When there is a new trading idea popping up in my head, I am always so delighted and can't help thinking that cash just rolls into my account. I think it again and back-tested it on some historical data. It indeed works in the way it suppose to be. I ask someone who is familiar with me, and possible admire me, for their options. They also think it is a genius innovative approach to the old same market. They want me to try it and let them know how high the profitability is in the real world. So now I finally can't wait to put the new idea into play by utilizing real capital. It was initially and then it started to crank down. Finally I am discouraged and forget the once new idea after a drunk night. So, could you please tell me your best approach to deal with a new idea so that at least some consistent positive outcome can be achieved? Thank you.
Is this a mechanical trading system or a discretionary trading system ? How often did you trade the system during those losses with real money? Does the drawdown via real money correlate with the drawdown revealed your your backtesting? If not a mechanical trading system... can your friend that admires you go over your price entry and exit to see if your trading your discretionary trading system with real money... differently than you were when there wasn't any real money on the line (paper trades or realtime simulator trades)? NihabaAshi
You mean you had a good idea, got drunk, and now you can't remember it? That's a rough condition to have.
It's usaully during that drunk night that I get that new wonderful idea. But can't remember when I wake up.