Helenqu's Trading Log

[FTSE Beater]

Hi Helen

Looking at your trading log, I was wondering if it wouldn't be better to take it week by week, instead of thinking how much the account is up overall. I think this might be holding you back psychologically, and when you ready to hit the trade button you might be subconsciously thinking:

"if this trade doesn't work out then I'm back to square one"

instead of thinking

"this trade will get me closer to my target for the week"

With your hectic lifestyle, then it might be worth saying every x number of hours, my target is to make £x.

All IMVHO

PS: I know you'll give me the same advice at some point

 

[Helenqu]

Hi Mark,

I've been really trying to get at the roots of this block this weekend and I think I have probably got there. But next week will tell I think a realistic target for my system is one trade an hour during the hours I can trade (9-11am). If I were able to trade after the US opens the potential improves somewhat but I'm not going to be able to do that for some time yet. So if I were too look at it on a daily basis I would be looking at a target of 10 points or so.

66 trades with the system and still flat really isn't too awful given the fact that there have only been two trades where I felt I had got everything right

Cheers

 

[options]

Helen, why target one trade an hour? You put undue pressure on yourself that way.

If the trade isn't there, then it simply isn't there and you should do... Nothing.

Step back a bit, go for one trade per session. Again though, if the trade is not there you cannot make it happen, and the chances of taking a trade you are not happy with increase just for the sake of trading. One step on from this is the market then controls you and it should always be the other way around.

Only take trades you are 90% or more happy with.

It doesn't matter if your journal reads,
Mon no trade.
Tues no trade
wed no trade, etc etc

At least this way you maintain your prime objective. Capital preservation.

Good fortune.


Options.