10% Weekly Journal
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Thread: 10% Weekly Journal

  1. #1
    Hello Everybody

    The goal of this trading journals would be to make 10% yield on a weekly basis, so into the theorical trade plan (look at excell spreadsheet)...I understand it is huge return (if anualised) and likely will not make it. . .and a lot of you are going to think/say I am dumb. . .it is ok for me..but it is my goal this season and I will attempt to make it!!

    It is possible to see my account prior to 1st post. . .As you may see, I basically trade eur/usd, since it´s the pair I am most confortable with..my egy for entry is not based on a system as you can see lots of them on FF, but I don´t believe I invented anything..Since I don´t understand what the price will do, I just adhere to the price / fad. . I typically work with Support (S) and Resistance (R) horizontal lines, Trend lines (TL), 100SMA and 200SMA, ADR, and a little bit of Fibo. .Usually I seem at 1W, 1D, 4H and 1H in order to spot the fad, and 1H candles for entry, being this last one the most crucial one for me (for entry and exit stage )...I always trade using a Stop Loss (SL) entered in the same time as my entry order, although not always with a goal profit (TP), since I have to see occasionally what the price is doing at reaching my TP. .

    II consider myself a novice trader, like I am trading live for only 1 year. . .on average I am watching charts 10/12 hour per day (combined most of the time with my job. . .so it is not the same as being full dedied to it). . .2012 was profitable ( 60% on an account founded by 1000 euros on average) but made so many errors!!! ...

    so that I can attempt to conquer most of them, the very damaging one for me in the moment will be overtrading....Since my egy show me on average 1 trade or less per day, I occasionally can´t wait and trade eur/usd or an other pair (or alloy or SP, EU50 or Dax) and, normally, shed some pips!! And for certain new issue will look on this trip...

    Let see what happens this season. .

    PS. Sorry for my english, it is my third language, so I am not that fluent....

  2. #2
    Fantastic luck man. I'll be watching with curiosity.

  3. #3
    First week ended since I open this journal..well it has been a complete disaster..not that much concerning drawdown (even though a 20% in one week could consider as a disaster)but concerning trading. . .This was a week where the planned goal could and ought to have been reached if I followed my rules..the week start on a very boring range (I'm talking of EU) because it remained between 1.3250 and 1.3380. . .someone trading ranges could have made a lot of good transactions, in my case that it was better to stay silent, as I until thursday..But on thursday, for some reasons I should analyse, I start trading like a junkie, without alerting none of my principles and to restart:
    - I trade on emotion and without respecting my own principles, chasing the price regardless of waiting for the price to reach my established amounts.
    - as I start losing money, I overtrade (30 transactions in a week!!) , for me personally it ´sa lot of transactions...
    - as I continue losing money, I increase my lot size and decrease my stop gap...
    On friday night, I was exhausted and quite frued and upset. . .it was a very long time because I had such a bad transactions. . .Since my goal is quite ambitious, I'm ready to have bad months, but I would like to have them because my evaluation and egy didn´t work, not to behaving like this...
    The only good news from this week is that I didn´t blow up my account!! And that I am still above my goal for this month. .
    Anyhow, because Friday night I tried not to consider it, disconnect and enjoyed my spouse and my small kids. .
    But I want to not replie this never again this season. .
    I enclosed my trading journal actualized
    Ps. Thank you Xhale 12 to your curiosity

  4. #4
    End of the month analysis:

    - First 3 weeks very great, I didn´t exchange too much, good entrances and very good exits. . .but I begin making entries. . .Then problems appears...

    SO I get overconfident, I overtrade and overload my transactions, begin losing money, begin chasing price, overtrading increasingly more, overloading, and looking for entrances in markets I neglect ´t know well. .

    Results it´s two quite bad weeks...

    Outcomes for the month are not that bad, considering all of the stupid things I left. . .but I'm extremely upset with myself, and I am going to remenber it for a very long time...I think I understood that the lesson (time will say it) and opt to proceed.

