01/11/2014: Trading - Week 04 Wrap-up

Trading Wrap Up for Week 04

     The following are the results for this past week.  I had a very good week, only having 1 losing trade.  I attribute my improvement to the knowledge passed on to me by Emmanuel during my coaching session last week.  I followed his advice and avoided what would have been several losing trades.  I also practiced patience when looking for nothing but the best trade set-ups.
     So, I end my first my first month of trading with the account I am trading being in profit by a respectable 6.9%  My goal of showing profit on the account for the first month has been achieved.  I hope to improve as time goes on.



Winners: 7
Losers: 1
Non-Triggered: 7
Winning Percentage: 41.7.5%
Profit/Loss Percentage: +2.64%
Total Account Profit/Loss: +6.9%

Here's to your success!

Bill McManus

01/05/2014: Trading - Week 03 Wrap Up

Trading Wrap Up for Week 03

     The following are the results for this past week.  I did have a pretty decent  week.  I did have more losers than winners, but with proper position sizing and risk/reward control, the account ended up in profit for the week.  
     I was happy to have an increase in the account this week, due to the number of losers.  So, overall I am in profit for my first three weeks of trading.  I hope the green trend continues into next week.  I want to end my first month with a respectable profit.





Winners: 5
Losers: 7
Non-Triggered: 0
Winning Percentage: 41.7%
Profit/Loss Percentage: +1.58%
Total Account Profit/Loss: +4.26%

Here's to your success!

Bill McManus

01/07/2014: Coaching session #3

This morning I had my 3rd Forex coaching session with Emmanuel via SKYPE.  The first thing we did was go over some of the questions I had.  I had questions regarding taking trades on Sunday when the markets re-opens at 6PM, should I close my open trades on Friday when the market is about to close at 4PM.  I also had some questions on some of the trading concepts and if they can be taken against the major trend.  I had several losing trades using one technique and found out I was not implementing it correctly.  Than you Emmanuel for clearing up my issues.
     We then went over my trading log.  I use my own version of the trading log.  It is a spreadsheet with the entry, stop-loss, take profit level, risk and outcome with comments.  I also include a screen shot of the trade set-up captured at trade entry..  This way, I can go back and re-analyze a losing trade to see if I may have entered incorrectly.  This also allows Emanuel to easily go back and review a trade set-up.
     We reviewed some of the various trades I have taken over the past 3 weeks.  Emmanuel said I was doing very well and I was grasping the concepts nicely.  The account I am trading is currently up bout 3 1/2% and he said that was good.  We discussed weekly/monthly percent increase goals.  But Emmanuale said that is all individual and based on your overall plan.  I need to meet with Greg to discuss the big picture and then define some monthly goals for profits.
     When we wrapped up Emmanuel told me to focus on the areas I had questions on and only take great trade  set-ups.  He told me to schedule another training session for 2-3 weeks out.  I was pleased with the session and I am grateful to have such a great trading coach to work with.

Here's to your success!

Bill McManus