Saturday, August 8, 2009

08/08 Weekly Review

This was an awesome week for me! I was much more selective in my trades and this made a huge difference in profitability! I also adjusted my trading strategy to consider exiting trades that amost reach the target and then fade back to b/e, this was a decision after I took a loss on Monday and I think it is smart do so something like that.

Day-by-day review:
08/03: 2 trades, 1 win, 1 loss (-2.52% ROI)
08/04: 1 trade, 1 win (scratch) (+0.15% ROI)
08/05: 1 trade, 1 win (+3.04% ROI)
08/06: 2 trades, 2 wins (+8.46% ROI)
08/07: 1 trade, 1 loss (-1.46% ROI)

Totals for the week:
7 trades, 5 wins, 2 losses (+3.74% ROI - Not Compounded**)
Average Win: +3.04%
Average Loss: -2.56%
Risk to Reward Ratio: 1 : 1.2
Winning Percentage: 71%

Trading Performance Metrics:
1) Trade set-ups: A+ Waitted for the best trades, not rushing into sub-par trades
2) Managing Stops: A+ Managed properly, even with a change in the trading station
3) Capital Allocation: A- Need to adjust to the new capital level
4) Managing Exits: A+ Took all my trades to their targets

** I couldn't compound my capital this week because I was increasing my trading capital in the middle of the week. I started trading on a very small account on Monday, then increased on Wednesday and then again on Friday. Overall, I made good money for the week, the week P&L is based on the total capital available in the account by Friday.

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