My $500 is now $755!

My summary for this week is I've added another $500 to my trading account.  So that is now $755 in total, which means I have grown the account by over 50% in less than 2 months!  If you told me I'd be able to do that 2 months ago I wouldn't have believed you.   But by focusing on how I trade and where I need to improve with a small account I've been able to do it.  That means I could have turned $5,000 into $7,555.

This week I have only traded 2 days due to work commitments.  I have however made money on both of the days that I traded adding

another $25 dollars to my account. Now the first day that I traded was only a $4 win, which on the face of it is nothing to write home about.  However I no longer rate my trading days based on profit, but whether I have stuck to the strategy.  And thankfully on both days I did ,therefore I would class last week as a good week.  In fact I shouldn't be so modest, given that I've now exceeded 50% growth I'd class it as a great week!

However anyone who has ever tried to become really good at anything will know that you must always look for ways to improve.  Particularly in trading because I know the market has a habit of taking its money back!  It's great to have a tool like Inteligex that gives you your trading strategy.  That means I just need to focus on taking high probability trades using the Trade Signals.

Therefore for me now my main focuses are to:

Stay Disciplined

If I have one bad day where I stop following the rules and succumb to emotion I know that I can easily lose all of the profits that I have worked hard to acquire. Therefore I always ensure that I complete the Inteligex Daily Checklist before I trade, ensuring that I am fully prepared.  This also stops me trading on the days when I am not in the right physical or mental state to trade at my best. I am also ensuring that I visualize myself sticking to my trading plan as often as I can.

Refine my Strategy

Sticking to the strategy is only half of the game.  More importantly is having a strategy that works for you. Therefore on a weekly basis I review my trades and my journal to look for areas where I may be able to improve my strategy. One thing I have noticed over the last few weeks is that on some days there are not many trades that meet my risk appetite during the market open.  However some days there are really good trades during the European session. So some days I may see if I can find a spare hour in the morning UK time to take some trades instead and see how that works out.

Anyway that’s enough from me for another week. Until next time….