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:
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:
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:
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.