Oh well... never great to post a losing day. so wednesday got caught. My own fault: I had made 60pips and should have stopped there. So got caught in a type of squeeze. Good thing : I have very good reflexes and fired my exit order very quickly. wednesday forex: -34pips. So july challenge not achieved. I was going to stop till the end of july. But our accountant suggested I could still trade on friday. friday forex: +72pips. This week I will be watching the screen. And will start the challenge again in august. The most important is to learn the lesson and try again.
yes : methodology in place. Plan generated for every trade. Very time consuming, so we are automating the steps that can be automated. I have not traded many days. My daily stop is a quarter of a percent of my allocated capital. At which point I stop for the day and for the month. Maximum loss : 3% of initial cash/year. Very conservative, but I am still learning to trade well, I prefer this very strict money management. The intraday drawdown : used to be worrying ( up to 80% as I was trading 16-18hrs in a row ), now been reduced to slightly above 50%. Once I manage to get 100% winning days / month for a good 6 months, this is something I'll look more closely into. Yesterday : forex +26pips; Today : forex +20pips ;
Still in for august. I haven't traded as I wanted to spend some time testing stuff on my sim and comparing with the automation. So I 'll now be resuming live trading. Quiet interesting : I could trade but didn't really understand what trading was about, just now I am starting to understand what trading is all about. As things are being streemlined, I can already see the difference, by having slightly more free time each day. I have been told that this is just the start in having more free time each day.
so far no losing day. This week, I'll just be watching the screen, no reason to screw up this long month. At least I'll be able to pass to the next stage.
So August challenge achieved . It's lucky the rules were quiet loose. This has really boosted my confidence , and we can now go to the next step: 1 month 100% wins, with a maximum of 4 non-trading days / month. After that I deserve a well deserved 2-3 months world trip. Already booking my travelling.
I am resuming my trading journal. I have actually fixed quiet a lot of weaknesses in my trading. I am now going short AU, for 10-20 pips. No big runner just now.
I am going to go against everybody's views. I am short GU. Got my stop in, not sure yet for the profit target. Might take in 20 pips , will see.