Friday, May 30, 2008

May 2008. results

I don't want to trade today, I want to rest from trading and finish the month on good note.

+90 pips

+ 3.5 %

Smaller than last month but it's good enough. I have now 9 consecutive profitable weeks, 2 months. Let's move on with consistency. It's rebound from the low point more than two months ago when I asked my readers for an advice and chose to stick with exclusively scalping. Thanks all of you on comments and emails.

From next month I will up my size for about 50%. It's just getting back to the point where I've been before cutting the size. Leverage will be about 5.5 for full size positions and half that for half size. I will set up platform to only open half size trades. I stick to calling that half size, I explained my mind game few post before. So let it be, let's cut everything in half it's easier to have 90 pips of profit than 180 pips that I had this month lol. I still average a lot and I have to consider that so when I add position it's full position, it's just money management suitable for me.

This month market was little different and not so good for my taste. Little to slow and rangy intraday. I had few bad days with bad decisions. I was to much looking for swing trades in scalping market. In the end it's profitable and I'm satisfied.

Scalping showed as profitable and successful way of trading. It's easier for me to read next 10 pips than next 50. Also I don't have staying power for longer profitable trades. I chose not to fight with that. The best is when I'm in strong goal oriented structure in my mind to take the profits fast and run away.

We will see how will I react to bigger leverage, the best would be to have no reaction and just trade pips and not dollars.

Good trading next month to all of you.

1 comment:


Trade pips not dollars, some wise words and I definitely agree...