My Goal for 2007: Break-Even

5/9/2007
+$101.57, 12 trades (9W, 3L)
EURUSD: +14/46
USDJPY: +7/52

D - Smartly squared positions before FOMC this afternoon. Over traded today, ignored stops on a few positions.
 
5/10/2007
+$117.45, 4 trades (4W)
EURUSD: +12/17
USDJPY: +11/15

C - When I got greedy, I let my dollar bearishness allow me to ignore rules on last two trades. Quit trading after that.
 
5/11/2007
+$23.06, 5 trades (3W, 2L)
EURUSD: +0.5/11
USDJPY: +5/45

D - Really had my head up my ass. Opened USDJPY positions out of fear of missing out rather than according to the rules and guidelines. TGIF.
 
5/14/2007
+$89.76, 3 trades (2W, 1L)
USDJPY: +18/20

C - Not much range today to work with. Could have been a bit more aggressive, and didn't take one or two scalps on EURUSD that were available.
 
Keep up the good work. You seem to be consistantly profitable thus far. Obviously you're not trading with large lot sizes, but that is probably not you're goal at this point.

Anyway, I'd rather be profitable trading small size, than losing with large size.
 
Quote from clacy:

Keep up the good work. You seem to be consistantly profitable thus far. Obviously you're not trading with large lot sizes, but that is probably not you're goal at this point.

Anyway, I'd rather be profitable trading small size, than losing with large size.
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Thank you clacy. The formula I use to calculate my lot size is (basically it works out to be 10K for every 1K in account equity):
(acct_balance*0.001)*10,000

My trouble has been maintaining the consistency. In the past, after about 2 months of good daily progress I will screw up very badly. Here is what has typically caused me to wipe out months of profits and more:
1. A strong bias (e.g. dollar bearish) will get in my head and positions I take will start to reflect this.
2. I won't be able to get out of one (or more) of these bad trades and will hold for extended periods (adding to the loser along the way). I hold and hope, or try and convince myself the trend will come back around to prove me correct.
3. I'll exit the position(s) at severe losses with a much smaller account balance and feelings of stupidity. I may be right eventually, but my account equity doesn't care about that.

That is why I have started this journal, I am tired of repeating that disaster every once in a while. I'm looking for the good smack of reality from ET by posting my daily results. It can only give me unnecessary stress by discussing every trade with my wife, so she receives the standard "trading is fine" regardless of actual profit or loss.

I believe I will become a consistently successful trader, I just need to soak every cell in my body with the discipline to get there.
 
Quote from datamerc:

I will become a consistently successful trader - I just need to get there before my account dries up.

Thank you for reading.
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Youre screwed. The comm (from the frequency) and the slippage (have you measured the slippage) on 3 and 9 minute charts will reduce your account no matter how you well you trade.
 
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