Trading Results for this week were as follows:
Thus 5 trades across DAX (+1.2R) and EURGBP (+1.17R) were the biggest profit contributors, with most of the other instruments slightly in the red. In the end a net return of 0.96R (or £192), with an average trade risk of 0.43R (£86). 7W, 5 BE, 6L (7-5-6) trades – compared to 10-5-10 in the previous week.
It’s interesting (but most likely coincidental) that both this week and last week I finished the trading week with three consecutive losing trades on Thursday afternoon.
Did I trade competently?
Examples of good trading this week:
- Taking it very easy on Tuesday and engaging and concentrating on study and analysis after missing Monday’s session due to sickness
- 10-15 minute visualizations twice each day
- Strong risk management
- Sticking with desired changes in trade management techniques (which were based on analysis of completed trades)
- Sticking with K5 trades this week, without being tempted to trade reversals and/or round numbers
- Thorough preparation for each session
- Good record-keeping and trade documentation
- Overall great concentration and focus throughout each session
So results are still waning a bit – this week has been positive but still only slightly. Let’s see how next week works out. However it certainly seems that I am doing the right things. So progressing in the right direction.
Ad hoc – a couple of interesting meetings this week:
The first was a 2.5 hour discussion with a high-frequency trader from a small City-based hedge fund. He explained some of the main in’s and out’s of the HFT (also known as low-latency) trading approach. I am amazed I was able to hold my concentration for that long – as there was a lot of material to digest.
Today Ann from Chasing Returns came for a visit to the trading office. She ran me through the web-based tool she is developing for helping traders measure and evaluate their trading performance by running various data analysis over trading history that traders can upload to her site.