Currently down another 1K GBP since i started this thread two months ago. So have about £29300 GBP at moment. Have reduced my trading to only 1 or 2 trades a week, instead of 3 or 4 trades a week i was taking up until recently. Only taking the best set-ups now, trades with a backtested profit factor >=2.0. Hopefully that will hold up in real testing. Going to take at least six months to get back to 40K. But much longer if the markets continue to be out of sync with my methods. I have started a new journal here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=279507 My new journal is more process oriented and less results oriented like this one. I will update this thread whenever i get back to 40K.
You doing what a typical rookie does, worries about the money lost and how to get back, with very little regard to the capital left. Listen to your track record, you have no positive expectancy, forget one contract, hit the simulator.
Seems like you have been trading for a long time. How do you pay your bills if you made nowt this year? I guess you have no family to support, that would be killer on your finances.