You Are Scared Of Using A Journal
Yes, I know you are scared. Surprised? You know it, too. You know exactly why you are not using a journal. “Later, later”, you tell yourself. “When I have a proper strategy” or “when I am profitable.” Funny! In Germany, we say that’s like shooting yourself from behind through the kneecap into your eyes.
You are hiding. Hiding from the truth. You are hiding from the truth of your trading. You are scared and you make up excuses. And then the never-ending procrastination starts. “I will start my journal tomorrow! I just need a few winning trades first.”
You don’t want to commit to a single strategy because you are scared that you might fail. It is easier to blame the strategy than yourself. You don’t want to give it everything you got because you are scared that you still might fail, even if you threw everything you have at this monster called trading.
And you don’t want to see in black and white that you are losing money, that you have a negative expectancy, that you are SUPPOSED to lose a certain amount of money on each trade you put on because your way of trading doesn’t work.
No, no, no. You don’t want to see that. It is so much easier to go from system to system to system and blame everything and everyone else, just not yourself after busting another account.
The statement from your broker is not a big deal – minus 300$? Just a bad run of trades. You can still turn this around if you just bet a bit bigger on the next trade. You know exactly what I am talking about.
Yes, you! Don’t hide behind the anonymity of your screen. I am talking to you. You deserve to lose money because you are nothing more than a little scaredy-cat that doesn’t want to hear anything about the reality of trading.
A bit too harsh? I am so sorry. Go back to losing money then. Or quit trading. Good luck out there.
What, you are still here? Alright then. Maybe you are still here because you are angry at me. Or at yourself. Or you just want to know whether I have a holy grail for you? Nah..I don’t.
I have something much better, though. I offer you the chance of a lifetime. You have the chance to achieve something you will be proud of, your family will be proud of, your friends will be proud of, and tons of people will admire you for it.
You can pull off something which the vast majority of people will never be able to pull off. And the best of it all is you will have done it all by yourself. Without cheating, training wheels off. Yes, you can do it! All you have to do is…well, you know what you have to do. I don’t have to tell you.
But knowing what to do and doing it are two completely different pairs of shoes. So pull your head out of the sand and defeat your fears. Because if you don’t defeat your fears, they will actually become reality.
You fear to be a failure will become a reality if you don’t start treating your trading like a business and start journaling. It is time to take responsibility for your actions NOW, grow up! Because the most you will ever learn about your trading is by studying your trading.
If you stick to one strategy, tweak it, grow with it as a trader, and make it better and better step by step, then you will have a real good chance of becoming the next profitable trader out there. If you don’t do that, well, then just stop trading. Please.
You already know that you are unprofitable, what are you so afraid of? Every mistake you make is a gold nugget which you can learn from. But if you don’t learn from the mistakes you make, you are not only a failed, miserable trader but also a failure in every other aspect of life. And there is no learning by doing in trading. You can only learn from your mistakes by using a journal.
So start one today, I don’t care whether you have a “strategy” or not, once you start using Edgewonk and are forced to really think in depth about your strategy, that is when you will also create a framework for that strategy and step by step your trading will become more and more structured.
Don’t wait until you magically find a strategy, that will NEVER happen. Instead, develop a strategy with the help of Edgewonk and finally stop failing on an epic scale. I wish you great success, but only if you follow the advice I just offered to you. If you don’t follow my advice, I wish you good luck, because you will need it.