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07
Nov

0

Edgewonk Journal Review #1

In our last post we announced that we’re starting a new video series where we review your Edgewonk trading journals (click here for the rules and more info).

Today we’re starting with our first video and thank you again for all the submissions so far. We look forward to your journals!

 

 

To sum up the most important findings, we have compiled a list for you:

  • The trader is going into the right direction. His equity graph is trending profitably towards the top right
  • His focus should be on the process. His data shows that he loses most of his money when he is breaking rules
  • His system seems to be profitable as we can see by looking at his well-executed trades based on positive comments/tags
  • Some setups perform better than others. The trader should look closer into the underperforming setups
  • His stop loss and take profit placement shows inconsistencies
  • Stops seem to be too conservative and he is reducing his potential expectancy
  • Take profit orders are either set too far away or the trader closes his trades too early
  • The Trade Management tab shows that a passive management approach would perform better
  • The Simulator confirms that the trader is likely to experience high account volatility. 

 

Improving performance step by step

The next step now is to start making small and targeted adjustments while observing the impacts of those changes.

Whenever you are making a change on your trading strategy or approach, it’s important that you do not change everything at once because it’s impossible to analyze the effectiveness. It’s better to do it step by step so that you can see how your changes impact your performance. 

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