Analyzing your Trading stats Month 6

26 Nov Analyzing your Trading stats Month 6

#trad­ing­forex #forex #trad­ingjour­nal #day­trad­ing #trad­inglifestyle #day­trader­life #track­y­ourstats #trad­ingstats

So you’ve been trad­ing for a while. How do you know what to look for? How do you know what you are doing right and wrong? Which set­up works best? What time of day works best? How long do I let win­ners and losers run? How much is my expectan­cy? What is my risk to reward ratio? In oth­er words: how much mon­ey am I putting on the line to make how much? Just by look­ing at these stats you will get real insight into your strengths and weak­ness­es. Do not over­look this. Do not be one of those peo­ple that just trade and trade and trade but nev­er review and won­der where they went wrong. You need to know what to improve upon. 

Thank you for fol­low­ing my progress

First off. For those of you that have been fol­low­ing my jour­ney I’d like to give a big thank you! Almost every­day I upload trad­ing plans and a Dai­ly Report Card. I sin­cere­ly hope my jour­ney some­how adds to your own.

Upslop­ing curve continued

For those of you that have been fol­low­ing my trad­ing jour­ney know that I was in a draw­down. One month of seem­ing­ly doing every­thing wrong had tak­en away all my gains and then some. Now how­ev­er I can say that I am out of the draw­down and am well on my way. 

The stats that I am about to share with you help me track what I deem to be impor­tant. These most­ly focus more on my process than actu­al­ly mak­ing mon­ey. Process is king. Mon­ey is just a result of per­form­ing well on your process. Let’s get to some stats.

DRC Track­ing Stats

This time around I am not going to write out all the details of my DRC track­ing sheet. One… it is redun­dant. Two… well it is redun­dant…. I’ll address a few details under­neath. If you have any ques­tions feel free to con­tact me. 

Here is my DRC track­ing sheet for novem­ber with the raw data:

And here it is when aggre­gat­ed and com­pared to the pre­vi­ous month.

Equi­ty curve

Start­ed the month with +3.32% and cur­rent­ly I am at +5.77%. My prof­itable trades this month gen­er­at­ed 2.25%.

Sep­tem­ber:

Octo­ber:

Novem­ber:

Trades

I took 8 trades in Novem­ber of which 6 were win­ners and 2 losers. 

I don’t like focus­ing on the trades that work because they will take care of them­selves. So here I will dive slight­ly deep­er into the 2 loss­es I had. Espe­cial­ly the ones that hit a full stop loss. The rest I feel are of less impor­tance. From expe­ri­ence I can tell that if the trade goes against me quite quick I should not have been in the trade to begin with. 

2 loss­es

The first loss was on Novem­ber 12th and it was because my SL place­ment wasn’t right. It got hit right on the pip before head­ing my intend­ed direc­tion. The SL was cut­ting through M30 for­ma­tion and this is a sign I should not have been in the trade to begin with. Instead I should have looked for a bet­ter entry. This then went on to become my week­ly goal. More details you can find here:

Dai­ly Report Card 11122020

The 2nd loss was on the 24th. I had tak­en the trade dur­ing C. Which is not a good Entry TPO for me. I have proven this over and over. Nonethe­less… I went for it using a M15 price com­bi­na­tion. I could have wait­ed for a retest before get­ting involved which would have giv­en me a bet­ter SL place­ment. I real­ized it was near a round num­ber and cut my trade in half to reen­ter lat­er. In the end this whole trade end­ed up in 0.5R. More details you can find here:

Dai­ly Report Card 11242020

Plan

I am in the process of com­par­ing prop firms and their chal­lenges to get fund­ed. Still work­ing on this and might do a sep­a­rate arti­cle on it. I had hoped for more trades this month but with the US elec­tions it real­ly wasn’t right to have that expec­ta­tion. I will focus on con­clud­ing Decem­ber with an upslop­ing curve before enter­ing one of the ‘hard­er’ prop firms. Hard­er in the sense of more strict guide­lines to fol­low. Recent­ly came across the 5%ers and they seem inter­est­ing. Might even just start it next week as the dura­tion to pass is 6 months instead of 1 month with a 2nd month con­firm­ing your results etc…. This would also help with any ‘dryspell’ poten­tial­ly in Jan­u­ary although GBPNZD should hold up fair­ly well. 

Month­ly goals (pre­vi­ous)

• Con­tin­ue track­ing hypos
  • I enjoy track­ing hypos and the poten­tial out­come. It sets me up to be in line with the mar­ket nar­ra­tive. At the same time it allows me to gath­er data on a par­tic­u­lar price action or order flow event and how often (or not) it hap­pens in a cer­tain set­ting. This hope­ful­ly will allow me to find bet­ter entries in the future. 
• Focus on my own progress and less on others
  • I did well here. I did start kin­da think­ing I want to go faster. A lit­tle though…  Espe­cial­ly with hav­ing less trades this month. Can’t force it though. It is what it is and I just have to go with what the mar­ket gives me. 
• Feel­ing okay with NOT trading 
  •  I did okay here. I do feel a sense of empti­ness when I am not in my flow of dai­ly rou­tine and at my desk trad­ing. This is prob­a­bly a bad thing so I went and start­ed new hob­bies to take my mind of things.
    • Fol­low­ing F1 rac­ing while I (and friends) race the prac­tice, qual­i­fy­ing, and race vir­tu­al­ly of course. 
    • Start­ed a book club again. I have the need to con­stant­ly pick things apart and then tell oth­er peo­ple about it. Why their opin­ion sucks over mine. All that good stuff 🙂 Kid­ding here…. I just love explor­ing ideas for the exploration’s sake and then dis­cussing them. 
• Don’t trade dur­ing TPO C, unless there is a momen­tum trade
  • Well, I took one trade dur­ing C that didn’t work out too well. So there is that. I will refrain from it next month as well. Unless there is rea­son for a momen­tum trade like price being in a trend. Please bring back trends! Just been rang­ing all over… Ah well… Can still make mon­ey in rang­ing markets. 
• Have ‘qui­eter’ weekends
  • Did well on this. Stayed in. Only went out once. Will keep this up.
• Min­i­mum of 3 days of work­ing out, aim for 5.
  • I did well here. First week I went 5 times. 2nd week 4. 3rd week only 3 times. I am see­ing a pat­tern here….. But still… I did well and I will keep it up. It makes me feel more ground­ed. More ener­gy. All that good stuff. 

Month­ly goals (com­ing)

• Con­tin­ue track­ing hypos
• Focus on my own progress and less on others
  • I don’t need any val­i­da­tion from any­one. With all the work I put in I already have a good under­stand­ing of the areas where I need work.
• Feel­ing okay with NOT trading 
• Don’t trade dur­ing TPO C, unless there is a momen­tum trade
• Have ‘qui­eter’ weekends
• Min­i­mum of 3 days of work­ing out, aim for 5.

If you have made it all the way through… Here is a FREE LAMBO!!! 

Sor­ry no Lam­bo. Nonethe­less, I great­ly appre­ci­ate your inter­est in my jour­ney. I’m sure it is not an easy read as I tend to get long-wind­ed. If you have any com­ments or sug­ges­tions feel free to let me know. Even though I do like writ­ing I don’t con­sid­er myself to be much of a writer. I rather talk or play online games 🙂 Reach out to me. Let’s hang. Talk. Some Call of Duty: Mod­ern War­fare, Sim Rac­ing or Sim Fly­ing per­haps? 🙂 Let’s team up. Con­tact me for my Dis­cord chan­nel details.

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