You just highlighted his problem and his challenge: Making 1% consecutive wins? The odds is very small. He has to target a much higher win rate to achieve a 1% per day. I hope he is not another @optionsinvestor.
week 001 update: (changed all figures to $) overall summary day wise - trade wise - i just took a average margin price of the lot but it is actually higher now from the excel table this is where the end of the week looks like
week 001 analysis: start capital - 2816 end capital - 3865 profit - 1004 % overall - 35% % daily avg - 7% nifty range analysis best trading day - day 003 ie Wednesday. i was up almost 300$ but three consecutive trades caught me on the wrong foot and i had to exit on a big loss of booked profits thus far. (stop losses due volatility/area of value at that time were quite far off). once i realized i had no more profit to risk. i sat back and sat out, did not revenge trade and just watched / rode out the market storm for the day. no damage apparently but the loss of profit was not allowed to justify any stupidity on my part. that was the part i loved most. there will be losing days but i just want any losing days that arise from stupidity. there is always another day after all. worst trading day - day 004 ie thursday. i let the fear of the previous day play on my mind and was too cautious and more interested in arresting the downside and forming a bottom rather than trying to win trades. too defensive in my outlook. low risk does not always mean it is the most sensible option for a day trader. when things are in favour the calculated risk must be proportionally increased as well. not to self - trade the chart and not your memories. overall - not a bad week. next update - end of next week 002.
i trade the Indian markets and we have a holiday on the 02nd april ie thursday. The holiday/closure is exclusive to the NSE / Indian markets.
just to clarify - trying to be consistent at making at least 1% on an average per day of the start capital. of course there will be days that i make more or less than the 1%. but the key is not to let the overall average per day slip below the 1 % mark. or did i misunderstand what you were trying to say?. was it something else that you were highlighting?.
week 002 update: start capital @ week 002 - 3885 (week 002) / 2816 (start) end capital @ week 002 - 3819 profit/Loss: -66 $ loss / 1003 $ profit % profit/Loss : -1.69 % (loss) / 35 % (profit) % daily avg - 3.8 % (profit) next update end of week 003 - next week - just 4 trading days - monday holiday. disaster days - 1 out of 9 trading days. that is borderline stuff and living very dangerously. must convert the disaster days to bad days the next time when something similar happens. rest - it has been quiet but not a serious lapse of trading discipline - except for the start of the week when the momentary lapse in trade discipline was shameful and punished hard. target wise i am on track and will use the next three days to carry out a thorough inquiry and put in place rectification of this week monday's crash. by tuesday i should be fresh and ready as well as in a positive frame of mind to begin well and bounce back. looking at the positives - with vix at such highly absurd levels i am glad the damage was controlled quick and repairs carried out within the week itself.
To turn the worst into the bad is key. Make the worst better is 80% of the job done. Tabula rasa. You better have a blank mind when opening a new trade. Don’t let the short term ups and downs affect your processes. Do what has to be done, now. You’re up 38% within a two week period. It’s amazing. Maybe over leveraged, but nice. May the force be with you. Play great defense !