
This blog is my online trading journal. I publish all my trades, wins, losses, and profits publicly to share my journey with the world as well as to help hold myself accountable... Even if no one reads it. I trade foreign currencies in the spot market based on Fibonacci retracements, combined with RSI levels/divergence, and the Hurst exponent to validate reversal confirmations. The Goal: A meager 10-25 pips per trade. In the future I may begin to do more trading related 'blogging.'
Monday, July 5, 2010
Sunday, July 4 Trades - +1.95% Profit
No complaints about trading on Independence Day. After all, I do this because I love it, not cuz its some job. The only thing I could have done better today was to better manage my Take Profit rules. If I had done that, I wouldn't have closed a $0 profit trade, and would have broken a 2% daily profit again. Not that I'm complaining because as long as I don't loose money, I can trade again tomorrow to make another 2%. Also had the time to trade longer today than I usually do. Even though I didnt get out right after my gains, this will allow me to have a better overall average when pulling End Of Month reporting numbers. This is fine while I am in system development mode, but I will try to not make a habit of continued trading when profit levels for the day have already been hit. Though in theory, if my system completes all testing properly I would want to be in the market as long as possible each day - The profits should overwhelm the losses, so duration will not matter. I believe my anxiety and greed begins to negate this fact though and begin to become careless, which is why I limit myself and am beginning to program my system into an entirely automated software program. Robots have no feelings or emotions. I do.

Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment