Keiran's trading journal AKA 'Minimalist Trader'

Trading Discussion Trade Journals
1

Hey all!

Keiran here,

I’ve been trading for just over two weeks and have had positive results so far. I trade with a live account of which I started with £2000. I’ve started this journal to post my results from now on as and when they happen for all those people who are interested in following me.

My trading style is simple. I aim to gain a few pips every trading day to slowly compound and increase my account over time. I never risk anymore than 1% of my account on any 1 trade and always stick by trading rules and apply strategies, (everyone has their own strategies, whether researched or taught).

My main preferred strategy is pivot trading using the PP, R1&2 and S1&2 as levels of support and resistance, whilst also looking at the bigger picture i.e. timeframes and moving average lines before placing a trade.

Here are some guidelines I follow:

· Develop a plan of attack
· Be CONSISTENT at all times. Consistency equates to profit
· Enter a safe trade determined by strategy and risk management
· Build early foundations for crucial sustained % growth
· Never be too hasty
· Never ‘guess’ a trade. (This is gambling)
· Implement structure along with strategy and risk management
· Adhere to trading all rules
· Aim for quality not quantity – take least amount of trades
· TAKE a little – USE a little – MAKE a little (a consistent amount of times to compound)
· Look for opportunity – be safe and grab opportunity
· Never over analyse the market
· Learn to take hits and learn to handle hits
· Use Logic never emotion when trading
· Count losses as expenditure (just like business expenditure)
· Learn to loose and get back up again therefore adhering to consistency
· Adhere to the positive belief system
· Create and maintain a trading plan
· Always check the bigger picture (timeframes)

Stay tuned!

Keiran (Minimalist Trader)

2

54 pips taken just now going long on EUR/JPY, expected a rise after seeing the low-test bar once bounced off the 50EMA on the 60 minute chart.

54 pips.jpg700×394 48.1 KB

Keiran

3

Set and Forget trades:

A little anomaly I’ve found when coming to trading is that feeling to want to keep looking at the screen after a trade has been placed.

I’ve found myself doing this from time to time and then remembered the phrase ‘set and forget’.

It is definitely within our human nature to want to ‘will something’ to happen as we do it all the time. However, with trading this has absolutely no effect on a trade, so I’ve found that time is best spent doing something else that’s enjoyable or productive once trades have been placed.

‘Willing’ the market to move in a certain direction is energy wasted, as the market has no conscious understanding as to what you want. It simply moves and an individuals ‘will’ does not change it.

As a minimalist I like to not clutter up my day with any non-productive activities. Time is precious and should be utilised in the best possible way, whether you’re a worker enjoying days off, or a trader enjoying the time in between trades.

What I’ve found helpful is once a trade is placed, leave the computer until you’ve been stopped out or target hit and then analyse the trade after being notified of this. Many hours can be wasted staring at a screen, which at the time has no effect on your trades, so set and forget is a good tactic which has helped me.

:Set and forget is a [I][/I][B]logical[/B] approach – starring at a screen willing it to happen is [I][/I][B]emotion[/B].