12/27/2013: Trading - Week 02 Wrap Up

Trading Wrap Up for Week 02

     The following are the results for this past week.  I was a lot more comfortable in determining my position sizes and risk:reward ratios this week.  I had several questions and emailed Emmanuel each day with my questions.  He was quick in replying and I have a much better overall understanding of the strategies.   Thank you Emmanuel!He suggested I get on his calendar for a coaching session for after the holidays.  I scheduled a training for January 7th.
     I did not place too many trades this week.  I was out of town on Monday.  The market was pretty flat on Tuesday.  Wednesday was Christmas.  I was traveling out of town but did manage to place some trades using my smart phone.  I placed a total of 9 orders, 5 of which were triggered of placed live.  I won 3 trades and lost 2.  I did make a mistake on one of the losers, price was within the Moving Averages, also known as "no man's land".  So, I should have not taken that losing trade.  Once again I learn from my mistakes.
     I was happy to have a 3% increase in my account this week.  So, overall I am in profit for my first two weeks of trading.  Next week we have New Years Day, but I hope the market volatility will pick up a bit and I can place more trades.

Winners: 3
Losers: 2
Non-Triggered: 4
Winning Percentage: 60%
Profit/Loss Percentage: +3%

Happy New Year Folks!  I wish you all a very prosperous 2014!

Here's to your success!

Bill McManus

12/21/2013: Trading - Week 01 Wrap Up

Trading Wrap Up for Week 01

     The following are the results for this past week.  I took my first 3 trades at the end of my coaching session with Emmanuel.  He wanted to make sure I understood the money management principles and how to calculate the correct position size based on the 1% risk per trade.  Of the first 3 trades, only 1 triggered and it was a losing trade.  Many people would begin to get scared off with their first trade losing.
     After I got home I spent a lot of time reviewing my notes.  I did not take a great number of trades as I wanted to get used to the set-ups and ensure I knew how to calculate position size based on risk, etc.  The following 2 trades were winners.  The 2 after that were losers and the last trade was a winner.  So I had an equal number of winners and losers and ended up the week with a small loss of 0.3%.  During training they told us that most students usually break even in their first month as they are getting used to the new trading platform, strategies and money management.  And they expect us to make mistakes as we learn.
     I am not discouraged at all.  As I stated before, there was a big focus on trading psychology and mindset.  Also, I did make some mistakes.  Two of the trades I took, I really shouldn't have.  I realized after I had already placed the trades.  I learned from my mistakes.  My goal is to end my first month with profit.  I am hoping to show a gain next week.  However, with next week being Christmas week, I do not expect too any trading opportunities.  I expect the market to be flat and I will be traveling for a few days next week.

Winners: 3
Losers: 3
Non-Triggered: 10
Winning Percentage: 50%
Profit/Loss Percentage: -0.3%

Here's to your success!

Bill McManus