I close the week in profit again with pathetic +0.3% (vs last week) , it was a disappointing ending. I just can’t get rid of the Friday jinx. The week’s performance was destroyed by this stupid Friday market. Anyway, I am not really satisfied with my performance this week. Firstly, I found myself watching the trading screen too frequent and have the tendency to exit a trade early even though profit target has been set. Well, some people say “You won’t go broke by taking profit”, I don’t buy this. It is important to hold on your winners to bag bigger profit, you need them to balance out your draw down period. I have no problem exiting a losing trade, since I really hate loser. The real work for me now is to hold on my winners and derive a better way to manage my profitable trades.
Well, I thought I can finish the week strong. But, hey, you don’t know what’s gonna happen next, that’s trading. Anyway, it is still a profitable week. Accept it, fool.
[photopress:Week4result.gif,full,alignleft]
Month in review April 2007
I was feeling a little bit pissed when compiling this monthly review. However, after reading through my trades again, I guess, I should not bother too much. This is just the first month of my live Forex trading, and I ended the month flat (well, up +38 pips, or +0.96 R), the most important to me is, I manage to recoup all losses incurred in the early of the month. The first two weeks was a total trial-and-error period. I finished my trading plan after 2 weeks, understood and found a way to deal with my bastard broker’s widened 20-pip spread during news time, and started trading the new plan since 3rd week. Despite my Friday jinx, I was actually up 189.5 pips , or +4.74 R for the last 2 weeks of April. I should not push myself too hard over this result. I do not plan to tweak my system again for the time being, I shall execute it through out next couple of months. The only possible change might be stop trading on Friday until I find a priest to get rid of my Friday jinx, uhm…LOL
All in all, I finished the month with a whopping +38.5 pips, +0.96 R. System accuracy was just 43.10%. I might not be trading next Monday. If I do, I will update it later.
In case any auditor wants to view my trading log, I have uploaded here.
[photopress:April07Forexresult.gif,full,alignleft]
“The real man trades Futures, his son trades Forex, I am trading both, for my wife” 🙂
Not bad going for the first month Gav. Lessons have been learned at a lowish cost. And you beat me, I’m going to end well negative this month…bah !
ps – I’ve got the number of a good voodoo priest who can sort out your Friday jinx!
Not bad going for the first month Gav. Lessons have been learned at a lowish cost. And you beat me, I’m going to end well negative this month…bah !
ps – I’ve got the number of a good voodoo priest who can sort out your Friday jinx!
Caravaggio,
Yeah, I definitely need the phone no of your voodoo priest. I hate Friday! LOL…
Caravaggio,
Yeah, I definitely need the phone no of your voodoo priest. I hate Friday! LOL…
Gav, good job! Forex is a huge learning curve. I know I’m still learning too!
Gav, good job! Forex is a huge learning curve. I know I’m still learning too!
Tom,
Thanks. Enjoy your weekend and let’s have a great month of May.
Tom,
Thanks. Enjoy your weekend and let’s have a great month of May.
Gav,
I have noticed a pattern in your communication w yourself. I may have some ideas on how to improve
this and thereby improve your trading success.
Your negative tone is not congruent w/ your ability
for starters…
Best,
Jake
Gav,
I have noticed a pattern in your communication w yourself. I may have some ideas on how to improve
this and thereby improve your trading success.
Your negative tone is not congruent w/ your ability
for starters…
Best,
Jake
Hey Gav,
coming out ahead after 12 losses in a row is the proof that you have the perseverence that charaterizes great traders !!
Keep on developping your Forex trading plan, you certainly look on the right path….
Best wishes for May !!
Stéphane
Hey Gav,
coming out ahead after 12 losses in a row is the proof that you have the perseverence that charaterizes great traders !!
Keep on developping your Forex trading plan, you certainly look on the right path….
Best wishes for May !!
Stéphane
Stephane,
Thanks for your kind words. 🙂
Enjoy your weekend!
Gav
Stephane,
Thanks for your kind words. 🙂
Enjoy your weekend!
Gav