09.26.09
I've been trading for years now and one of the simplest things a trader can do is track their results. I've finally moved my pride out of the way and have begun to keep this journal. I've read the advice to keep a journal every where but I never did it successfully. I'd write a few things down for a short period of time but then I'd inexplicably stop.
I really like keeping a public online journal because it gives me a place where I can access my information at anytime and it holds me accountable to whomever stumbles across these entries.
Regarding my current struggles of being patient with my winners I've realized I'm trying to be too perfect and if stop trying to be so perfect that my profitability is likely going to increase allot. Very often when I place a trade it'll be in the correct direction of the short-term trend but I cut my profits so quickly that I don't catch hardly any of the move.
What I'm going to stop doing is taking profits from the initial push I get in my favor once the trade has triggered. Of course there will be some exceptions to this rule but way more often then not I'm going to demonstrate the ability to give my trades time to move in my favor.
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