October Trading Update

Having been away I managed to miss the early few days of trading in November and what an interesting week it’s been.  I hope readers have been harvesting a few cheeky pips this week.

I on the other hand have been reviewing my trading for October after I moved to focussing on 4 hour charts.  The data sample is much too small to get excited over but it’s a start.  I tend to do these kind of reviews every month, every quarter and for each strategy.  I quite enjoy it (geek alert) but it does give me a good idea of trends within my own trading and ultimately that’s a good thing.

I’ve included the screen shot from my trade journal with all the data.  

Trading Days: 8

 Total Account Growth: 11.4 %

Observations:

Hit Rate – Good, Risk vs Reward – Poor.  To be fair I said at the start that I was only trading with two contracts to test my system.  I’ll be trading with 3/4 elements going forward to provide me the opportunity to ride the odd trade that trends nicely. That should move the RvR (and subsequent expectancy) into a better place.

Long vs Short Bias.  Hmmmm……tell me something I didn’t know.  I’m much happier being a seller than a buyer. However 9 to 1 is a tad excessive!

Risk Management.  I’ve been risking too much per trade ( which I’m happy with on swing and position trades)sometimes up to 3-5% per trade. So I have trebled my account size in order to reduce trade position size down into more manageable size.

Trades placed but not triggered. I haven’t kept data so far, but will do so this month.

If you’re not doing this kind of review…..then I suggest you start!

FXTraderPaul