October wrap-up

This has been a challenging month. The challenge hasn't been from an excessively unpredictable market, but rather from my own personal challenge to grow as a trader. Trying new things always causes some level of discomfort and stress, but when you put money into the mix those results are magnified. I'd been practicing new trading tactics on a micro account and had mixed results. When I was patient and focused the results were positive, but when I got distracted from my plan things didn't go so well. This past week I decided it was time to move forward and start trading these new tactics in my regular account. Looking back on the week I'm glad I made that decision because I probably learned more this week than the previous 3 combined. Some pretty good trades were taken, and some really bad ones were taken as well. However, with each experience I've become more confident in what I'm trying to do and my ability to continue to grow as a trader. Thankfully some people in the chat room at www.blue-point-trading.blogspot.com have offered of themselves and their knowledge to help me grow. I'm very excited going forward at what the possibilities could be.

Weekly wrap-up

This past week went quite well. I booked some profits on the EURCHF and am holding 4 short positions over the weekend as the pair holds near 1.5200. Also, my newer trading strategy work well and I was able to recover half of my losses in that strategy from the past 3 weeks. It is becoming obvious to me that an area of my trading that needs development is the mental side. I find myself taking trades early at times, and also not booking profits when I should. My main area of focus this coming week is going to be taking some profits once the trade goes 10 pips my way and then moving the stop on what ever remains of my position to break even or 1 pip positive. My entries seemed to be getting more accurate towards the end of last week so hopefully that continues and I stop trying to hit home rums each time and take what the market is giving me. Richard Regan from ProTradingCourse.com says that "Entries are a science, and exits are an art." I think this is a great way of approaching trades.

September wrap-up

I've updated the results graphs for the month of September. Overall it was a good month as the volatility picked up towards the end. My learning activities have evolved quite a bit as I've found another way to trade that makes sense and focus much of my time on that plan. I'm only trading $.10/pip on that at this point but plan on increasing that as my skill set improves. The new trading style was negative for the month and is reflected in the posted results, but I see that as nothing more than the cost of experience and information. October is off to a good start and I'm looking forward to seeing where my trading goes from here.