Finished the day, achieving the target that I had in mind for the end of this week.This Friday was going to be my last trading day for the year. As a result I will stop trading for this year and what year it was. I would like to share some of my results, not to brag but to give hope that anything is possible in this fascinating game (i.e.FOREX). Also, I will provide some statistics to give you an idea of what to expect.
Since I stopped consistently loosing
in Forex back in early March, I created a very aggressive MM plan which I more or less followed up to today. This was a daily 3% profit (or loss) which I later reduced to 2.5% with regular withdrawals. Here are some interesting statistics:
1. I had 5.3 trades per day on average
2. My overall winning % is around 72%, but it is steadily improving. For example, last month was 77% which is consistent with Clay's advice when he told me that I should be able to get around 80%.
3. I know this sounds too good to be true but I can barely remember loosing days anymore. I have several BE days, but the rest are winning days.
4. If I exclude a big F***UP back in June while I was still not as disciplined and thought that by increasing the SL a bad trade would come back
, the biggest draw-down was around 16%.
5. Since changing my daily target, the average daily growth was 2.66%
6. My best trades were between London open to US open.
7. I kept increasing the lot size as per the MM plan and I am know almost insensitive to the amount of money that the lot represents. Just focusing on pips/day will work for me. Lot size is now 2.7
8. This means that if I don't have a loosing day, I need 3 more trading weeks (15 trading days) to achieve my original target of 33K trading with around 4 lots. Now that the target looks so close, I decided to change my MM yet again as follows: I will not stop increasing the lot size at 33K. I will keep increasing it but with a target of 2% daily growth. I will be very careful to see how my broker behaves at these sizes. So far, when I get requoted it seems to be randomly favorable or not (actually seems most times in my favor).
9. If I take into account my withdrawals then I have achieved my yearly target and I will go into vacation a happy man.
10. One more comment before I leave you. Stress management IS important. I am using all kinds of psychological tricks to calm or congratulate myself after trading (e.g. relaxing music & thoughts, smoking a cigar when I make a withdrawal, convincing myself that account balance is just monopoly money which becomes real when I withdraw,etc.)
P.S. Merry Christmas to all
, see you next year. I will be lurking around the threads for fun, but I will not post much for the rest of the year.
Since I stopped consistently loosing
in Forex back in early March, I created a very aggressive MM plan which I more or less followed up to today. This was a daily 3% profit (or loss) which I later reduced to 2.5% with regular withdrawals. Here are some interesting statistics:1. I had 5.3 trades per day on average
2. My overall winning % is around 72%, but it is steadily improving. For example, last month was 77% which is consistent with Clay's advice when he told me that I should be able to get around 80%.
3. I know this sounds too good to be true but I can barely remember loosing days anymore. I have several BE days, but the rest are winning days.
4. If I exclude a big F***UP back in June while I was still not as disciplined and thought that by increasing the SL a bad trade would come back
, the biggest draw-down was around 16%.5. Since changing my daily target, the average daily growth was 2.66%
6. My best trades were between London open to US open.
7. I kept increasing the lot size as per the MM plan and I am know almost insensitive to the amount of money that the lot represents. Just focusing on pips/day will work for me. Lot size is now 2.7
8. This means that if I don't have a loosing day, I need 3 more trading weeks (15 trading days) to achieve my original target of 33K trading with around 4 lots. Now that the target looks so close, I decided to change my MM yet again as follows: I will not stop increasing the lot size at 33K. I will keep increasing it but with a target of 2% daily growth. I will be very careful to see how my broker behaves at these sizes. So far, when I get requoted it seems to be randomly favorable or not (actually seems most times in my favor).
9. If I take into account my withdrawals then I have achieved my yearly target and I will go into vacation a happy man.
10. One more comment before I leave you. Stress management IS important. I am using all kinds of psychological tricks to calm or congratulate myself after trading (e.g. relaxing music & thoughts, smoking a cigar when I make a withdrawal, convincing myself that account balance is just monopoly money which becomes real when I withdraw,etc.)
P.S. Merry Christmas to all
, see you next year. I will be lurking around the threads for fun, but I will not post much for the rest of the year.
.
