Week Ending Oct 17th 2009

So weekly PnL: 383 pips.

Weekly Running PnL: 503.

Still long 1/5th Cable position @ 1.6061, SL 1.6052 and half Dllryen position @ 90.21 SL 90.05.

Notes from the week:

I took trades based on speculation and not on the system at the beginning of the week instead of waiting for the trades to come to me. This can be seen as over trading and needs to be rectified. Unprofitable situations need to be monitored, but need to set alerts in place so that opportunities are hit when they arise. I basically fought the Euro uptrend all week, losing 45 pips across several trades. That shows that I knew I should not take the trade, but still took them anyways, thus seen as gambling and not trading. Also was long Dllryen early, system showed weak bullish, but was on a retrace, went long. Not sure what to think of the trade but it cost me another 20 pips.
Trades that stuck to the system made 643 pips this week. that means I had 140 pips lost due to not following the system, or getting in too late.

Next Weeks Goals:
-Focus on entry, if you miss entry look for next one.
-Follow the system, take trades based only on the system
-Stick to what I know.
-The technical system I know well. This is my edge. I am still grasping money flow.
-Further work on money flow.