May 302014
 

April was a good month for me so the challenge was to keep it up for the month of May.   I thought May gave me less to work with.  It seemed the market balanced in the last half of the session more often.  Many days I didn’t even look for a trade.  But I still managed to do ok.  My goal is for a profit factor > 2 and this month it was 1.78, slightly short of 2 but still good.

Yesterday I had bad luck, stopping out by a tick and missing a nice run up:

2014-05-30_2127_thursday_loser

I followed my setup perfectly so I didn’t get upset but I was still disappointed.  Today I got a chance to take another good trade and this time it worked out.  It’s good to end the month on a great trade:

2014-05-30_2128_friday_winner

So there are two examples of trades I took.  I’m trying my best to detach myself from the results and just take my setup and follow my rules.

And here are the May results:

2014-05-30_2147_may_results

I’ve been pretty much keeping to myself.  I collaborate with my trading partner but other than that I don’t participate in forums, read trading books or websites, or anything else.  I don’t even think about trading.  I just turn on my monitor when I get home, look for a setup, set an audio alert in an area to do business, and go about my evening activities.  I initially felt this  “hands off” approach might be inferior than staring at the screen for hours “getting context” “reading the bars” “seeing the action” and all that stuff, but now I think otherwise.  Being detached has helped me to stick to a simple setup and just grind it out.

I actually only took trades on 9 days this month.  The rest of the days I either didn’t see a setup, or was not around the house due to my activities and being taxi for the kids.  $250 isn’t that much but with consistency I can slowly increase size.  And that’s where this gets interesting.  But one step at a time.

Good luck to you with your trading.  Cheers.

 

  4 Responses to “May Results”

  1. I enjoy following your journey.
    I’ve been a fan for years.
    Thanks

  2. Hi Scotte,

    Thanks for the feedback. June has been disappointing, I haven’t traded much due to the kids end of school year activities but also the market has spent a lot of time balancing with several overlapping days. I am hoping for a good setup on Monday.

  3. Hi Michael,

    I’ve found your blog by searching FT71 on Google.
    It was nice to read about your progress and thoughts, post after post…
    I hope you are doing well and keep up with the blog.
    Thanks for sharing
    Rob

  4. I too found your blog searching FT71 on Google. Over the last two days I followed your trading journey and I would like to think you for sharing. I hope to read more about your trading and IT consulting journey,

    I’m an IT Infrastructure Manager looking to retire in 12 years and pursue trading as my next career. I’ve given myself 10 years to develop myself into a consistent trader and based on your blog I’m glad I put that in my plan.

    I truly hope all is well in your life and that you’ve reached your trading goals.

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