I am going to start documenting my scalp trades as much as I possibly can. Scalping results in a significantly increased number of entries and exits as compared to the longer term trading that I am more used to. This means that there is much more activity to document.
I feel it is important to record as much information as possible as this trading approach represents enough of a departure from what I am used to that having a detailed journal will hopefully prove to be very useful over the long term.
I am currently demo trading this method using Oanda and plan to do so for the rest of the month. If things look positive by the end of October I might transition to a very small live account and take it from there.
The format for how I record these scalp trades will most likely change over time but this is how I’m going to start out documenting my efforts:
6 October 2008
Daily total: +53.5 pips
I know that totaling pips from across three different currency pairs is not especially accurate, even more so if the gearing used on each pair is different, but I’m just looking for a rough ballpark of how I’ve done on a day to day basis. Thus a crude pip total will suffice for now.
- Scalp journal – 31 October 2008
- Scalp journal – 5 November 2008
- Scalp journal – 7 November 2008
- Scalp journal – 8 October 2008
- Scalp journal – 6 November 2008
Write a comment
You need to login to post comments!