Hi,
This journal, like others submitted, is here to not just make a record of my transactions, but also toâ€set everything on the table†for all to watch and make comments on. My trading is based on a doctrine that was discovered in a fortune cookie not to long ago...
â€Little and often makes â€
That I have a few benchmarks I'd like to maintain as I trade. Possessing a win percentage of at least 85%. Typical at least 50 pips each week. I'd also like some help, from those of you prepared of course, to help me specify some other benchmarks to further help crystallize my trading a little.
Max drawdown? Pip won to pip ratio that was lost? Others I'm not tracking yet?
Here are my results so far... I'm hovering only about 80% win rate... and as I stated, I'd like to improve that to at least 85%. I have had 58 wins averaging 10 pips per trade, and 13 losses averaging 19 pips per trade to get a total profit of 330 pips.
On a slightly more thorough basis below are the results for the past five weeks...
Week of: Apr 22 -- 90% Grow, 10 Wins averaging 8 pips, 1 loss for 17, failed to track Max Drawdown
Week of: Apr 29 -- 93% Grow, 14 Wins averaging 13 pips, 1 loss for 18, failed to track Max Drawdown
Week of: May 6 -- 83% Grow, 10 Wins averaging 8 pips, 2 losses averaging 25, Max Drawdown of 45
Week of: May 13 -- 73% Grow, 11 Wins averaging 8 pips, 4 losses averaging 17, Max Drawdown of 65
Week of: May 20 -- 72% Grow, 13 Wins averaging 10 pips, 5 losses average 19, Max Drawdown of 85
since you can see the trend has started to sour since that second week and I need to refocus and get back to where I had been to average the 85% win rate I had. I'm still pip confident every week... but something feels awful.
I will be making every attempt to post every transaction in this journal because they occur (with a chart snapshot) and will upgrade the numbers each weekend.
I'd also like to thank Spud and TEB for their threads... MAJOR inspiration for the way I transaction and the principal reason I trade using multiple time frames (MTF). Hopefully I will not embarrass both you along with my results !
â€Little and often makes †We'll see... J