Trade.com journal. Is making a living with CFD trading a SCAM or a CHANCE?

Thoris

Corporal
Messages
153
Ahaha, that's called karma, I think. Thank you so much for the concern indeed. I actually have heard that this is the method of buddist monks - if you want something for yourself, you should help others get it. So your advise sounds very reasonable in this light. I am actually doing not that bad, with the only trouble. I do the trades on trade.com web platform but I don't always journal them.
I should. I know I should.
On my side I can recommend "One Good Trade" by Mike Bellafiore ;)
 

Thoris

Corporal
Messages
153
Speaking of my little wins, I think I've came up with the set up that works best for me. Even though I currently trade it on EURUSD pair only, I can clearly see that the setup is kinda universal and works on all the timeframes that I watch and I can see it on the other instruments as well.
I didn't take a screenshot at the time of a trade, but that basically looks like on a screenshot below. I'm not exactly sure about the profit target though. I currently usethe ratio related to the stop loss for the target but it doesn't seem to be the optimal decision.
 

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Granigamand

Private, 1st Class
Messages
51
Even though I think that the work moves further with my journals and systematic approach. I can see that my trading has got much more disciplined now and last month was even profitable!
Yet, at the same time I see that the system misses some data. I can't say that my system is complete until I know that the data I use for decision making is reliable enough.
No, journaling and analysing each trade is good for my equity, no doubts about it, however...
 

Thoris

Corporal
Messages
153
Even though I think that the work moves further with my journals and systematic approach. I can see that my trading has got much more disciplined now and last month was even profitable! Yet, at the same time I see that the system misses some data. I can't say that my system is complete until I know that the data I use for decision making is reliable enough. No, journaling and analysing each trade is good for my equity, no doubts about it, however...
 

Thoris

Corporal
Messages
153
I've just noticed that my reply to the above quote was not posted and the forum shows the bare quote. It's a pity as I remember I wrote something wise there LOL probably wise and arrogant ROFL
In any case I'm glad we both move in the same direction.
Oh, and I wanted to ask, what do you think you are missing there?
 

Granigamand

Private, 1st Class
Messages
51
:) hope the technical issues didn't erase the holy grail you've uncovered here :D
I was speaking of the data on the trades that I didn't make.
I journal only trades that I had entries with.
For example, if I set the limit order and did not get the entry because the price was close but didn't reach the limit order a little - in this case I'm missing a good trade out of my data.
 

Thoris

Corporal
Messages
153
That actually makes sense.
That would be nice to be able to answeer the questions like: what if I was placing limit orders a bit more generously?
In this case I would have lost a bit more on each losing trade that I'd entered, but at the same time I would have gained a lot on successful systematic trades that I did not miss because of greedy limit orders. Trade.com has got a history of orders even if they were not filled and later cancelled. However, there are too many of those in the platform already for me to dare to analyse all this data.
 

Granigamand

Private, 1st Class
Messages
51
Exactly! You've got the point. Yeah, the orders history can shed some light on the problem, but that's an awful lot of work on analysis of those. What a pain! :/
 
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