So here we are ... June 2013

Hey Everyone,

A long time between posts. I have to say I haven't devoted as much time as I should have to the fundamentals of trading. These are:

1. Plan your trades
2. Keep a trading diary

As you can imagine, my trading record for financial year 2012/13 has been a seesaw. I have been as low as 50% down and as high up as 20% on my trading account as at financial year end 2011/2012.

Looking back, I don't believe there has been a single trading rule I haven't broken. Planning trades is the most important discipline. For me, this is the following list of my crimes against trading:

1. Placing random trades in the absence of price action signals
2. Not spending time on technical patterns - this is a job, not a hobby
3. Not planning out any stops or limits
4. Forgetting to remove stale orders - I am just lucky that when the last one of these gremlins triggered, it triggered in the right direction.

For the year, I am down roughly 25%, which in absolute terms is not much on a micro account.

So, it is time to get back to basics. More frequent updates, planning, and keeping a trading diary.

If anyone cares to follow, I will also be keeping my play by play over on Pinterest.

To conclude this post: wishing myself and all you traders out there good trading into the last week and a half of the Australian financial year. Including one of my favourite memes to sum up my trading attitude lately.