Friday, August 29, 2008

August 2008. results

Well as you know I had blow up day this month. I hope that I will learn from it and leave averaging behind me in my trading life. Size of positions were 50% bigger than it is now so recovery will need more pips than it's lost.

- 257 pips

- 15.6 %

7 comments:

ORION MACHINE said...

That is just a number, and its already in the past and has no bearing on the trader you are at this moment. You know what to do, just keep doing it ;)

FX said...

:)

costar said...

How do you calculate profits and losses in terms of pips? Do you do it manually?

I have Oanda too and all I have is the transaction history which is in dollars, and since I scale in and out and my trades are different sizes, pips are hard to calculate

FX said...

I don't scale and if I do I count that as half size. So the pips are real pips counted manually as wins and losses for that day. I count them each day in the end of post. So from that I derive my pips count. It's little messed up this month because sizes were different but that is correct as sum of pips for month.

MarcoA said...

FX
Putting it in perspective, really an abnormal result. Even a very conservative risk per trade method could can have similar months. There will always be down periods whenever the market is out of sync with your method, which it has to be some of the time, since it's erratic and you're trying to be consistent.

MarcoA said...

I meant to say it was 'NOT really an abnormal result'.

FX said...

MarcoA that is true but I'm concerned with my emotional disbalance that led to this results I think that it's unacceptable if I want to have profitable trading.