    For your incoming month, I opt to adhere to a couple rules:
    1/ I will only trade EU, because it's the pair I'm most used to, I know much better and historically give me the best results by far.
    2/ I will only exchange in the direction on the tendency.
    3/ I will only trade if I receive a signal for it.
    4/ I will only trade max 0.2 lot at one time (if I proceed to BE, then I can reenter with more lot dimensions ).
    5/ SL will be in a maximun of 10% of the account. . I know it appear very high and everyone say max 2%, but it's a protection SL, I usually closed my transactions manual,
    6/ Max 2 poor trades per day, if I receive stop out (or pick to closed trades), the evening is going to be finished
    7/ Max 10 transactions per week

    Let see what´s occur

  5. #5
    End of week 5 analysis:
    Bad week, perhaps not to the monetary results (target almost attained, still over K accumulated. .) But in terms of trading system and, as you may see, the profit variable and sortino factor looks very bad...
    The good (or poor!!) Think, it´s I didn´t possess a important drawdown at the end of the week, and I somehow managed to have an adequate yield (8%).
    Anyway, I don't say or think it is going to be easy, very interesting (for me!) To see if I will stick to my self imposed rules. . I truly think it is posible to have large returns on Capital if the plogical aspects of the trading are understood (and the usual weaknesses contained. .)
    Let see what happens next week.

  6. #6
    Week 6:
    Great news first: I did reach my goal of 10% for the week.
    Bad news: I just respect stage 1 (easy, just delete all the pairs, only looking at EU!!) And 5, and allow ´s say (being generous) point 3. But I counter trend, or trade when I really didn´t find a proper trend. . I trade greater than 0.20 lots at one time, so I needed to thighten (too much) my SL.and I overtrade, meaning I left unnecessary entry, and stupid trades. .
    I am really my worst enemy...I have to be considerably more consistent and follow strictly my principles, since I am not going to be lucky weekly...I think I am looking some thing when I am trading (action, passion) that I shouldn´t be searching for when I am trading. . .the more boring it get, the more profitable I'll be!!
    Anyhow, it´s friday, so let enjoy the weekend end!

  7. #7
    week 7:
    Same as previous week. I reached my goal ( 14%), but only observed rules 5 and 1. I overtrade a method too much this week (43 trades!) . My MM was very bad, I left -55 pips on the week! The only good thing is that I reduce the losses without difficulty, I don´t head to be wrong, and until today I accept it. However, the problem is, since I trade with too much weight, I had to cut many entries speedily.
    The results are that I am trading on briefer TF, also it´s not what I am used to..and it´s new for me, and I am not very happy with that sort of trading...
    My principal problem is that I am trading my account regardless of trading the charts, and get too much money with my weekly goal. Since I attained it very quickly, I had to cope through the remainder of the week with fear (of missing the goal ) and greed (producing my entrances thinking how much I could win, when I always calculated first how far I can loose).... An extremely bad week really
    Good week end to every one you

  8. #8
    Week 7:
    Everything have been planned! I overtrade so much, with so much leverage, I managed to have -25percent drawdown on 1 week (and -15% today)....never happen to me earlier. . .total shortage of discipline..incredible...I am seriously interested in closing this journal along with my TE, I am presuming it´s with the contrary effect it was set up for. .
    Happy week end!!

  9. #9
    Good morning
    Funny issue to remark: you can see that yesterday I enter a market order in eur/usd with a single lot....the funny thing is that I actually didn´t create this entrance, but it was my little princess (20 month), that took my ipad at home, input at XTB platform (really poor idea to let my password memorized onto it!!) , and watched a massive red button and press it!!! I am lucky it was a really flat day, and if I watched it, I could closed the trade, and with no losses....on an ordinary afternoon and with bad luck, could have experienced a margin call. . .One lesson earned yesterday: you can make profit even if you allow your baby decide when to input, however better to select your exit by yourself!! Just kidding (or maybe not. .)

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