Taking $5K to $250K by year end

Week 3 Summary:

Total trades: 23
Contracts per trade: 2
Points won/(lost): 16.25
Net profit/(loss): $1,527.

Beginning account balance: $5,000.
Ending account balance: $8,620

% Increase (decrease) since inception: 72.40

Next week I will increase to 3 contracts/trade.

 

Nice journal, Allen.

It looks like to me that if you keep this up at anywhere near the rate that you are going, you should have no trouble blowing through your target.

But that's a big "if", of course.

I'll be watching and pulling for you.

 

Good stuff man, interesting journal. Keep up the good work!

 

Thank you for the kind words of encouragement.

 

Congrats Allen ... the fun is starting adding more contracts ... I'm really interested to see that you maintain your discipline. I wish you well.

 

I see that you had 16.25 points * $100 / PT = $1625.
Less: commission at 23 * 4.25 = -$97.75
Net $1,527.25

BUT shouldn't the Commission be 46 * 4.25 = -$195.50 because there are 2 contracts per trade and 23 trades ... for a NET of $1,429.50

Thanks

 

You are correct and thanks for pointing that out.
Week 3 Summary (revised):

Total trades: 23
Contracts per trade: 2
Points won/(lost): 16.25
Net profit/(loss): $1,429.

Beginning account balance: $5,000.
Ending account balance: $8,552

% Increase (decrease) since inception: 70.44

Next week I will increase to 3 contracts/trade.

 

Allen,

Thanks for making the change ... however for the sake of accuracy your 2 prior weeks had the same error.

 

You're doing a good job here Allen, but with the discrepancies that ol' eagle-eye bakrob99 are pointing out here, you might be better off just posting a blotter.

Otherwise, you're making some glaring errors here, because these aren't mistakes that anyone who is trading live cash would normally make (miscalculation of commissions is a classic paper trading mistake, but you're never going to make it with real money, believe me).

Nevertheless, I'm sure this is all real, and you're doing a great job ... it's just that people are of necessity analyze what you do and critique it.

Good trading.

 

LOL. Why didn't you point that also so I could have revised it? When I post next week, I'll make the pro forma adjustment.