The time has arrived and I've established a Journal for my own trading.
First a little about myself. I am 24 (man ) from Australia sorry I am not a sexy female trader from Australia who trades in a bikini Anyway I've just been studying forex for approximately 8 or 9 weeks but might as well just say its been a year. I came across the J16 manners probably 3 or 4 months before, and prior to that did the whole indior matter but I figure its almost a necessity to return this path as I believe you understand exactly what everything is about and then decide to ditch it afterwards. (which I did )
I really like price action and blank charts and that I really like the j16 method of trading. I wouldnt have it any other way. I did open up a live forex account a while back and traded a little account. I dropped $50 and felt terrible due to how my feelings just got totally out of control. It was incredible the amount of stupid absurd things I did when I had a losing trade, such as fall down to 5 minutes interval and trade any old approach to try make my reduction back ( obviously I dropped more ) You all know what I am talking about and it SUCKS!! Worse factor in my life to encounter. Never felt so out of control! I learnt a lot going through this. Its nothing compared to what Jim dropped and many others but hey I believed it in my way! Even lost sleep over it. dam!
I used to be a noob back thenI am. I'm grateful I had enough brains to leave live trading until I dropped it all and spend more time on eduion and loing James16 to better myself as a trader! .
The reason I am starting this diary is I am sick of screwing around online demo. I've restarted my demo account that lots of times due to a number of reasons.
A couple of them being taking transactions that DONT agree with J16's minimal requirements. Like taking touch transactions, going to reduce time frames and all that and sometimes getting burnt. I wouldn't have the balls to do them live yet so why should I do them Demo.
I only want to put together month after month of after the daily and weekly chart and adhering to a set of rules and not taking trades I wouldn't take if I was trading live! I want to have up to date information of what I would be like if I was trading reside. It's totally inaccurate what I've been doing lately and it really annoys and frues the hell out of me. I guess these last few months are me trying to put that into practice but still dring away into other methods versus sticking with one sole technique. How are you ever suppose to own anything if you're constantly dring away to another method. Its just counter productive in my view.
I am one of those people though who readily drifts methods when I see somebody post up how that they trade, like some of the more seasoned members on j16. I get sidetracked on what they're doing as it sounds so easy looking in their charts, when I must just concentrate on what I am trying to achieve! I guess I want it all now and I don't want to wait. I want to be great NOW, I wish to take all these mad touch transactions the guys take in j16 but it doesn't work like that so I am working towards the significant end picture. One step at a time.
If it's good enough for Jim it is MORE than good enough for me!
I currently find myself every wkend studying through jims posts to try and regain direction after I just confuse myself and lose concentration of what I am doing during the week lol! I shouldn't have to do this as I am focused and find inspiration via jims posts every time I read them! Hopefully following the weeks go by I ought to be able to just stick to a game plan and just do it.
I need to have a very simple trading plan. Like really simple. I am the kind of person who analyzes everything 1 billion times over and changes his mind every 2 seconds. It kinda annoys me! My egy going forward is this
Play just pin pubs and outside bars on daily, weekly interval at obvious swing high and swing lows.
Nothing complied, just await them!
My goal is to demo this for a few months. Maintain working my part time job to spend less and maybe in a year or so fund my live account with a decent capital base for a 24 year-old!
Thanks for reading I will be updating this all of the time together with charts!
Oh yeh and I am aware that there are a million newspapers on here but that I just created this for myself but am more than happy if you want to follow