MONTH IN REVIEW: FEBRUARY 2017
Hi traders,
There are hundreds, if not thousands, of trades posted on Trading View every day.
Some are hunches of what the market MIGHT do, others set definitive entry points and profit targets, and others anticipate the completion of certain patterns.
But how do we separate the wheat from the dross?
I want to be as transparent and accountable with my trades as possible. This is why I've started to make a diary of all my trades and a monthly review of how successful (or unsuccessful they were).
This will help ME to review what went well and, more importantly, highlight areas where I can improve for the following month. It will also help YOU, the readers, to hold me to account and determine how reliable my trade set ups are.
So how did I do this month?
Number of trades taken: 8
Number of ideas posted: 12 (3 educational, 9 trading ideas)
Successful trades: 7
Unsuccessful trades: 0
Entries missed: 1
Trades still active: 1
So here's a breakdown of the trades I've taken this month:
Trade 1:
NZDUSD SHORT
+162 pips
Trade 2:
AUDUSD SHORT
This trade is still active
Trade 3:
EURNZD SHORT
+100 pips
Trade 4:
AUDNZD SHORT
+100 pips
Trade 5:
EURNZD SHORT
+60 pips
Trade 6:
EURJPY SHORT
This trade was successful but I missed the entry because I was asleep. You can't catch them all!
Trade 7:
NZDJPY SHORT
+100 pips
Trade 8:
USDJPY
+50 pips
Trade 9:
USDCAD
+50 pips
TOTAL PROFIT/LOSS: +622 pips
ACTIVE TRADE/S FLOATING PROFIT/LOSS: -16 pips
What I've learned this month: If the market is bad for a long spell, it's OK. All you need is a few good trades a month to reach your profitability goal.
Happy trading everyone! I hope you've all achieved your monthly goals.
AvidTrader
There are hundreds, if not thousands, of trades posted on Trading View every day.
Some are hunches of what the market MIGHT do, others set definitive entry points and profit targets, and others anticipate the completion of certain patterns.
But how do we separate the wheat from the dross?
I want to be as transparent and accountable with my trades as possible. This is why I've started to make a diary of all my trades and a monthly review of how successful (or unsuccessful they were).
This will help ME to review what went well and, more importantly, highlight areas where I can improve for the following month. It will also help YOU, the readers, to hold me to account and determine how reliable my trade set ups are.
So how did I do this month?
Number of trades taken: 8
Number of ideas posted: 12 (3 educational, 9 trading ideas)
Successful trades: 7
Unsuccessful trades: 0
Entries missed: 1
Trades still active: 1
So here's a breakdown of the trades I've taken this month:
Trade 1:
NZDUSD SHORT
+162 pips
Trade 2:
AUDUSD SHORT
This trade is still active
Trade 3:
EURNZD SHORT
+100 pips
Trade 4:
AUDNZD SHORT
+100 pips
Trade 5:
EURNZD SHORT
+60 pips
Trade 6:
EURJPY SHORT
This trade was successful but I missed the entry because I was asleep. You can't catch them all!
Trade 7:
NZDJPY SHORT
+100 pips
Trade 8:
USDJPY
+50 pips
Trade 9:
USDCAD
+50 pips
TOTAL PROFIT/LOSS: +622 pips
ACTIVE TRADE/S FLOATING PROFIT/LOSS: -16 pips
What I've learned this month: If the market is bad for a long spell, it's OK. All you need is a few good trades a month to reach your profitability goal.
Happy trading everyone! I hope you've all achieved your monthly goals.
AvidTrader
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