My FTSE trading diary. OK, so I have been promising myself to set this up for sometime after reading Robert Sweetmans first class blog but after a bad run of trades early 2012 I resolved to finally get it started to try and stop myself making anymore dumb ass mistakes through undisciplined trading.
I have been trading part time since 2008. Started off with a small spread betting account which I used to trade indices (mainly FTSE), it took me about 2 weeks to blow it up so I decided to move to trading shares on the FTSE 250 and AIM. The trades I made were based almost 100% on fundamentals and I made decent profits (few grand) for the first couple of years but became steadily more frustrated having to put up with the down swings in the market chipping away at my profits. This, along with the realisation that it was unlikely I could live off my gains lead me towards trading the indices again. After reading a load of books and trying to trade every system and market under the sun that I could find I decided to direct my focus on the FTSE, this is partially my choice and partially due to the influence of Mike over at ftseday.co.uk who has been an incredible source of advice.
I day trade the FTSE only now, I am still have a full time job but enough spare time to analyse the market and I can usually get a couple of trades in the morning, lunch time or evening. I trade off price action alone, no indicators and use support/resistance, gaps and trends to find my entries.
I will try to post some analysis of the market as I see it, some of my trades and general thoughts on the market and making money. I don't have system I just try and trade what the market shows me.
"I won’t do any trade until there is money lying in the corner of the room and all I have to do is walk over and pick it up." Jim Rogers
"I won’t do any trade until there is money lying in the corner of the room and all I have to do is walk over and pick it up." Jim Rogers
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