Here's a screenshot of my trading journal in TraderVue:
As you can see from the screenshot, I grossed $254 or 25.4% gain on my $1,000 account from just 5 trades in my first week. After commissions and other fees (not shown); I netted a decent $180 in profits or about 18% growth in my first week.
My accuracy for the week, 80% (although based on a small sample size) was better than I anticipate it will be long term. My long term goal is 60 - 75% accuracy.
My win:loss ratio was 2.20:1 ($71.62/$32.50). Although I would like to see this higher; I am very happy with this and I will be elated if I can maintain a 2:1 win loss ratio long term!!
Based on the statistics above; I can expect to gross around $50 profits per trade. Further I know that I will make between 1-2 trades per day or 5-10 trades per week next week. So my goal for next week will be to gross $250 - $500. So basically if at the end of next week I can at least match my performance from this week I will be satisfied.
Bear in mind; my goal is a 50% growth on my account by the end of my first month. So if I can maintain my performance this week through the end of this month; I will easily eclipse my 50% goal. None the less; I will not allowed my self to get carried away with the "projection" game. My focus will continue to be making solid trades, base hits one at a time and if I'm performing and feeling well push for that home run trade near the end of the week like I attempted with $AUPH on Friday although it did not quite pan out.
Looking forward to another solid week of trading. Always remember; defense first!!! Winning trades will take of them selves as long you're patient and let them play out. It's the big losing trades and consecutive losing trades you have to guard against!
Best of luck next week...CHEERS!!!
No comments:
Post a Comment