong analysis but placed a tight stop. this made me feel in control even though I lost pips.
2. +20 pips. Got stopped out after I moved my stop but the entry was planned and set up.
3. +5 pips. Got stopped out after i moved stop. Felt jumpy on this one although my entry was planned and set up.
4.-24 pips. This was the worst of the week. i jumped in to a trade thinking it was going without me. This is exactly what I did time and time again last week. Same actions, same result.
5. +43 pips. Felt in control and had planned entry and exit points(didn’t want to be greedy and hold for the ninety)
6. +90 pips. Felt in control all day on this. Planned entry and stuck to the planned exit although the market kept going.
Net for the week +122 pips in three days. This is the potential of PAT and is testament to all of the teaching and support. I have to say that writing a journal has helped me highlight my repetitive mistakes both this week and last.
The challenge now is to keep writing the journal and get the consistency.
Have a great weekend.
thanks as ever.
Brett
Hi Brett
A lesson to all in your mail. I hope the contents are taken on board and the power of the journal is not ignored.