1st week stats - LIVE!
by, 11th-September-2008 at 06:07 PM (3303 Views)
Ok im not going to be able to trade tomorrow, so here is my weekly breakdown. LIVE for the first time
I started with $475 in my account. When i went to the bank i forgot about the transaction fee, so there wasnt enough in my acc to make it a flat $500, but you get that.
Im currently trading through Oanda with 5000 units (half a micro lot, i think ), my margin is about 37% for each trade. This means that each pip is worth about 60c. This way if my SL gets hit it is just under 1.5% of initial acc balance lost, this is within the 2% risk per trade.
Return for the week = 7.71%.
A few points:
1. My biggest loss was actually that trade I screwed up, where my TP had already closed my position.
2. The 2 big (>$10) winners make a huge difference, but even without them it is still profitable.
3. I need to either get my losers smaller, or increase my win rate.
4. I need to cut back on my stupid trades, and stop trading once i have my target.
Those things said however, i really cant complain as it was my first week and hopefully i can continue to charge on
Any advice/analysis appreciated.
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