Weekly review 18 May – giving it all back!

Saturday May 18, 2013.

Last week the account was up +69%. This week it’s down to up only +2.5% for the month. I’ve given up almost all the profits from last week. Attached is the updated trades log worksheet.

The main lesson is that this week was going to be a consolidation week after the big moves of the week before. But I approached the week in the same frame of mind as the last week, expecting big moves. I should have known after so many instances that a big week is followed by messy, choppy trading. I am posting a more detailed post-mortem analysis of the past week’s trades.

There is a behavioural lesson in the past week for me: I obsess too much over the trades, always monitoring them, jumping to conclusions based on a sharp move now and then. This results in over-trading or anticipating signals, for example, treating a stop-hunt as a break of support. Over-trading has been a long-term problem for me, and I am only making slow progress against it. I need to overcome this problem because when I over-trade I lose – the correlation is 100%.

Although the results for this week are bad, I have open trades which all together would add about 10% to the account, so it’s not as bad as it looks.

Blog Wksht 2013May18


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