Last week did little to excite. I lost on a couple of early trades but pulled the week out of the bag with a nice short term divergence trade on GBPJPY. With 1% account in the bag by Wednesday I didn't see anything sufficiently interesting to tempt me back into another trade for the rest of the week.
This in itself is progress over where I was with my trading in the bad old days and whilst the week's gains have been modest, they are gains none the less.
At the conclusion of my 9th live trading week, 8 have been profitable and the account is 15% up, which is a better start than I might have dreamed was possible just 2 months back.
What am I learning ?
1. Modest, consistent gains are better for my mind-set (confidence) and my bottom line... over time.
2. Time spent analysing is infinitely more productive than market watching, since...
...Conviction is everything. If I really believe in a trade, I am prepared to load it up and stay with it... and it generally comes in.
This all rhymes with trading less, not more. If I only traded those set-ups I had high confidence in my profitability would jump again.
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