Well that was some week, the only way to describe it especially the second half, was speak no evil, hear no evil, see no evil, or the complete reverse depending on your trading outlook.
I said on another thread I would bear ,my soul each week, good or bad.
Was this week a disaster no, can I explain some of the factors involved probably not being a swing trader, who factors in news and events.
Should the Kiwi gone up, yes based on assumptions obviously the markets disagreed.
Did the fact that it was ending the second quarter have an influence, or is it such turbulent times that bad news no longer plays a part the markets,and they’ve have had there jabs and there immune systems have built up.
Here’s my week, firstly let me tell you my weaknesses this week, I got into a verbal discussion on the forum, one which I should have ended, unfortunately it was with a verbal diarrhoea ist, my fault pride before a fall and I posted my pips count.
Wrong I then committed one of the O’s a cardinal sin, overconfident.
Beginning the first half of the on top of the world, maa, second half closed down my account Friday morning to come out and get my mental state back in repair.
Finished week -22.86
Best trade of week. SPX 500 145.5 pips
Worst trade of week. GBP/NZD -75.1 pips
Second half of week definitely damage limitation especially in the Asian markets, a lot of drifting and reversals.
To Date.
26.13% to go to make monetary target for month.
1801.56 pips up for the month
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That’s quite the roller coaster ride!
Jeez!
Well, it certainly seems like you’re keeping good records, and you’re winning some serious pips, overall.
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As for me, then quite good results for the week. I usually analyze my results by month.
I keep a comprehensive log, my experience is that the numbers count, not so good at writing my reasons etc for entering a trade, and analysing the reason it didn’t work out etc.
However on the numbers they can’t lie so I know my S/L, intended target price, is it with a trend or against and lot of other info.
I do basic calculations daily such as knowing how much I can lose percentage wise to take me back to my starting bank for that month.
Weekly I do the lot percentage of target needed to reach my end goal for that month, profit and loss, average win, average loss, ratio of wins to losses.
It makes my end of month easier, but more importantly because you have to treat this as a business if you want to be successful then I can adjust my trading accordingly.
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Trading is always unexpected. You never know what might happen with your next move. But still you have done some good work in the week. That is quite unstable but impressive trading I must say. Good work. Keep doing his way.
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Luckily it wasn’t typical of my month or my normal trading, finished the month 1875.98 pips up.
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Glad to see your progress. I personally analyse my results monthly and then work on the ones that were not good in the past. I calculate average ratios such as average loss and average profits based on monthly basis. If my strategy doesn’t go well, I prefer back testing my strategies and then compare the results.