oh yeah, two months and a half of near great trading and I hit a drawdown of nearly half in a couple days.
Why? Well, I can tell you exactly why, and I can tell you exactly the issue that is preventing me from seriously analysis the last two months, which really makes it both a waste and a huge turning point.
Still no journaling , which is completely asinine . How am I supposed to know what was working and what wasn’t. Clearly, three large losing trades in a row were a symptom of something, what was it?
Well, without journaling , I know it was position size, lack of planning, and habitual journaling which would limit my choices. I still believe I can go back and journal it out later, but it needs to be there, and my decision needs to be based on something tangible.
So, we are starting over, and not just because I blew it up, but also because I blew it up without reason. Strategy is there, but working habits are not , and I must be holding myself accountable for that.
So, for a little bit, as to not stay out to long, I am in time out. I am looking at using myfxbook for a bit of charting journaling , and thinking about the rules of the next phase. The object is not to increase the account by some insane amount. 1% per MONTH would be just fine. For this, we will start with 1Million .
Why some insane amount? because I want to prove to myself and to possible investors I can make a profit with very little drawdown. With rules, and my strategy, this should be very easy and very doable with proper capitol and absolute discipline . That is the whole point of all of this, success. Not some Utopian Fairy Story where the prince makes a million dollars from a hundred in a night.
On to the books