$500 grown to $780!

My summary for this week is... made money and grew the account but I'm still on a learning journey!

I started the week with a fairly big losing day of $44; it doesn't sound like a lot but remember I'm doing a $500 account test.  My goal is to see just how much can I grow a $500 trading account by using the Inteligex Trade Signals and Indicators.

Now the good news is that this loss was not down to anything like revenge trading, adding to losing trades or trading more contracts after a loss (all bad habits I have been guilty of in the past).   They were all just signalled trades that didn't come off.  However I think it would be easy to just say, "well I stuck to my strategy let's move on". 

But that's not how I roll anymore, I've become almost forensic about reviewing my trades.  So what did the review tell me, well none of them were in my opinion obvious trades that I shouldn't have taken, however they were not all high probability.  The training from Inteligex is always to focus on the highest probability trades as these are your winners and wins keep you calm and enable you to trade with a level head.  Therefore going forward after a loss I need to work on only taking the higher probability trades next to give me a better chance of reversing the loss and not digging a bigger hole.

The second area where I feel I can make a big difference to my overall performance is holding on to my winners for longer.  Now this is something that I feel can be a tough balancing act sometimes as no one wants a decent winner to then become a loss, but yet it is also important to bank your money!   Currently though I am getting stopped out just above break even on too many trades that go on to hit the interim crib.  So going forwards I am going to try and wait until I am closer to the target before bringing my stop up, essentially I will put more trust in the Inteligex system I know will benefit me.  Now this will likely be a more uncomfortable trading experience as I will see the occasion winner become a loss and some trades that will go profit, loss, profit loss etc. but I know the Inteligex indicated stops give me a great guide as to where my stops should be and the target cribs are incredibly accurate. 

A lot of trading is about being comfortable with discomfort.  I know that if I continue to make consistent profits it will eventually become easier to do.

Oh and quickly before I go. I did manage to recover my week and end up in the green.

Until next time....