Here is my trading journal. These are my opinions on what I think will happen next with the stocks I own, or am watching. I am currently, and probably always will be, learning about price and volume analysis. As I learn I am applying those things here. By keeping this journal I will keep a record of my progress and hopefully build confidence by learning from mistakes and realizing successes.
I would consider myself a swing trader, though I will not limit myself to that. I may day trade on occasions, but it’s not my focus. I don’t trade everyday and don’t want to. This is not my main source of income and I’m not sitting at my computer all day watching everything unfold. Typically, I will look at things at the end of the day and try to ascertain what happened that day and what will happen in the following days.
I am using the Thinkorswim trading platform from TDAmeritrade. I am trying to use as few indicators as possible. For me, I find the more I use, the worse I get. I am a minimalist and like to keep it as simple as possible. I am using volume and price analysis. My only indicators being used are Bollinger bands, 20; 50 and 200 day moving averages, average volume, volume profile and the relative strength index (RSI). That screen shot on the front is what my platform looks like. These may change as I go, and I will update that list if they do.
Finally, I have read the book A Complete Guide To Volume Price Analysis , a few times actually, and refer to The Wyckoff Method: A Tutorial often. I have been interested in learning how the original traders did it. I’m talking earlier 1900’s when there was only the ticker tape, if they could do it with such limitations, relative to today, then they must know what they are doing. That book has a good mix of the teaching from those greats. Besides if you have Amazon Prime, you can borrow it for free. If not, it’s only $5 for the Kindle version.
So, here we go!