I have been inspired in part by other posters on this forum and a desire to record and analyse my trades to start a trading journal.
I have traded shares long term for about 10 years now and have had some good success with ASX100 stocks. In 2009 I started trading CFD's and had some initial success. Then partly due to a fear of not losing money (which affected my trading mentality) and not having a clear strategy my account slowly grinded down.
Over this 2 year period I did have on and off success (so it wasnt all down). Reviewing this period I achieved my best results trading the ASX200 intra-day. From a personal perspective I also enjoy trading indicies rather than individual stocks.
I now have the opportunity to work from home and as a result can commit to trading on a consistent basis. I think the ability to trade consistently is an important factor in determing ones success or failure. In the past I would have a day or two worth of trading, then due to work/study committments i wouldnt be able to trade for a couple of weeks. Now I can trade 5 days a week, so hopefully something positive comes from this.
I trade both short and long and enter the market based on a cross over of the 10 period moving average below the 20 period moving average on a 1 minute chart. I also watch the 5, 15 and 1 hour chart to get an insight into the longer term moves of the market.
I also have the MACD and RSI on my charts and primarily use this to exit the market as it does IMO help in identifying the end of a trend/potential reversal.
I now only trade the ASX200 intra-day via IG Markets. By focusing on one time frame and one index I can more accurately review my performance and will hopefully become a better trader in this market.
I am obviously an amateur so please take everything I say with a grain of salt and always DYOR. I do not want this trading journal to turn into a bashing of my strategy or criticism of my small trading size. The strategy works for me and I am a firm believer that not everything works for everyone. I am starting out just like many of you would have in the past, I will be brutally honest in my videos so I don't need people trying to shoot me down.. I usually know when I have made a mistake (i.e. exited too early or taken the wrong trade) and will admit it in my videos. I do however welcome informed discussion and constructive feedback.
I have uploaded a video to youtube which analyses my trades from yesterday 17/06/2011.
There are a few other videos on the channel, however I have changed my approach from recorded directly off the chart to taking a screen shot and adding notes to the chart before making the video. I only did this because it was taking way too long to review each days trades.
My channel can be viewed here: http://www.youtube.com/user/InvestorPaul