Ok so the trading has finished. Remember my goal was to take good setups, and not be too bothered with the results. Trust me, that’s much easier said than done. Below are ALL the trades I took this week. The results were not good – though part of that was likely down to the quiet August market conditions not being ideal for the strategy. The stats were 4-4-15 for a loss of 5.64R.
However – the stats that really count for this week. Reviewing them one more time – I consider that 17 of them were valid. 17 out of 23 equates to 74% – around 3 setups out of every 4 valid. The goal was 85%. Let’s try for 85% again for the coming week. Let’s see whether I can reach the goal this week!
I am sure that anyone reading this blog must think I am not much of a trader – funnily enough, I am feeling that I made a lot of progress this week. Remember keeping the risk small is the key whilst dabbling around in the red section of the profit & loss account. My position size risk for next week will decrease a little (to £184/trade) because of the losses this week.
- Longed Cable without a clear reversal of the bearish sentiment of the morning session – instead of waiting for a bearish setup (following the double top in the early afternoon)
- Trade Management on short DAX trade (the winner) – I need to not come out on the basis of fear of losing the paper profits. This is really costing me.