9/1 – Trading Wrap for the Week

Back at home with the flu once again…

Unfortunately I am once again stuck at home for a Saturday, resting on my couch – feeling less than 100%.  I want to make myself feel a bit better by reflecting on some of the good trading behavior I executed this week.  This will also serve to help me continue with the theme of building my trading self-confidence.  The blog has two posts about this topic in December.  Here are the links for it:

Trading actions for the past week

  • Completed 10-15 minute visualization at the start of each London session and at the start of each afternoon session.
  • Always took a lunchbreak outside the office.
  • Completed preparations prior to each session – reviewing strength/weakness ratings, examined instruments on different timeframes to identify strong trends, identified key fundamental issues, anticipated potential setups
  • Full documentation of all trades and good logging throughout each trading session
  • Exercised patience in entering into trades – was selective with setups
  • Carefully handled all risk management aspects
  • Refrained from trading on Monday and Friday because these days have been quite difficult in recent weeks.
  • Was aware when negative thoughts started to swirl around in my head.  Noted these down and identified constructive resJob Well Doneponses.

So, all in all, I traded smartly and competently!  I did a good job – well done!

Results for the week

(Bearing in mind that trading behavior is, in the long run, more important than short-term trading results.)

The week’s net result a loss of £34.  The total amount risked on the 25 trades was £2,400 (approx £100/trade).  There were 10 winners, 10 losers and 5 scratch trades.  Here is  list of all the trades:

results for the week

I realise that the amounts discussed may seem laughable to a lot of readers.  However I see not merit in risking more until I am showing consistent profits.  Once that occurs, I increase the amounts risked and will probably quickly recoup the losses incurred trading at smaller stakes.

Main Questions from this week’s trading

  • How often did the setups work?  What was the actual success rate?
  • How can the position management be improved?
  • (Keep in mind the context of “My theory on the financial markets”)

I will answer these questions when I am back at the office on Monday.  As last week, this Monday will again be a study & analysis day, rather than actual trading.

Other ad hoc items

Had a catch-up with Mr France – he seems to have secured a decent amount of trading capital from another party – so he plans on trading that from later this month – he would still like me to keep an eye on his money management though, so will forward me statements on a regular basis.

We had a new trader join us in the trading office this week.  He will be working part-time in January, and then full-time from February.  He primarily trades the emini futures contract, as well as emini options for longer term views.

Just one week until my new machine will be assembled, together with 4 trading screens – exciting!

 

This entry was posted in Mr France, Psychology, Trend-Following Strategy. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s