Hi everyone, I will be sharing “myfxbook” trade Journal here.
In my trade journal I only have the following rules:
- 1-3 Trades a day.
- Strictly EUR/USD ONLY
- Challenge 1% a week
I hope i can get help and give help to friends on babypips.
I would like to share and discuss how important is psychology to trading and usefulness of strategy you created is greater than using strategy others succeeded with. This is because you can trust and know exactly what your strategy is doing at every part of the trade. You just need time and effort.
Say 5 people given the same strategy of 50% win rate (told that they do not have to execute all trades that triggers the system). Now can u imagine because of different experience, knowledge and taste for risk, they produce 5 different result? That’s why other’s strategy can only be used as reference. Even if you can see what they see, you will not be able to think(100%) like they think. Have you ever seen someone presents to you a strategy, then when you apply the strategy and loses that same person then told you “This is why you shouldn’t take this entry, that is why we do not take this entry”? Either he uses precognition ability during back-testing or he is so much more experience than you that certain “No-Go” is already for granted. Trading is a long journey and as we grow as a trader a lot of experience are hard coded into us and therefore no one shoe fits all.
Consistency(Doesn’t matter Win or Lose) and a healthy mind is more important than any strategy. Would like to share more as times goes by.
Hope that we can be friends.
Lastly, thank you for reading and good luck raiding the market.