Thread: My way to highway

hi
February is finished, and so it the winning track record.
What an idiot move of me, getting to stop on the last day, with the last set of transactions of the month!
Before the day of 28th, the month was comfy up.
Then came GJ.
Entries started after it already passed the ADR, and did a few trading around when it started to collapse.
Help tight as it chose to test 147.
Lighten up on the rebound, and wasn't far from a BE.
Then it chose to get another down leg, and me decided to give up, getting tired, pulling basically an all nighter in my side, so, together with the final our of this trading day ( and being 4am past here) I let it go.
in retrospect it was a good and bad idea. It did head lower, and the entire SL would be struck, so, saved a few on that. It was a few points provided a milder loss (close BE month) that I might take.
In retrospect everything looks different though. I dont regret what've happened. The 10% SL wasn't passed, though was shut.
Trading has its own highs and lows, and now I feel down little, but that is temporary.
Likely avoid trading 1-2 days, to ensure I dont have the inclination to revenge trade, or attempt to do something other out of usual move. We people. Must need to tackle and deal with these difficulties.
One can only trade as long as one has funds, and for today, most of the capital is preserved. It's a dent, but nothing what has not happened before.

So, was speaking about February...
this month is a loss, down -6.34 percent on master.
Down on the prop accounts also, various degree, but in a corresponding manner ( less % loss).
Because during my holiday I took a few transactions in my 2x risk personal account, it is up, but not enogh to cover all the loss, though cancel out a chunk;
overall February is a down month. period.



so, what is next?
After getting back to my 'healthy' trading mood, it is recovery.
But recovery only in a feeling that trading as ordinary, only more careful.
Must admit, having couple weeks with no losing day makes me somewhat careless. Suspect I am not the sole falling to that, and several lose heavier following a winning period.
So, goal is recovery, and the timeline is mid-April.
That needs to be sufficient time to cope with it.

On a side note, the system #2 EA is doing good, and with the current bug fixing and fine tuning the bells and whistles I feel it is about to prove itself.
Interestingly it exchanged GJ ( along another 2-3 pairs) yesterday, and got out without a scratch.

Hi PF, we've got all being there. Its part of company. You will feel much better in a day or two.

I had a 10% down on my first day of verbal diahrrea account on 12 Jan; and proceeded forward because I know it was pure company and the egy lost even in backtest. It is a trading day just like any other

Originally Posted by ;

Hello PF, we've got all being there. Its part of business. You will feel much better in a day or 2. I had a 10 percent down on my very first afternoon of verbal diahrrea account on 12 Jan; and moved ahead because I understand it was pure business and the egy dropped even in backtest. It is a trading day just like any other

correct, and it isnt my first dd neither. Only it doesnt set my mood happy, but life sure is going on

Originally Posted by ;

now I feel little down, but that is temporary.

Profitfarmer,

I am sure you'll be able to overcome the drawdown. Much like what alphadude said, we've been there. Every time you overcome a wholesome drawdown (healthy as in not entirely destroying your account), I think you become a more powerful trader with more expertise. I hope you cheer up soon!

new day, and same outcome.

it wasnt revenge trading, but still ended up the same, an equity SL.
2 months, however, in reality 2 consecutive trading days (discount the afternoon break in between).
I feel. I think that it's normal.
Some ppl had rely on me, and a few ppl earnt lots of cash in my own trading, same ppl are extremely quick to kick into me to the loss, though the system rules were followed, and nothing from system was completed, include no payback trading.
I want time. for myself.
To regroup my thoughts, to trade for myself, and also to focus a bit on anything else.
Make no quick judgement anyone, things are still not gloom and doom for my own trading.
I'm up on the travel, and capital preservation, as was pointed out, is observed.
But as last mentioned, I am human. Maybe I'm out of sync with current market, perhaps not, perhaps it fits my system nevertheless, possibly not. . .the point is, that trading, both size and activity will have to be decreased some till loe the answers.

I find it important to also tackle the poor, not only the great things here.
That is the reason why it's a journal!
Hope all reading this understands the point, and read this as I think one should: a journal.

