2% weeks

opened long off the daily pivot. Took profits when the bulls seemed to lose steam above 1.5900.
+3.86% for about 21pips.

i was about to take my break when a signal came up on m30. soon as candle shadow formed, i took profits.

Now i take my break.

two trades so far--one short was stopped out (-2.16%) and a long position closed going into previous day's high (+2.79%).

had to take a 57-pip loss on cable. I must have left a limit sell yesterday, totally forgot about it -13.85%.

lesson learned and i am back to square one.

Don't say that - you'r not back to square one. You are progressing as planned.

I hope you truely understand what it means risking 2% a trade. Several losses in a row WILL give you drawdowns much more than -13.85% but at the same time several winners in a row WILL bring it back plus much much more, especially your faith.

The only question I have is: Can your capital sustain 20 maybe 30 losses in a row? If it does, are you prepared for this?. If your answer to this question is "yes, and yes" , head down and sleeves up - success will chase you.

All the best.

ps. If you had grown your account by 100% before losing 13.85% of total equity (13.85% of [Capital x 2]) would have accepted it with a smile as part of the game. It is still a normal loss (or cost of doing business), so keep your smile.

got it all back--tuition paid, lesson learned. that's enough trading for the week.

correction with the last trade posted. The gain for that was 13.19%, NOT 14.05%

Week 5 Net % P/L: +5.38%
Net % P/L to-date: +14.94%
Average P/L to-date: +2.98% per week

winning weeks: 4; average % gained: +3.87
losing weeks: 1; average % lost: -0.64%

4 trades: two were stopped out, the other two closed on target.

total of four trades today: gbp/usd and eur/aud - two shorts, both stopped out, and two long positions, took profits on time stop.

Week 6*
Net % P/L: -7.72%
Net % P/L to-date: +12.88%
Average P/L per week: +1.19%

Winning weeks: 4; Average % gained: +3.87
Losing weeks: 2; Average % lost: -4.18%

no excuses. i found myself fighting a cable whipsaw at one time during the week. lesson learned, moving on.

Week 7*
Net % P/L: -6.37%
Net % P/L to-date: +0.76%
Average P/L per week: +0.11%

Winning weeks: 4
Average % gained: +3.87
Losing weeks: 3
Average % lost: -4.91%

*performance tracking start date is September 1, 2009.

Week 8*
Net % P/L: -5.73%
Net % P/L to-date: -4.97%
Average P/L per week: -0.62%

Winning weeks: 4
Average % gained: +3.87
Losing weeks: 4
Average % lost: -5.12%

*performance tracking start date is September 1, 2009.

Good luck dude. Keep practicing man. Remove all distractions from the room when you're trading.

See my sig.