11 weeks into my Trading Challenge

If you remember last week I was within touching distance of doubling my account.  Well I'm delighted to say that I've now done it ........ the account has doubled!

This week I have only been able to trade 3 days due to a lot going on in my personal life. And the opportunities presented at the times I traded on those days meant that I only managed to take 3 trades (it's been a choppy week out there!).  However these all looked like high probability trades to me, meaning I was able to take them all on 2 contracts.  I was also able to hold on to part of the trades past the interim crib giving a bigger win and resulting in $105 dollar profit on just those 3 trades.  This takes the current account total to $1,070.

Now a big part of me wants to see if I can now double it from here in a shorter space of time than it took me to double the $500 account. However I strongly believe that one of the biggest game changers to the improvement in my trading has been to remove any type of profit goal and to focus entirely on the trading process. Therefore I would be a fool to change and I am going to continue to just take whatever the market is willing to give me.

I am however going to take bigger contract sizes now on the higher probability trades and focus on holding on to my winners better. Now I know that I will get some more losers this way as some trades where I am a little ahead will reverse and become losers.  But only having small wins every time means it can take a lot of winning trades to make up for just one loss.  I just need to learn to identify when to hold and when to bank.  But hey there is always something new to learn

Until next time...