Brewski's Most Successful Trading Month Ever!

[counter_violent]

I'd like to post a chart but I expect I'll just get a load of abuse posted from people about how stupid I am!

Thats the risk we all take...on the other hand, you risk not finding the answers.

Anyway, the short answer to your dialemma is "expectancy" Is your trade following your intended path.

 

[brewski1984]

Well it held up pretty good for a while but I did get stopped out. Lost just under 2%. That makes 2 trades, 1 winner and a total of +123 for the month so still my best month ever!

 

[brewski1984]

Looks like June has now become my best month ever! At the end of May I had about an 8% account increase, at the end of June I have around an 11% increase at worst as I have a trade still running from yesterday with 150 points locked in.

Took 7 trades = 1 B/E, 2 losses, 3 winners and 1 still running.
Total P/L = +95.2 points not inlcuding the open trade that has 150 points locked in.

There were a few more days I was looking at the market compared to May so that accounts for the higher amount of trades. I'm going to add a little bit more to my account again starting July. I'm only using a small account so it sounds like a lot but we're not talking hundreds of pounds and I'm working my way up! I'm sure it'll get harder and things will change as my position sizes increase.

How many months do I have to be profitable to claim profitability?

 

[rc450]

How many months do I have to be profitable to claim profitability?

when you close your account, that's when! edit as in when you close your last trade and retire from trading having made money, until then anything can happen.

nice going though, keep it up

 

[coopster]

Looks like June has now become my best month ever!

Well done Brewski, keep it up!

 

[brewski1984]

Thanks guys, closed that trade for +190. Wish I hadn't though as it was a long on the Dow closed not long before it shot up 100 points! Not sure whether it was a good decision or not? I didn't want to risk giving the profit back and I was going to close today either way as I don't like holding over the weekend.

How you getting on coopster?

 

[brewski1984]

Well July hasn't been so kind to me.

2 trades - 2 losses, both 2% of account. Still kept a decent profit since april though.

First 2 weeks of July I made no trades, third week I made the 2 then nothing this week either. I've looked over the trades a few times to see whether I got frustrated or impatient but I honestly think they were both good trades. Knowing that I'm going to update this kind of keeps me focused on taking only good trades.

I did however decide to open up a "gambling" account for some 10p per point action just to take away the trading itch. Is this a good idea or just a distraction that will start off small then actually end up clearing me out of a decent wedge?

 

[wackypete2]

Well July hasn't been so kind to me.

2 trades - 2 losses, both 2% of account. Still kept a decent profit since april though.

That's the point!. Keep the losses small enough so they don't kill your profits!

I did however decide to open up a "gambling" account for some 10p per point action just to take away the trading itch. Is this a good idea or just a distraction that will start off small then actually end up clearing me out of a decent wedge?

CLOSE IT. No good will come of it

Peter

 

[brewski1984]

Yeah I figured it would probably do more harm than good. Maybe online poker instead?

 

[wackypete2]

Yeah I figured it would probably do more harm than good. Maybe online poker instead?

Online strip poker?

LOL

Peter

 

[brewski1984]

At least I wouldnt lose any money, just dignity instead!

 

[DionysusToast]

Looks like April was the most profitable month I've ever had in my whole 6 month trading career:

Total Trades = 0
Total Points = 0

Total Cash P/L = 0

If every month was this good I'd be loaded!

Tell you what - if you can now increase the total number of trades and keep the other parameters the same, you'll be well on your way.

 

[kenny10pips]

hey brewski is a unique name do you use it on any other threads.

BTW first post just a shout to all

 

[brewski1984]

Random

 

[brewski1984]

Tell you what - if you can now increase the total number of trades and keep the other parameters the same, you'll be well on your way.

Made a good start on that already! First day in August, one trade and I'm out for breakeven. Annoyingly, I'd be in a decent profit if I hadn't moved my stop but it's irrelevant now I guess.

 

[barryb]

Made a good start on that already! First day in August, one trade and I'm out for breakeven. Annoyingly, I'd be in a decent profit if I hadn't moved my stop but it's irrelevant now I guess.

Good luck Brewski, i'll be following your progress.

 

[brewski1984]

Thanks barryb. Nothing exciting in here though really, just be updated at the end of every month. Maybe I'll post up some charts of trades I've taken somewhen, depends how they work out

 

[brewski1984]

CLOSE IT. No good will come of it

Peter

You were right!

Got lucky and made a load on the DOW on monday, about 600 points so a massive £60. Gave it all back plus a little bit more today

I know it's only pocket money but I can see where this is going so gambling account closed!

 

[brewski1984]

Well august has been an interesting month to say the least. I have very detailed journals and thoughts on the trades that I have done. Anyway my results are:

8 trades – 1 loss of 2%, 1 loss of roughly 0.5R that I cut early, 1 win of only roughly 0.5R that I trailed and 5 breakeven trades.

Since the start of doing this system my spread sheet shows a monetary loss of £10.26 but a points gain of 220. The winning trades have been at the start when I was trading smaller stakes and the losers have been at bigger stakes wiping out my profits.
I have a feeling that the increase in stakes is having quite an effect on the way that I trade. Also the challenge of increasing the amount of trades but still not losing points has made me move my stop to breakeven far too early. I see a profit of 10-20 points and then move my stop to evens because the monetary value is higher and I don’t want to lose it whereas before I would just let it run. The monetary value of the trade is stopping me trade properly.

How can I make a profit if my losers are run until stop but my winning trades are taken out for breakeven? Fair enough, a couple of the breakeven trades would have been stopped out had I not got out for breakeven but the couple that would have won would have covered those losses. I think I will add a rule that once I’m in a trade I will not move my stop to breakeven but give the trade room to breathe, which looking back is exactly what I did at the smaller stakes.

Now the question is, do I decrease my account to a level where I’m more comfortable or do I keep it at this level and fight these demons? I didn’t really care about losing 2% on the smaller account but now I do and it’s affecting my results.

 

[wackypete2]

Now the question is, do I decrease my account to a level where I’m more comfortable or do I keep it at this level and fight these demons? I didn’t really care about losing 2% on the smaller account but now I do and it’s affecting my results.

Fighting the demons as you put it is a losing game. Read what you wrote here and let it sink in a bit:

I think I will add a rule that once I’m in a trade I will not move my stop to breakeven but give the trade room to breathe, which looking back is exactly what I did at the smaller stakes.

You appear to have a good idea of what is happening. Now just apply it correctly. Easier said than done, of course!

Peter