Originally Posted by ;

new day, exactly the same outcome. It wasnt payback trading, but still ended up the same, an equity SL. 2 months, but in reality 2 consecutive trading days (discount the day rest in between). I feel. I think that it is normal. Some ppl had rely upon me, and some ppl earnt lots of money on my trading, same ppl are very quick to kick into me to the loss, even though the system rules were followed, and nothing from system was done, include no payback trading. I need time. for myself. To regroup my thoughts, to exchange for myself, and to concentrate a bit on other things....

The market is quite trending this week. It's awful for counter trend trades. I took a hit also this week. But trending markets only happen 20 percent of the time (that is the myth), so keep up your head and wait for the days to come.

I don't know whether I am in any position to provide you with any suggestions as I am just starting up on my journey to consistency. However, after considering your previous few trades which led to your DD I found that you let those places operate as far as -70pips and had multiple entrances for EURCAD as much as 8 as opposed to the normal -10pips each position I am wondering why you allow EURCAD and GJ ran that far from the red ? Maybe it is a good place to get started.

I have embraced a method in which I actually don't use physical SL but a mental one similar to yours I feel this type of trading can easily be swept up by changing conditions our misjudgment and self. I personally have yet to think of an efficient risk management plan for my method. For this kind of trading I think understanding exactly when (when it breaches a specific level and the PA seems off for example) to reduce your losses prior the 10% equity SL can restrict the possible downside.

Originally Posted by ;

new day, exactly the same result. It wasnt payback trading, but still ended up the same, an equity SL. Two months, however, in reality 2 consecutive trading times (ignore the day rest in between). I feel. I think it's normal. Some ppl had rely on me, and a few ppl earnt lots of cash in my trading, same ppl are extremely fast to kick me for the reduction, although the system principles were followed, and nothing from system has been done, comprise no payback trading. I want time. for myself. To regroup my thoughts, to trade for myself, and also to concentrate a bit on other things....

Shake that shit off, homes!

Sometimes you are the windshield. . .sometimes the insect!

Change nothing. . .you never got to where you're by changing together with the market, you just got shaken by an exclusion...

We live our own lives by rules. . .not exceptions!

Rock on, brother!!

Going to Cheers Early in another 100%!

Go Man, GO!

Originally Posted by ;

I don't know if I'm in any position to provide you with any suggestions as I am just starting up on my trip to consistency. But after looking in the past few trades that contributed to a DD I discovered that you simply let those positions run up to -70pips and had multiple entries for EURCAD as many as 8 as opposed to the usual -10pips each position I am wondering why you allow EURCAD and GJ ran that far from the red ? Maybe it is a good place to get started. I also have adopted a method where I actually don't use physical SL but a mental one like yours I feel this...

If I'm not mistaken, PF enter based on grids, so as soon as the market is going in a straight line, it is bad for the system, but if it retraces 10-20 pips per swing, then PF can get out of the terrible trades or even get profit. From the EURCAD trades, he could just get one batch from the terrible trades but the remaining trades didnt even retrace at all or his setups didnt trigger because there wasn't any retracement at all. Or RSI/MA didnt cross.

Like I mentioned, it is a trending week. The majority of the scalpers will take a hit because scalpers are aiming for bounces of this market rather than a trending one. That is precisely why it's important to think that the market will only trend 20% (this is when the scalpers lose, and will need to control the losses/take a few days off). Get back the losses the following day/week/month.

Originally Posted by ;

new day, and same result. It wasnt revenge trading, but still ended up the same, an equity SL. 2 months, however, in reality 2 consecutive trading days (ignore the afternoon rest in between). I feel down. I think that it is normal. Some ppl had rely upon me, and some ppl earnt lots of cash in my trading, same ppl are extremely quick to kick me for the loss, even though the machine rules were followed, and nothing from system was done, include no revenge trading. I want time. for myself. To regroup my thoughts, to exchange for myself, and also to concentrate somewhat on other things....

Well that stinks. I am sure the suicide kids will be on the parade shortly.

1. Can you follow your rules?
2. Can you correct trading errors immediately?

If you did both, those are normal losses and to be expected. Just know when your machine is meant to carry losses. If your system took regular losses then you'll be OK.