This journal is lame and there I seriously doubt you will have an kind of profitable trading career ever.
That sounds harsh, but I'm being honest. This whole journal is just a bunch of pithy sayings that losers focus on. They think that because they aren't focusing on these things they aren't making money, when actually they have no edge and consequently no chance of ever making money long-term. Sure, you can get lucky and string together a good week or month, but that's about it.
You don't understand money, you don't understand edges, you don't understand risk management. The whole idea of stopping when you hit your profit target, this is bad. Same with having a stop loss for the day.
Now this is ok if you have actual tested data that shows that when your system makes x $ in a day it loses it's edge or the other way around (maybe if it loses x $ in a day it has a bigger edge so you should trade more contracts.)
You need to learn how to find an edge and learn how to test for these things. I don't think you have anything close to one right now. But that's not enough for you because you aren't emotionally cut out for this game. After 3 years you are still freaking out and breaking rules and losing money hand over fist. My recommendation is to take your $5k to a casino, go to a roulette wheel and put it all on red. At least this way you've got almost a 50/50 chance to double your money. If you continue trading, you've got a 0 chance to ever make money. You'll be busto within 6 months.
That sounds harsh, but I'm being honest. This whole journal is just a bunch of pithy sayings that losers focus on. They think that because they aren't focusing on these things they aren't making money, when actually they have no edge and consequently no chance of ever making money long-term. Sure, you can get lucky and string together a good week or month, but that's about it.
You don't understand money, you don't understand edges, you don't understand risk management. The whole idea of stopping when you hit your profit target, this is bad. Same with having a stop loss for the day.
Now this is ok if you have actual tested data that shows that when your system makes x $ in a day it loses it's edge or the other way around (maybe if it loses x $ in a day it has a bigger edge so you should trade more contracts.)
You need to learn how to find an edge and learn how to test for these things. I don't think you have anything close to one right now. But that's not enough for you because you aren't emotionally cut out for this game. After 3 years you are still freaking out and breaking rules and losing money hand over fist. My recommendation is to take your $5k to a casino, go to a roulette wheel and put it all on red. At least this way you've got almost a 50/50 chance to double your money. If you continue trading, you've got a 0 chance to ever make money. You'll be busto within 6 months.