My Weekly Trading Journal, Wk 1 2024
Summary of my "adventures" as a daytrader and Scalper in Crypto (Futures mainly) and Stocks, Forex and Commodities.
I use two different trading platforms, for crypto I use BINGX (No KYC required), very low commissions and good service.
For Stocks, Forex and Commodities I use DARWINEX, a fully regulated broker and METATRADER 5 platform.
Summary of the Week:
It hasn't been a bad week, perhaps in crypto I have had more "instability" given the comings and goings of the market regarding FOMO and false news related to the approval of BITCOIN ETFs, SEC hacks and shitty statements from Gary Gensler...so I've stayed pretty "conservative" about it without risking too much. Even being conservative, this week I am at -1.71% drawdown compared to last week, however, so far this month (12 days) my profit is still 7%.
Regarding Stocks, Forex and Commodities, this week I have dedicated more to FOREX and something in commodities. FOREX has been excellent but my "bets" on oil and natural gas have not gone so well (it seems that we have had problems in the red sea lately), however, it has been a great week obtaining a profit of 1.37% that gave me It helps a lot to exit from a DRAWDOWN of -1.9% the previous week, so we are close to recovering what was lost.
Some data from my operations during this month:
Crypto Trading:
Total No. Trades: 39
Win Rate: 64.10%
Profit Factor: 0.9178
Trading Stocks, FOREX, Commodities:
Total No. Trades: 29
Win Rate: 55.17%
Profit Factor: 0.7560
I risk 0.5% of my account per trade with a maximum daily risk of 3%.
Conclusions and Objectives for next week:
I am comfortable with the Win Rate in crypto but I have to improve it in "Traditional Trading", on the other hand, I would also like to improve the profit factor to get closer to values above 1 and thus gain more security in my operations, for this I must close losing trades earlier and hold on to the winning ones a little longer...this is the most difficult thing to do since it depends a lot on each person's psychology.
https://twitter.com/LovingGirlHive/status/1746305034915291388
https://twitter.com/jewellery_all/status/1746350509424824692
I think this will also be useful for me if I have my own trading journal also
It looks like you are doing great in the crypto trades. As for stocks/forex, I think the fundamentals matter a bit more there. There are a lot of different things to consider such as earning reports and other stuff. Also, pay attention to the indexes for the general breath of the market.
Post manually reviewed. 😊
Thanks
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The good thing is that you are calculating all the things, the advantage is that the profit and loss of all the things will be displayed in front of you.
you are doing good
keep it up.