Hi Michael how's going?
Here's my journey from zero to pro trader! Many of you are Italians, and i know it's strange to read from an Italian in english. But i decided with my instagram followers to communicate with you guys in english! (i'm sorry if i will made several grammar mistakes)
📆 Weekly Journal #3
This week i continued my travel in Spain, i was in Valencia and Madrid, so i still was not 100% focus on charts. I understand that it's very important for me to have a proper trading plan. So i understand how i want to trade, how i want to open my trades and only with a plan i can really comprehend if i'm doing mistakes or not, so i can fix it in the process. I'm still Demo-Trading on FTMO free trial.
🧠 What have i learnt?
This week i studied again Footprint charts, and how to use it properly in TradingLite, since i wasn't able to read all the platform. It's very good that on TradingLite you can study in their learn section. (Footprint can look difficult, at first, but they are not that complicated. It's important to have major contextualization, and test a lot) PS. i still need to learn more about it.
I also studied how to implement VWAP in my strategy. This indicator is very powerful. You can add it also in TradingLite if you want to, otherwise directly in TradingView. I had no idea what a standard deviation was, so i also study it thanks to ChatGPT, for the moment i'm keeping every trade in my journal on google sheet, and i want to understand at best my win rate and profitability.
I also studied a lot DOM, depth of market, and it's very cool, but it's not my trading style. DOM can be very helpful if you have almost zero spread, and if you want to go in and out of a trade in few seconds/min.
📉 What have i mistaken?
One trade... I probably involved my emotions, without realizing it!
I'm very mindful, very focus, but in that trade it was like if i was blind. I lost consciousness and it was like if i couldn't see the risk, only profit.
I opened my trade, it was a good setup. Than i increased my size, without checking other signal, i basically increased my size in the bottom (it was a short, click to check the trade).
I remember i was checking only the VWAP, loosing track of other factors...
📌 Goals for Next Week
I want to focus more on my operations. Checking how i actually trade, how i manage my emotions and money.
Regarding the study i want to continue with Trading in The Zone.
I have a big "to watch list" on my youtube, mainly regarding Trading Psychology.
Footprint and VWAP, still need to master it, so i want to check it again.
🎁 Useful Resources
Weekly Recap PDF, fill it every week, it will help you to keep track with your trading process. I'm filling it every Sunday and thanks to this pdf i can write this emails!
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Below I leave you my social channels where you will find periodic updates on my journey as a professional trader. For now I am sharing often in instagram stories what I learn!
Here's my last video with my reflection of the week. Beliefs are crazy important!
That's all from Michael Pino, happy trading!
