Trading journal of Eliott Morst

#1

Hello all! So after approximately two years of being a member here I finally got the guts to open a live NADEX account. This space will be used as my trading journal. Feel free to comment, offer advise, or even critiques… The goal…to eventually trade for a living!

#2

I look forward to reading about your adventures.

#3

So… I must admit something first and foremost; I am not consistently profitable at this stage of my trading career.
Nadex has extended its RTAF to 500 USD…I started my account with 1000 USD and am waiting for the other half to clear…

I traded down to 100 USD and am in the process of building it back even while waiting for the rest of my funds to clear.

Overtrading; revenge trading, hope an pray…gambling…

In the midst of all that I managed to make a good gain…the picture attached shows this…

SPREAD helped me alot…and TIMING…I have noticed that I prefer to enter a spread within the first 30 minutes…

The strategy I used to accumulate the ticks was to enter a currency pair after all of its news has setteled…like a few hours later…then enter on the next available spread.

Trading spreads assist me with timing the market and the predefined risk assists me with money management…

I am still in the process of setting up my tools (still setting up a virtual machine using google cloud services so that I may manage trades via mobile)

For now I have come to understand that this is SERIOUS BUSINESS…lots of effort

But the reward is greater.

#4

First trade of the week…now that I look back, it may have been wiser to enter after major support was breached. But I wanted the cheap spread close to the ceiling.
I must make sure I do NOT overtrade…dont overmanage, and keep my feelings out of it. I am only gonna loose 16 dollars so I will be able to live to trade again.
O…the rest of the RTAF got deposited. I mustn’t blow this account!!!

#5

Small success…I did not overtrade…position still going…major news coming…on my way to work…
I must setup the scanner so that I can use the trailing stop feature; i must do that after work today