My Goal for 2008: Trading to Trade Well

Update for week ended 8/22/2008.

I just haven't been able to get back to my regular schedule because life continues to get in the way. Son is going to a new school next week, wife is unrelenting with her requests, and everything else in between has put a real damper on trading (and not much relief in sight). I'm certain to look back at these times and smile, but until then I continue to scalp when possible or like on Tues and Wed - place some positions on longer timeframes.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Monday, August 18, 2008	        $0.00	0.0	10.0	10,000	0	0	1
Tuesday, August 19, 2008	$133.21	134.3	200.0	10,000	5	0	0
Wednesday, August 20, 2008	$76.50	76.0	120.0	10,000	1	0	0
Thursday, August 21, 2008	$10.90	11.0	15.0	10,000	1	0	0
Friday, August 22, 2008	        -	-	-	-	-	-	-
---------------------------
Total for the week:             $220.61	221.3	325.0	-	7	0	1
 
Update for week ended 8/29/2008.

I must have been subconsciously trying to bump up the month's P/L this week because Monday I was stupid and opened a lotto position and let it run overnight without stops. I got caught red handed and was able to partially recover on Tuesday - but the slap on the hand still stings. I was lucky it wasn't worse and must continue to fight some bad habits and better respect risk.

All the other trades during the week were fine - just would have preferred some bigger targets. Looking forward to September and plan to keep the 10K position size.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Sunday, August 24, 2008	        $2.83	2.8	20.0	10,000	2	0	0
Monday, August 25, 2008	        -$74.79	-76.4	160.0	10,000	1	6	0
Tuesday, August 26, 2008	$67.21	67.5	70.0	10,000	2	0	0
Wednesday, August 27, 2008	-$3.07	-1.8	30.0	10,000	4	3	0
Thursday, August 28, 2008	$35.01	35.8	55.0	10,000	7	2	0
Friday, August 29, 2008	        -	-	-	-	-	-	-
---------------------------
Total for the week:             $24.36	25.1	315.0	-	14	11	0
 
Update for week ended 9/5/2008.

Took it easy this week after last week's mistakes. Plenty of good movement in all the pairs I watch, but I wasn't available to take advantage of it. Looking forward to next week and continuing to improve in some small way or another.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Monday, September 01, 2008	-	-	-	-	-	-	-
Tuesday, September 02, 2008	$25.91	27.5	50.0	10,000	3	0	0
Wednesday, September 03, 2008	$67.26	67.3	70.0	10,000	7	1	0
Thursday, September 04, 2008	$2.09	1.0	120.0	10,000	1	2	0
Friday, September 05, 2008	$20.00	20.0	25.0	10,000	1	0	0
---------------------------
Total for the week:             $115.26	115.8	265.0	-	12	3	0
 
Thanks for still reading sam0182 - I don't anticipate the year being profitable, despite my steady profits, because of the tiny position size I am dealing with now. I will gradually increase position size when I think it is prudent.

Fortunately I have been able to not worry about the overall P/L performance - there are times when I start to think about it, but am able to get out of that mindset pretty quickly. I really care the most about small consistent psychological steps - the big goal of making money should take care of itself.

Good trading to you too.
 
Quote from datamerc:

Thanks for still reading sam0182 - I don't anticipate the year being profitable, despite my steady profits, because of the tiny position size I am dealing with now. I will gradually increase position size when I think it is prudent.

Fortunately I have been able to not worry about the overall P/L performance - there are times when I start to think about it, but am able to get out of that mindset pretty quickly. I really care the most about small consistent psychological steps - the big goal of making money should take care of itself.

Good trading to you too.
More...

Good mindset & something I'll look into for myself.

We'll catch ya next week! :)
 
Update for week ended 9/12/2008.

The profit was nice this week, but was due to luck and not well-earned. I broke many rules to get the job done and regret it a lot. I was letting winners run, but at the expense of holding overnight with no stops :eek: . I know how wrong this is but was so confident with my positions my ego could stand to get shaken out of the trades. I closed everything by 4:00am this morning before the 7:30am news releases.

Again, I am happy to take the money but my behavior was too dangerous and simply lucky. Next week I need to be very cautious.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Sunday, September 07, 2008	$67.07	70.4	100.0	10,000	4	0	0
Monday, September 08, 2008	$99.17	102.1	200.0	10,000	4	2	0
Tuesday, September 09, 2008	-$38.84	-38.7	250.0	10,000	2	2	0
Wednesday, September 10, 2008	$176.57	183.0	100.0	10,000	2	0	0
Thursday, September 11, 2008	$150.00	150.0	200.0	10,000	1	0	0
Friday, September 12, 2008	-	-	-	-	-	-	-
---------------------------
Total for the week:             $453.97	466.8	850.0	-	13	4	0
 
Quote from datamerc:

Update for week ended 9/12/2008.

The profit was nice this week, but was due to luck and not well-earned. I broke many rules to get the job done and regret it a lot. I was letting winners run, but at the expense of holding overnight with no stops :eek: . I know how wrong this is but was so confident with my positions my ego could stand to get shaken out of the trades. I closed everything by 4:00am this morning before the 7:30am news releases.

Again, I am happy to take the money but my behavior was too dangerous and simply lucky. Next week I need to be very cautious.
Code: 
Date	                        P/L	Pips	Range	Size	W	L	S
Sunday, September 07, 2008	$67.07	70.4	100.0	10,000	4	0	0
Monday, September 08, 2008	$99.17	102.1	200.0	10,000	4	2	0
Tuesday, September 09, 2008	-$38.84	-38.7	250.0	10,000	2	2	0
Wednesday, September 10, 2008	$176.57	183.0	100.0	10,000	2	0	0
Thursday, September 11, 2008	$150.00	150.0	200.0	10,000	1	0	0
Friday, September 12, 2008	-	-	-	-	-	-	-
---------------------------
Total for the week:             $453.97	466.8	850.0	-	13	4	0
More...

If you would have used your normal S/L setups or a trailing, would you have been taken out?
 
Quote from 1.6180340:

You are completely right!

I have stopped trading some time ago when my results were not good. I concluded that it was not just due to some bad habits. The key point is that I used strategies that were simply not profitable. Time to step back and find a strategy that does have an edge.
More...

unbelievable statement........ should be posted in archives for training purposes
 
Quote from sam0182:

If you would have used your normal S/L setups or a trailing, would you have been taken out?
More...
On a couple EURUSD I would have been stopped out - the majority would have been fine.
 
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