Results - using my new rules, see post #18
15th July 2024 to 19th July 2024
Everything is net of comms.
- 3 trades
- 1 Winner - USDCAD +£8.58 / +1.97R (risk was £4.35)
- 1 Loser - Silver - (£5.39) / (1.02R)
- 1 BE - GBPAUD - (£0.41) / (0.08R)
- T2 - Trend reversal, entry conditions not quite fulfilled.
Net £2.78 / +0.87R
My winner, USDCAD, entered Tuesday, closed Friday.
This is one of the longest trades I have been in.
Really practicing my patience and sticking to 2/3 trades a week.
Why do I have a BE if one of my rules are to not manage a trade? My GBPAUD entry, was a premature entry based on what I am looking for. It fulfilled half my entry criteria and when I realised this, I exited the trade. Which ended up being a good decision as it would have hit SL. Therefore, this was an error and I corrected this quickly. Because of my rules, I penalised myself to not make another trade, I have reached 3 trades. Next time I will make sure I wont waste a 'bullet' incorrectly.
My risk on the USDCAD as you can see was slightly less than £5, which is just what the lot size allowed me, going higher would mean I go way over my risk. Remember I do not care about the profits, I care about the R return, this is the true metric that one should use to judge how profitable a trader is.
I had a Silver trade which turned into a loser,
I am super proud this week for sticking to the process. The positive R return is a bonus.
Let's get a decent sample and go from there.
Have a good weekend.
