First post yay. A lot has happened not only this year but last too so its only right I get you guys up to date before I begin the weekly updates. You will see the good and bad I guess. From the way you see me on here just know thats how I am in real life too. I’m not going to try and speak any different than I would and you might even see some naughty language. At times you might see me joking around or laughing at my own success or fails. I deal with every situation in a very similar way no matter what it is. If something is working well, I still try and get better. Don’t confuse me with a perfectionist though. That’s just not a thing. If I fail at something or something bad happens I always learn and take positives somehow no matter how.
Now onto my trading.
I trade various strategies on 4 pairs currently. EurUsd, GbpUsd, AudUsd, GbpAud. These strategies occur whether in trending or sideways markets. Like any strategies they have their boom periods aswell as their drawdowns. Coincidentally its been a drawdown for me for a fair amount of time. Ahh so well we just move forward. These strategies I have manually backtested and added over time. I continuously test various things to diversify and enhance my portfolio and performance.
My first 6 months went something like this.
I mean yea it looks wild and all but most importantly it went from the bottom left to the bottom right. I made something so i was happy. I experienced 2 major drawdowns of which the second caused a week full of costly mistakes. The more drawdowns you go into and come out of the higher your confidence is in yourself and your system hence why I cant wait to get out of my current one. You find more and more about yourself and personality and the first lesson from me is. Your system MUST match your personality.
You have to find the sweetspot between frequency of setups, risk:reward ratio, win percentage and profitability. It made me realise that for me personally I wanted a slightly higher win % than around 45 so over christmas I made a few adjustements to do exactly that. Now from backtesting it is about 50%. slightly better. Another thing I noticed is I was worried on my bigger setups as they almost had more control on my account as a big loser or a big winner can affect your account fairly significantly. This caused me to change my approach to a percent based risk from 2019 and because of my larger account I could now afford to manipulate the position size in a way which gets me roughly 1% risk per trade. Turns out it slightly increases my profitability which is great but also slightly inreases my drawdowns (based on backtesting numbers).
So heres how 2019 has been going so far.
As we see a very smooth clear trend. In the wrong way. It has been a rough year so far. I’ve done everything I should have aside from 2 mistakes which were out of my control but ultimately they are still mistakes which would have had a very minimum impact on what you see above.
It has been frustrating I wont sit here and le about it. Not really the losing part but when minor details and things just dont go your way during these periods it just rubs salt on the wounds. It does frustrate me because I personally feel like this year is a must work for me in terms of having a positive ROI around 20/30% so it is a hit but there is still loads more time left to turn it all around. A few things that keep me confident still is the fact that im only down around 9% so not like ive blown my whole account and also the fact that one of my coaches has had his story in my mind of how he was down 17% in the first month of the year and still ended up with a very good year.
I just see this as a mental test of my character and how far I am willing to go to get where I want to be. Also once I come out of this one I will be going from low ish confidence to extreme highs and my belief in me and my system will take another boost higher until these things just dont bother me again.
So theres the first post I have ever shared and I hope you found some value and entertainment in it and you might have found someone thats currently losing money just like you but we push through and make it work. We move. Lets go.