Hey guys, this post is actually well over due, I had one of my best trading days this month and it may turn out to be my best week yet. My risk was consistent and lots size in control, everything on point. In addition to that I was sooo very close to break even (2K)(by the time I wrote this I was already 10% for the year 🙂 then back down to -40% and now coming back to this again 2 weeks later im 5% for the year after doing a huge YO-YO in my equity curve. below you’ll notice I had a good 2 days to start and then massive drawdown for the next 4 days. I hate when loses come, I feel loses are obviously inevitable in this business but one must always control the risk or you will blow the F up.
anyway I’ve been meaning to write this post since May 10. “Am I ready?” It’s funny because the post before this I talked about almost making it and essentially being ready. Next thing you know I blow 700 in a day. I think fear is always a good thing just not while trading. My biggest fear right now is to not be successful as trader once I decide to leave.
Can’t remember where I was going with this post so I will stop here.
My goals going into next week and to follow for the rest of the year:
- not trade on friday
- keep my risk consistent
- only take my BEST TRADES!!
- control my damn lot size for the day and my trade limits!
anyway wish me luck,
its been while since the last time I posted self destructed back in January. A lot has changed regarding how I trade. The biggest thing that shifted my trading has been risk management and also my mentality towards tradings and making gains. Not only do I follow my risk management plan more strictly but I got some help. My “Risk Manager” really helped me realize again and again that this is a long term game. Ya sure, you can make 20% in a day but it doesn’t make sense to lose that same 20% an hour later or during the week because of over trading or emotions. Thats why its important to set daily goals and limits on your trading so you can really control the downside.
So back in January I grew my account from 2K to 3.3K in 2 weeks time between January 9th to the 21st. statistics below; you can see more details on forex factory.
now I will show you what happens when you stick to a plan that focuses on risk, controlling lot limit and having a daily/weekly DD. after January I made this drastic change and started to really focus on risk. below you will see my results from Ferbuary 1st to April 29. I had a whooping 164% return and a max drawdown of 36%( we are not all perfect, I’m definitely not proud of it but I did have 1 week of emotional trading. This actually made me lose out on 2 weeks of trading. Anyway on a week to week basis I will no longer had DD less that -10%.)
cant remember where I was going with this but I feel like if I continue on this course of monthly gains I can at least be comfortable once I decide to leave me job.,
Since I have a week and a half off I have had a lot of time to think & reflect about the long term & where I’d like to be as a trader and in my career. Truthfully I’d love to quit Continue reading “Work-Trade Life Balance” →