My Goal for 2008: Trading to Trade Well

Update for week ended 6/20/2008.

Busy with work issues most of the week, so didn't have much time to focus. Trade styles were really across the board as I tried to fit in something whenever possible: from scalping a couple on Wed to looking at the hourly candles for the Thurs trade. Nothing to complain about though.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Monday, June 16, 2008	        $39.95	53.9	100.0	8,000	4	0	0
Tuesday, June 17, 2008	        $22.15	29.1	30.0	8,000	6	1	0
Wednesday, June 18, 2008	$3.31	4.2	10.0	8,000	2	0	0
Thursday, June 19, 2008	        $37.22	50.0	80.0	8,000	1	0	0
Friday, June 20, 2008	        -	-	-	-	-	-	-
---------------------------
Total for the week:             $102.63	137.2	220.0	-	13	1	0
 
Update for week ended 6/27/2008.

Sort of a whipsawed week (esp on Thurs) because I was too busy with family things to trade properly.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Sunday, June 22, 2008	        $23.20	31.0	60.0	8,000	1	0	0
Monday, June 23, 2008	        $11.76	16.0	20.0	8,000	3	0	0
Tuesday, June 24, 2008	        $4.32	5.0	10.0	8,000	1	0	0
Wednesday, June 25, 2008	$48.05	64.9	50.0	8,000	2	2	0
Thursday, June 26, 2008	        $3.32	8.8	100.0	8,000	9	7	0
Friday, June 27, 2008	        -	-	-	-	-	-	-
---------------------------
Total for the week:             $90.65	125.7	240.0	-	16	9	0
 
Update for week ended 7/4/2008.

This week just flew by - leaving for an early weekend and looking forward to the break. Started out the new month on a good foot and real happy with my discipline overall. Tuesday stood out the most - it was a lot of short scalps that added up in my favor. I didn't do anything much Thursday because of the Euro and NFP releases. Plan to slightly increase position size next week.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Sunday, June 29, 2008	        $20.35	26.7	90.0	8,000	2	0	0
Monday, June 30, 2008	        $35.58	46.9	80.0	8,000	3	1	0
Tuesday, July 01, 2008	        $50.78	65.6	80.0	8,000	26	9	0
Wednesday, July 02, 2008	$30.60	40.0	50.0	8,000	7	2	0
Thursday, July 03, 2008	        $8.24	11.0	20.0	8,000	2	0	0
Friday, July 04, 2008	        -	-	-	-	-	-	-
---------------------------
Total for the week:             $145.55	190.2	320.0	-	40	12	0
 
Update for week ended 7/11/2008.

Came back to a fresh start after the holiday weekend, but still had trouble getting up on a regular schedule. So took good setups when I had time. Happy with the results.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Sunday, July 06, 2008	        $29.54	30.6	70.0	10,000	3	0	0
Monday, July 07, 2008	        $70.12	75.1	100.0	10,000	11	9	0
Tuesday, July 08, 2008	        $18.89	20.4	150.0	10,000	2	2	0
Wednesday, July 09, 2008	$40.76	43.2	20.0	10,000	3	0	0
Thursday, July 10, 2008	        $64.17	68.1	70.0	10,000	2	0	0
Friday, July 11, 2008	        -$1.30	-1.0	20.0	10,000	1	2	0
---------------------------
Total for the week:             $222.18	236.4	430.0	-	22	13	0
 
Hi Datamerc,

You've been consistently profitable for the past few weeks now. Just want to say well done and keep up the good work. When do you plan on going back to IB? (I see you've just increased your size to 10K)

Cheers,
4thPip
 
Quote from TheFourthPip:

Hi Datamerc,

You've been consistently profitable for the past few weeks now. Just want to say well done and keep up the good work. When do you plan on going back to IB? (I see you've just increased your size to 10K)

Cheers,
4thPip
More...
Thanks! I have no immediate plans to return to IB and in hindsight, the move to Oanda was the right decision. Oanda covers the basics of what I need now and for the foreseeable future. It has been good for me to eat some humble pie :)

I put in the request to close the IB account many months ago, but they would not officially "close" the account, so any remaining funds were sucked up by monthly maintenance fees. I just received a statement the other day and it is now down to a zero balance, so they won't be getting any more blood out of this turnip. It wouldn't be so bad if a customer service rep could have given me a straight answer why they wouldn't just close out the account (and give me back my last $40 or so dollars), but every time I called or emailed, I would get a different response. Those sorts of games piss me off - so I have no loyalty to IB.

