Trading Plan: Monday 11 November

Welcome to this week’s Trading Plan.

I’m Ahmad, a non-professional trader from Malaysia who’s participating in the darwinex Zero platform.

I’m trying to achieve consistency as a profitable trader and am documenting the journey in these posts. In a way, this is my public trading journal.

Trading is a very personal pursuit in that it is most difficult to do well successively over an extended period and that no two traders can apply the same techniques or strategy to end up with the same results. Emotion control is a significant factor that decides how well you do in the markets and all good traders settle with a strategy that is most fitting to their psychology.

I ended the 4th Nov week at position 4120/7119.

Trader’s self-review

1) What went well?

This week went according to plan. No sizeable FOMO-driven entries and so I was able to bring lot size under control. Being aware of position as well as a portfolio risk management is THE thing with darwinex Zero.

However, profits didn’t scale to new levels. Total portfolio is up slightly over one percent for the month and I have yet to reach 60s in percentile ranking. To earn the minimum allocation for seed funding, I need to finish above 75th percentile.

2) What went wrong?

I was not able, or rather, did not empty my positions as US Election 2024 came to a close which would have reduced my risk to zero. The thinking was my positions were not large enough but to boil it down to maths, I had a VaR of under 20% and accepted that risk. If I were to be managing my own funds, I think I would at least liquidate half my positions at the very least.

3) Improvement action plans

I’m still holding the view that dollar will stay strong. DXY stayed elevated after the election results. So did yields for short-dated as well as the 10-year and the 30-year US Government Bonds. Even with this view, the only way to extend my performance is to not simply go in because price levels are heading in the right direction but to enter on pullbacks and temporary mood shifts in the market. There’s always manipulation to get rid of weak hands. Will stay ready for that.

Also, since I’m in darwinex Zero, I continue to seize every opportunity to liquidate large lot sizes and keep new positions to be between 0.01 and 0.1 lots. Trying to bring VaR down to 7.00 to 10.00 percent if I can.

Trader statistics