This journal, like the others posted, is here to not only make a record of my trades, but also to “put it all on the table” for all to see and make comments on. My trading is based on a philosophy that was found in a fortune cookie not to long ago...
“Little and often makes much.”
I have a few benchmarks I’d like to maintain as I trade.
- Have a win percentage of at least 85%.
- Average at least 50 pips each week.
I’d also like some help, from those of you willing of course, to help me define some other benchmarks to further help crystallize my trading a bit.
Max drawdown? Pip won to pip lost ratio? Others I’m not tracking yet?
Here are my results so far... I’m hovering just about 80% win rate... and as I stated, I’d like to improve that to at least 85%. I’ve had 58 wins averaging 10 pips a trade, and 13 losses averaging 19 pips a trade for a total profit of 330 pips.
On a slightly more detailed basis here are the results for my last 5 weeks...
Week of : Apr 22 – 90% Win, 10 Wins averaging 8 pips, 1 loss for 17, Didn’t track Max Drawdown
Week of: Apr 29 – 93% Win, 14 Wins averaging 13 pips, 1 loss for 18, Didn’t track Max Drawdown
Week of: May 6 – 83% Win, 10 Wins averaging 8 pips, 2 losses averaging 25, Max Drawdown of 45
Week of: May 13 – 73% Win, 11 Wins averaging 8 pips, 4 losses averaging 17, Max Drawdown of 65
Week of: May 20 – 72% Win, 13 Wins averaging 10 pips, 5 losses average 19, Max Drawdown of 85
As you can see the trend has started to sour since that second week and I need to refocus and get back to where I was to average the 85% win rate I had. I’m still pip positive every week... but something feels amiss.
I’ll be making every effort to post every trade in this journal as they occur (with a chart snapshot) and will update the numbers each weekend.
I’d also like to thank Spud and TEB for their threads... MAJOR inspiration for how I trade and the primary reason I trade using multiple time frames (MTF). Hopefully I won’t embarrass either of you with my results here!
“Little and often makes much.” We’ll see... J