As the year of trading is coming to a close, I couldn’t help but wonder how my many subscribers made out this year. If the averages are correct, many of you are still struggling to find your way. A few of you are probably on the sidelines while, I am sure, a few of you are doing fairly well. If it didn’t happen for you this year, you can quit or buckle down and find out why.
I would love to hear how you did.
I was able to slow right down in my trading early this year. A low risk entry x2 on long AUDUSD as a position trade worked out very well. Add in the positive difference in the interest rates between the AUDUSD and it wasn’t only the pips that made the money. Near the end of the year, I just scaled back risk and only took positions on a day basis when there was some sort of news release. It certainly made for some slow weeks!
A little lax in updating the blog. When you are not trading on a daily basis you get out of the groove. If you followed the link in one of my last emails, you saw that many of my posts were ending up on a blog that is ran by a trading company called Netpicks. I don’t make money from my blog so when they offered to pay for some postings I thought “why not?”. If you missed the link to the blog, here it is: http://www.atradingplan.com/nptips
One thing that I talk about ALOT is tracking your trades. For those of you who didn’t do very well this year, you truly need to get on top of that. Even for those that did well, this can only make you better.
Netpicks is offering you a “Trade Analyzer” spreadsheet for no-charge.
Now, at a glance, you will know:
- Important Trade Statistics like Profit Factor, Expectancy, Expectation, Avg Wins/Avg losses, Net Profit, Number of Trades, and more…
- Various Summary Studies of your trade data so that you can see stats on specific elements of your trades
- Set up Types where you can track statistical information for 5 different setup types depending on how you label your trades (Breakouts, Reversals, Trend, Against Trend, Reentries, for example)
- Compare stats of Longs vs. Shorts; am session vs pm session
- Wins vs. Losses; learn their characteristics so you can make subtle yet powerful changes to your trade approach
Can you see how this will help you zero in like a laser on things that can help increase you profit??
Like I said, this is no-charge so make sure you grab yours before they pull the link. Click this link to download yours: http://www.atradingplan.com/tradeanalyzer
So drop me a line and let me know how things are going.
