Week Ending March 1st, 2019 -Results by Pips: PLUS 139 PIPS!
You would’ve noticed that when I listed my results (wins/losses), I did so in “Units of Investment”. This is my way of tracking my results that come from my Punting Career. One Unit equates to the “$ bet” for instance, if I am betting $1K on a horse, and I got paid 3/1 ($4.00) that would make me +3 units or 3 x $1K = $3K in profits.
The reason I reported in this way is because I really don’t care “how many pips I collected” since I invest the same amount in $$ for each trade, which is my 2.5% of my bank.
For instance, if I have a trade like the EUR/CAD (T33) long 618 we did last week and it cost me 40 pips versus the AUD/USD long (T35) that cost me only 11 pips, it would be pointless for me to report as a 51 pips lost when in fact both cost me the same $$ amount. The same works for profits. Our EUR/CAD (T40) win trade cost us 40pips in risk and we collected a net 135 pips! Amongst these three trades, as example, I netted 135 - 51 = 84 pips. But for me this means nothing…in real terms.
This is why I reported as units, and out of all the closed trades we are running at PLUs 2.1units. If you have a bank of $100K and invest 2% of it in each trade, then that would mean that 1unit for you is worth $2K. Therefore being up +2.1 units x $2K = $4,200 profits for last week.
Having said all of this, I know that recording pips is what we all are use to, therefore I will also try to add the pips lost or won in my summaries as well as the # of units of profits…
SUMMARY PIPS RESULTS FOR WEEK 25/2 - 1/3:
T33 EUR/CAD: 0 pips
T34 Copper: Active
T35 AUD/USD: -11 pips
T36 Oil: -50 pips
T37 Gold: -7 pips
T38 GBP/JPY: +100 pips
T39 Coffee: Active
T40 EUR/CAD: +135 pips
T41 AUD/USD: +20 pips
T42 Oil: Active and at break even
Total Pips: PLUS 139 PIPS!
Let’s hope we can keep this up…
Happy trading …