Newbie learning the importance of a trading plan and trading journal

Hey guys

I’ve created a rough rough draft of my trading plan/goals/rules and finally started to keep a journal.

Hands down, I have learned so much about myself reviewing my trade journal. The mistakes I’ve made, continuously, is the most frustrating thing I’ve ever had to for self-improvement. Should have started it 4-5 months ago, but at least I’ve got it now.

Moreover, the journal helps shape my overall trading plan and goals. Is a 15 % ROI in my first 12 months actually feasible? Am I learning the right tools to improve my trades? Is my style of trading going to help me obtain my 10 year goal? My trade journal has really helped shed some light on these items.

I am now fairly confident that in 15 years I will not be a billionaire living in a penthouse. Crossed that off my 15 year goal and replaced it with something different. "Allow investments to make a livable wage to help gain financial independence. This will allow me to work less hours (at real job) and spend more time doing things I like to do. "

Maybe that’s still not a feasible 15 year goal, but I have my trusty trading journal to help me make obtainable goals that are measurable,

Just another note in 3-6 months I want to make my first actual FOREX trade, until then I’ll keep learning what I can.

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You’re on the right path. 15% annual is pretty ambitious for any trader. I prefer to set lower goals, like 6%, which when compounded will double my account annually. If I do better, great, If I don’t, then that’s fine too. I have a 5 year plan which will bring my account to $100,000. Dare to dream :wink:

Maybe you will be a billionaire, who knows…

yup I realize that’s a very ambitious goal. but I’ve found if I set my goals higher (but still obtainable) I do better all around.

Or it’ll just make me hyper-aggressive and lose more money. better make sure I know when to cut my losses, haha

I would agree that 15% is a bit on the higher side but I wish you all the best. Also, please don’t over-trade just to achieve that 15% milestone.

It’s a good thing you decided to start running your own trading journal too, it’s a very good idea. If you have any problems, write to the forum anytime. You also have the full support of the forum members, who believe that you will succeed) You’re really on the right track, your journey has just started and it’s too early to give up!

“Riddick” is essentially an extension of the “Pitch Black” to some extent, but at the same time it shows many moments similar to the aforementioned films, despite the excellent special effects (although in this case they rather spoil the whole impression and look artificially).
So, first, I would like to say a few words about the atmosphere of the film. I don’t know what effect the creators of the film hoped to produce, but I haven’t experienced the hopelessness and horror and will explain why:
1.The film didn’t have the effect of surprise, that is. We initially know what kind of alien creatures we’re dealing with and how to kill them, unlike the “Pitch Black” in which events developed gradually: a dead planet, with two solar systems, animal bones, vanishing humans, and the incomprehensible hints said by Riddick made it even more dazed, and only when the atmosphere was heated to the limit and the planet slowly plunged into darkness, all the horror lurking in the catacombs, flew out.
2.The victory of good over evil, was evident from the very first minutes. All the bad die, and the good stay alive, while in the “Pitch Black” played a huge role in the unpredictability of the plot, I couldn’t imagine how everything would turn out.
Vin Diesel played, as before, the same impenetrable Riddick, not devoid of compassion for the defenseless, but ruthless to the vile personalities. Other actors haven’t made an impression.
Generally, not a movie, but a continuous disappointment.