First!

This is my first ever entry on Vocal. As the name suggests, I am a trader. I trade stocks.

I kinda stumbled into trading during the pandemic.

I am a struggling trader. I have my win days, I have my loss days. More losses than wins so far. Trading is not easy. It messes you up in your head big time. That is the biggest mystery about trading. Psychology plays a huge part.

But I aspire to be a successful trader. A successful trader is a consistently profitable trader.

That’s why I journalled my trade a lot.

And since I wrote so much, I thought I should just write on a platform that can make me money while I am at it. So I am giving Vocal a try.

Hahaha! Why not?

To be honest, journalling has helped me a lot on improving my trades. I use an app called Pendo. It is a free note/journal/calendar/task app on IPhone and Mac that syncs with your ICloud.

What do I write in my (trading) journal? Mainly the following:

- What I did right in a particular trade

- What I did wrong in a particular trade

- My feelings during the trade (if it made me feel bad the whole day through)

- My feelings as I consolidate my trading success or defeat

- Things to improve

I also wrote down my trading plan and strategy in the journal. I separate them under the Notes tab in Pendo. I found that a trading plan and strategy is actually an ever evolving document that I need to keep updated as my trading skills mature.

I found that my trading plan and strategy has developed into much much shorter document as I go along. I guess it is because of my better understanding of the price action and market behaviour. As some of the best trader said, "Keep it Sweet and Simple."

I am mainly a Technical Analysis trader. I read the price movement in the chart and decide what to do. The only fundamental analysis I do is making sure the company is not in any financial trouble and keeping track of the company's quarterly earnings.

From my journalling, I discovered my mistakes and uncovered what I could do to improve.

Journalling also helps keeping me sane. Losing money can drive you bonkers! It is like having your own personal psychiatrist.

More about this later.

Besides journalling, I found that listening to great traders on Youtube and podcast also helps. Especially since a lot of these great traders are really generous with their advice and tips. And most of the time, it is for free!

Listening to all these great traders also help me to stay grounded. The story of their humble beginnings really resonate with beginner trader like me. It makes me realise that trading success would take some time. But once you reach that consistent profitability, you have made it.

Good resources for traders interview on Youtube are Traderlion channel, Richard Moglen channel and Etienne Crete channel. Mind you, these interviews are normally super long. They normally extend beyond 30 minutes. So, be prepared.

To me, the best way to devour these Youtubes/podcasts is by listening to them when I go for a jog or walk in the morning. Otherwise, I listen to it in the car on my way to the city in the morning and late afternoon.

Most of the content of the interviews are light enough to be listened to casually. But when it comes to the part where they talk about how to read the charts, etc, it is better to catch up with those parts in front of the screen of your computer or TV.

I guess this would be enough for a first entry for my trading journal / journey.

So... watch this space.

Make. Manage. Manipulate Money.

The Trader Malaya