Gnome's Trading Diary

This is a discussion on Gnome's Trading Diary within the Trading Journals forums, part of the Reception category; I've not done an update for several weeks so sorry about that. Usually in such cases it's because things have ...

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Old Sep 7, 2012, 4:18pm   #11
 
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Re: Gnome's Trading Diary

a_gnome started this thread I've not done an update for several weeks so sorry about that. Usually in such cases it's because things have gone rather pear-shaped by in my case it's the reverse: things have been going very well, which is nice. There have been a total of 5 weeks trading since my last update and I'm pleased to report that they've all been positive ranging from +0.8% all the way up to +2.5% this week. After my rollercoster week last time I reported I realised that the key to success for me is being very selective as to when I trade by considering market context, market tone and higher TF's. When conditions are poor (as they have been recently) I can trade as little as 3 trades in a week and it's this discipline which is making me the money. This week I increased my size again and am pleased to report that I feel pretty comfortable with this new amount.

I'm starting to look at a longer-term trend following approach and have put on a couple of tiny trades to test the water. This could nicely complement my current short-term day trading.

I'm still tending to get out too early on trades: this morning I bailed on a trade taking +0.6% when I should have got at least +1.5%. But in general things are going well. I had an excellent Non-farm Payrolls report today, taking a total of +1.6% from 2 lovely little scalps in Dollar-Yen.

My trading statistics are as follows:

Weekly Summary
Total Weeks: 28
Total % Profit: 17.1%
Average Profit per week: 0.61%
Distance from Equity High: 0.0%

As you can see I'm at new equity highs which is always where I like to be. My average profit per week is creeping back up nicely though I'd really like to get it up above 1%: my rolling average over the last five weeks is +1.4%. Remember all this is with risking 1% per trade though I'm thinking in due course of extending this to 2% once I get to trading full size on my account. I know that I'm not officially looking at it but my Sharpe Ratio is now a nice 3.2

All in all it's going along nicely and I'll keep increasing the size every few weeks as long as I don't hit any snags.
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Old Jan 24, 2013, 12:33pm   #12
 
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Re: Gnome's Trading Diary

a_gnome started this thread I realise that I've not posted in my journal for several months now. This is mainly because things have been going rather well and I hadn't felt the need to unburden myself.

So what's been happening in the intervening months? I've been carrying on making money and increasing my size. My stats are now:

Weekly Summary
Total Weeks: 46
% of Weeks that ar Profitable: 74%
Total % Profit of Account: 29.2%
Average Profit per week: 0.64%
Distance from Equity High: 0.0%

My weekly Sharpe Ratio is a stonking great 3.7 which I'm very pleased with.

In terms of methodology I'm still trading a variety of techniques. My news trading is going well, I do regular scalp trades and short-term pull-back trades. I'm currently in the process of refining a long-term (for me) swing approach for when the markets are quiet. This is making some progress so I'm trading it at 20% of full size at the moment. Still risking a maximum of 1% per trade (or 0.5% for scalp trades) though I think that when I'm finally trading at full size I'll double this. I've got lots of ideas for strategies which I need to "refine". This refining process involves trading them in tiny size until I get the basics right and then in slightly larger size until they start to make money consistently before they get to be a fully-fledged official method.

So all in all it's going great. This year I'm up 5% already and from next week I'll be at a new larger trade size again. The size is now large enough that the money amounts are becoming quite significant. I want to make sure that I can handle these larger financial swings comfortably, knowing that I can make back any loss without too much problem. I'm at about one quarter my full maximum account size now. So, onwards and upwards!
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