Two month? I saw someone that manage to use this method and making money "consistently' for nearly nine month (he almost tripple his capital) until one bad trade hit him, and he loss ALL in that one single trade.
I have taken mental stops before when I was down too much. But then I realized that stops whether actionable or mental are the source of my losses. Don't get me wrong, it is very mentally hard to trade without stops. I recall when stops used to kill me especially on barb wire formations.
So the guy never had a losing day for 9 months straight? If this is true, then I need to shut up and let this forum thread die.
Yes, he never loss for 9 months. In this 9 months, he has a few trades that almost wipe him out but he manage to get away because the market eventually reverse to his favour. The final wave come in after 9 months and drain his account. This is no secret, just a pure statistics and probability, the black swam will come eventually. I think you trade similar as him, pm me if you want to talk privately.
I can see the black swan event happening in both directions because sudden news can come out at anytime and kill what would be a normal trade. These black swan events usually happen with extremely high volume as whatever the event is can override normal trading conditions. I have thought about this before and what are the odds it can happen to me.