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Another good week trading with eight discretionary trades tallying up $9,370 in profit, a third of which came from closing half of the long platinum trade.
Here's the discretionary trades for the week:
There was a ton of automated/EA trades this week. I'm beginning the process of optimizing the EAs for each symbol. I'm looking for fewer trades with improved profitability.
A summary of the automated trades can be found in the attached pdf.
Looks like you need an 80-90% win rate to pull this strategy off and it looks like your doing it. Congratulations, you have a great ability to read the market. Would you say you buy weakness and sell strength in general?
No doubt I've had a high win rate. Part of my path to success has come from taking quick profits rather than swinging for the fences. Seems like every time my eyes grow and I think I can hold out for a big win I get completely rinsed.
I don't look at risk/reward when I enter a trade. I usually look at s/r levels for targets and often time end up closing before price reaches the level. Often times it continues to the level, but there's enough times where it isn't reached and price reverses.
I've been watching the tape for decades now. I'd say that I buy/sell momentum divergence in oversold/overbought conditions along with sometimes simply trading in the direction of momentum.
Here's the stats for this account. As you can see there were some false starts. I wish I could reset the stats from the beginning October 2023.
Eight discretionary trades tallying p/l $6,373 for the week. I feel like I got lucky with a couple trades that had potential to be trainwrecks. That's for sure a wakeup call. I'm up ~$16k for the month. It would be colossally stupid to blow it. The last trade was Thursday. Knowing there was some US economic releases coming soon, I was begging to get out of the trade beforehand. I got a break and the market tanked on the news.
I re-entered a long contract in July Platinum for a total long position of two contracts.
Here's the discretionary trades:
Again, a ton of EA/Automated trades. Optimization is an iterative process that is a bit more challenging with futures versus forex. Attached is a list of all the EA trades. Here's a summary:
Here's the charts for the discretionary trades:
#1 & #4
Two discretionary trades the last two days of the month to round out April for a P/L of $856. I was super cautious these last two days of the month. I told myself not to trade at all, but saw a couple decent setups.
The month of April closed with a profit of $17,026.33. This includes the largest losing trade this year of -$8,500.
I'm extremely happy to continue exceeding my goal of $10k average monthly profit. My goal is to get the account above $100k before I take any distributions. I am taking somewhat of a career pause this year to see if trading full-time can be a reality.
Back to trading...I carried over two long July platinum contracts into May.
The EA/Automated trades continue to churn with tepid results. I need to dedicate more time to optimization. Attached is a list of the EA trades and here's a summary for the last two trading days of the month:
