Episode 16 - How a Trading Journal Can Increase Your Profitability with Edgewonk
Moritz from Edgewonk came on the show to tell us his trading story and talk a bit about using a trading journal. Moritz has a fascinating story of moving from professional poker player to professional trader! He is a technical trader who is consistently profitable and blogs about travelling the world and trading on the trading community website he runs with his friend Rolf, tradeciety.
In addition to this, they have recently launched the second version of Edgewonk. This is an impressive, all-singing, all-dancing trading journal that aims to help you discover your trading edge. We talked to Mortiz about the essential need to record your trades, even if it is on a simple spreadsheet or on a more powerful tool like Edgwonk. We will certainly be using a trading journal to help us find our edge in the coming months!
Tom and Owen were trading the New Zealand Dollar vs the Japanese Yen in week two of the trading challenge. A shift in sentiment following Japanese central bank announcements early on Monday meant that it was a hard challenge as both sort of held ground against each other, just ranging away... This continued after the Global Dairy Trade news came out for the NZD with nothing much changing and Tom and Owen both struggled to modest losses.
Owen’s loss was more modest but he declared he didn’t want to win like that, so it is still 1-0 to Tom!
Brandon Turner of Intex Learn wason the pod again and set us a slightly different challenge for Week 3 - USD vs any currency of our choice! This gives us a bit more freedom if the sentiment shifts but requires a bit more leg work from Tom and Owen.
We will also be setting up our Edgewonk journals and seeing if there are some benefits to be gleaned!