Trading journal of Gadfly
|January 4th, 2015, 07:38 PM||#1 (permalink)|
Futures Experience: Beginner
Favorite Futures: Gold
Posts: 2 since Jan 2015
Thanks: 0 given, 0 received
Trading journal of Gadfly
Allright here we are then.
I have placed my very first trade on 29 september of 2014. So I have been trading live for 3 months now before that I did train a little bit on a demo account to little which I figured out very soon.
My first two accounts were with 200 euro which I managed to destroy in a couple of days/weeks.
Oh how naive and such an idiot I was. After this I realized I should be working harder. I searched for information developed a plan, my risk on every trade became far less by putting in stop losses which I did not in the beginning.
I then started a new account on the 10th of december with a balance of 112,50 this journal is about that account. To be honest I have no idea if I have overcome my own shortcomings I hope I have or at least will in the coming months. My main focus has been on my losers where previously it was on winning. I have been able to reduce my losses both by number and size. By using a fixed amount of points on a stop loss.
I'm trading gold and gold alone. I have been trading a whole range of markets at the start. But now I know its better to focus on one market alone at least that is what I think is good for me.
I'm swing trading the 4 hour time frame with the CCI and simple moving averages, looking for reversal patterns in an overbought or oversold area. And watching previous support and resistance areas. In a trending market I"m holding my trades longer and in a choppy market I try to be aware of sudden reversals. I'm not looking for a fixed amount of profit on a trade it's just what the market wants to give me. This made more sence to me than an RR of 2-1 or 3-1. The best trade I have untill now had a 5-1 RR. I have been holding trades for 30 minutes and also 13 days which was the longest and most profitable trade so far.
Main focus now is losing as little as possible that is why you see that a lot of trades are break even.
Allright the trades that I have done so far.
17 winners: average win 22,744 euro =386,66
17 break even = with a stackering 0,77 profit
14 losers: average loss 8,12 euro =113,69
break even 35,41666667%
Starting balance: 112,50
Balance now: 386,24
This growth percentage is of course unsustainable on the long run, and as time passes this growth rate will fall but I managed to get there with a 4% risk on every trade. With the increased capital I now risk only 2% on any given trade. In the future I would like it to be 1% or even less.
Goals this month more focus on my losing positions. Because I have a bit of a problem with jumping in to early. luckily not with jumping in to late, and trying to chase the price. I just let it run it's course then. Also looking to change my rules for break even. it seems I'm doing that a little bit to soon.
Allright, this week I will post my trades with charts and why i got in.
English is not my native language, but I guess my words are readable.
Wish you all a good trading week.