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I've decided to go through my journal and pick out some of my comments on my trades that I took over the past month.

"Feel a little bad that I didn't profit from this one, as it was my 3rd trade this week where I was up a decent amount before getting stopped out at BE"

"Added way too early....I don't think that going for homeruns is my style..."

"The "non-winning" is taking its toll on my psych"

"...Don't feel bad about this one - range was holding pretty solidly the past few months and it was a high RR play. "

"Still, I don't feel bad because it was a very valid setup, one that I would have taken 10 out of 10 times. I don't think I would have played this any differently, but I am now thinking if its worth scaling into a trade. "

"I shouldn't have been too ambitious...Overall though, pleased with the win and I'm glad I pulled the trigger when I saw the setup."

"The good - wide enough stop, and put bigger units because I was convinced it was a solid setup. The bad - terrible entry. "

"This one sucks. Stopped out at the bottom, by the pip, then the pair zooms all the way up to hit my target."

 

There's a whole lote more where these came from, but looking through my journal, there are a couple of things that stick out to me.

 

First, it's that I'm getting a whole lot more comfortable just pulling the trigger and having conviction in my trades. Whether it's a good trade or a bad trade (although of course I'd like to limit the bad ones), I'm taking more trades and risking more. I'm also keeping in mind the RR ratios and trying to take all the solid, valid setups that have good RR ratios. 

 

The bad though, is still execution. Here are the problems for each:

Entry: Normally pick good entry levels, but sometimes a little impatient and enter, which ruins the RR ratio. 

Stop: Double whammy here - a lot of times my stop is way too tight and I end up not giving my trades enough room to breathe. This also happens as a result of trying to maximize my RR. 

Profit target: I've noticed that on nearly all my trades, I close ahead of letting my target get hit, or let it on and end up losing profits. I think that one Kiwi trade where I added too early and got stopped out at BE really hurt me, so now I am afraid to let my trades run. 

Overall, a decent month for my trading, although I'm a little disappointed because I feel that I could have made a lot more. I'll be working on setting more realistic profit targets and not setting such tight stops this month. Hopefully this will translate to the bottom line and leave me with some good profits.