Sunday, August 2, 2009

08/02 Weekly Review

This was a short trading week for me, as I explained earlier, I just got started on a project management job and am working throught the initial training phase. For now, I'll be trading whenever I don't have training in the mornings, once training is over I will be back to trading every morning.

I thought at first this was a negative week, as it turns out, it was a positive one. Once again, this is all thanks to a good capital allocation and risk to reward strategy coupled with decent execution on trading ideas/patterns. I'd like to point out that the risk : reward was not quite the 1:1 that I aim to achieve. This happened because in one of my trades I did not properly manage my stops, I let the trade hit the initial stop instead of cutting it short when it started to fade and revert (see 07/30). This is still a very small inventory of trades, however, it gives me something to focus on next week: managing stops.

Day-by-day review:
07/27 - No trading
07/28 - 2 trades, 1 win, 1 loss (-0.98% ROI)
07/29 - 1h trading day - 1 trade, 1 win (+3.5% ROI)
07/30 - 2 trades, 1 win, 1 loss (-0.45% ROI)
07/31 - No trading

Totals for the week:
5 trades, 3 wins, 2 losses. +2.02% ROI (Compounded)
Average Win = +3.5%
Average Loss = -4.09%
Risk to Reward ratio = 1.16 : 1
Winning Percentage = 60%

Trading Performance Metrics:
1) Trade set-ups: A- Had one single trade where I jumped the gun, all the others were properly set-up.
2) Managing Stops: B Want to make sure this is executed without hesitation. Focus on it next week
3) Capital Allocation: A+
4) Managing Exits: A+ Took all my trades to their targets

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