The consistency has been nice and I have been able to ignore the dollars because they are truly irrelevant. I'm trying to slowly building a foundation and am happy doing what I'm doing for essentially no financial rewards - these will come in the future.

My intentions are still the same as they were when I started this journal back in January - "to trade well". A few things stand out:
>> It is unreasonable to expect every trade to be perfect, nor can I be perfect. I have to remind myself that I am only human and can do so much damage (beyond what I have already done) to my account.
>> Do something just a little better each day. I have to give credit to "The Mind of a Trader" on iTunes for this phrase. This is the only podcast I listen to - I've never really read what analysts write or listen to what experts say because I have always believed the psychological aspect of trading to be the most important.
>> Each day is a new day - starting with a clean slate is worth it's weight in gold.

Hope you are doing well also 4thPip!
 
Update for week ended 7/18/2008.

I don't know if it's the hot weather or what, but I just couldn't get enough sleep. I could see it affecting my attitudes so stopped early this week and will see how it feels again next week.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Sunday, July 13, 2008	        $4.20	3.0	5.0	10,000	1	0	1
Monday, July 14, 2008	        $8.20	8.7	15.0	10,000	1	0	0
Tuesday, July 15, 2008	        $12.05	31.0	80.0	10,000	7	8	0
Wednesday, July 16, 2008	$67.57	66.5	90.0	10,000	5	1	0
Thursday, July 17, 2008	        -	-	-	-	-	-	-
Friday, July 18, 2008	        -	-	-	-	-	-	-
---------------------------
Total for the week:             $92.02	109.2	190.0	-	14	9	1
 
Update for week ended 7/25/2008.

First losing week in a long time, but not concerned. I really had an indifferent feeling after last week's performance so I didn't give myself any pressure to trade or to even look at the charts. If I had a few minutes away from doing other projects I'd look for a quick trade. Most didn't work out, but it was fitting for my attitude and attention given. Looking forward to next week!
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Monday, July 21, 2008	        $6.93	4.8	10.0	10,000	5	1	0
Tuesday, July 22, 2008	        -$18.13	-19.0	15.0	10,000	0	3	0
Wednesday, July 23, 2008	$12.79	11.6	25.0	10,000	4	2	1
Thursday, July 24, 2008	        $2.24	2.4	10.0	10,000	1	0	0
Friday, July 25, 2008	        -$11.40	-11.0	20.0	10,000	0	2	0
---------------------------
Total for the week:             -$7.57	-11.2	80.0	-	10	8	1
 
datamerc,

I don't know the difference between currency and stocks, but if you are proficient in currency trading, will you be able to transfer that skill to stock trading? I assume you want to make a living out of trading stocks (stock futures) eventually.
 
Quote from 4DTrader:

datamerc,

I don't know the difference between currency and stocks, but if you are proficient in currency trading, will you be able to transfer that skill to stock trading? I assume you want to make a living out of trading stocks (stock futures) eventually.
More...
I've never traded stocks or futures before and if anything, I would move into futures at a later time. I would expect that such as simple strategy as I use would be universal - it shouldn't matter what product I'm trading, just so long as there is movement.

I've never looked beyond spot forex - maybe I'm foolish for that, but I haven't had the desire or anticipation to expand until I feel completely ready. Changing the product I trade won't give me the goose that laid the golden egg - I find that inside myself.
 
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