ForexSpirit

There were effectively two different trading phases I went through in February.

The first of these actually started on January 26 when I returned to trading my scalping method. This phase lasted until February 13 where wide ranging action in the market left me flailing and indecisive. I’m fudging the monthly boundaries here to keep things simpler.

Finally getting stopped out on those final two losses is a large part of why the tally for those 15 days of trading ends up as -12.39%. The two losers contributed -15% so I was in fact ahead before booking those losses. You have to take your wins with your losses in trading so I can’t ignore them; instead I have to try and mitigate them, which is what my second phase of trading this month attempted to do.

Although it is too early to tell how successful these changes will be overall, my trading was tighter and more controlled for the remainder of the month.

Over the last seven days of trading in February my return was 15.03%. This great result came from 34 trades, 4 of which were losers (in fact, two of those four losses were -1 pip results from being slipped at breakeven, so there were really just two trades that were ‘proper’ losses).

If we take these two phases together, and since I am not currently compounding my returns in any way while just trading demo, it is easy to calculate my overall monthly return by just adding the figures together.

So -12.39 + 15.03 = 2.64% ‘monthly’ return.

Today sees the fulfilment of my prediction from last October that we’d see 7000 in the DJIA before 10000. Now if only I’d put my money where my mouth is I’ll forgive myself since I’m not a stock jockey and it was more of a passing observation rather than any sort of clairvoyance as to what lies ahead in these unprecedented economic times.