My $500 account trading challenge

On the days that I have traded this week there have still not been many trade opportunities and those that have been signalled have had smaller targets. But hey, we can only take what the markets want to give us and I guess this week they didn’t want to be too generous.

The plus side is that I have not had a losing trade and I have added $35 to my account. This takes my total to $140 now so still very slow and steady.  But that means I'm now 28% up on my trading challenge.  The plus point from this week is that it is another week that I have stuck to the process and that is something I would like to focus on in this blog. Mainly because I think focusing purely on

process and what I can control has played the biggest part in turning my trading back around.

It is also something that Inteligex makes incredibly easy for you to do.  Before, when my trading was inconsistent at best, I was very profit focused, whether that be daily or weekly targets.  This is obviously something that is out of your control as a trader, because if the markets are range bound then there are few to no opportunities to make money.  The worst thing that you can do is to try and force trades as generally you will just lose money and this is something that I was definitely guilty of.

Now the only thing that we can control as traders is what we do, when we trade and how we react to the market. This is where having a process and sticking to it and where Inteligex comes into its own.  If your process is to only take signalled trades then in a range bound market there will be no signals meaning you stay out of the market.  Which most importantly means that you can’t lose money.

Therefore I now rate my trading performance on how well I stick to my process, rather than how much money I make or win.  This means that some days I may rate my trading performance as 10 out of 10 but not actually take a trade, because I stuck to process.

Now I still have work to do as I do sometimes take lower risk trades than I should. This is mainly when I am behind and clearly I still need to get more comfortable losing and having a negative balance for the day.  But it does feel like an area I am improving in.  Also I still need to review my strategy and make sure that it is optimal because there is no point sticking to a process that doesn’t work!!

But again with Inteligex if your process is to stick to signals, filter out lower risk trades and use the stops indicated and don’t revenge trade you should be on to a winner.  If only the old brain would allow it to be that simple. Ha!!!

Anyway until next time…