So, I've decided to start a new journal for 2014 for a new/old style of trading for me. I began this year with a reliable mechanical trading system that prints a lovely 45 degree equity curve but is a little boring for my taste. Within a few months, I had turned 3K into 10K, and then started to suffer a bit of drawdown. After dumping a basket of trades just as they were ABOUT to turn profitable, I decided to take a crack at timing some trades more precisely with larger lots. Honestly, it was clearly revenge trading in an attempt to quickly regain the losses from before. As always happens, if I had just stuck with the previous system, I would have been back at the proper levels within one month. but alas....
Anyway, with the precision timing, some was made and some was lost, as clearly evidenced by the crazy squiggles in my equity curve, where you can see that I went insane for a short while. This was until I had the bright idea that the GBP/JPY was DEFINITELY going to bust out the top of a giant ascending triangle. It still might, but I was over committed in every way. That ended in a 5K loss. That was a perfect example of being married to an idea as well as committing too many chips to said idea. Anyway, I was walking on the Highline in NYC yesterday staring at my damn iPhone instead of the lovely architecture, and I saw a gorgeous opportunity in the GBPNZD to go long, based on how I used to trade in the past. So I took the trade without hesitation. It immediately turned profitable and reminded me that what has worked well in the past is a shotgun approach in a market that is losing momentum and preparing for a swing. I get in near the end of the swing and hold on til we hit the other side. So I'm going to give it another public shot.
I've used this method twice before to make several hundred percent profit very quickly, but it was in the days of 400:1 leverage. For honesty's sake, I will see how it goes here again, with my current Trade Explorer started on January 2nd of 2014.
Started today with half lots in three markets. The charts should be self explanatory (cuz I wrote on 'em....duh). There are multiple levels of entry as an opportunity to scale in. So if the market drops, I buy a smidge more. All three trades are:
Long EURUSD
Long EURAUD
Long GBPJPY
Commence rolling ball.
Anyway, with the precision timing, some was made and some was lost, as clearly evidenced by the crazy squiggles in my equity curve, where you can see that I went insane for a short while. This was until I had the bright idea that the GBP/JPY was DEFINITELY going to bust out the top of a giant ascending triangle. It still might, but I was over committed in every way. That ended in a 5K loss. That was a perfect example of being married to an idea as well as committing too many chips to said idea. Anyway, I was walking on the Highline in NYC yesterday staring at my damn iPhone instead of the lovely architecture, and I saw a gorgeous opportunity in the GBPNZD to go long, based on how I used to trade in the past. So I took the trade without hesitation. It immediately turned profitable and reminded me that what has worked well in the past is a shotgun approach in a market that is losing momentum and preparing for a swing. I get in near the end of the swing and hold on til we hit the other side. So I'm going to give it another public shot.
I've used this method twice before to make several hundred percent profit very quickly, but it was in the days of 400:1 leverage. For honesty's sake, I will see how it goes here again, with my current Trade Explorer started on January 2nd of 2014.
Started today with half lots in three markets. The charts should be self explanatory (cuz I wrote on 'em....duh). There are multiple levels of entry as an opportunity to scale in. So if the market drops, I buy a smidge more. All three trades are:
Long EURUSD
Long EURAUD
Long GBPJPY
Commence rolling ball.
There's always money in the banana stand.