I trust from the silence everyone is frantically reading and calculating away!!!
If not then here's a good reason to start:
It's Sunday morning so I'm going through my 'doings and screwings' from the beginning of the month up until Friday's close and here my good friends are the results from the SI System for me:
Forex/CFD/Commodities ('Main' Account): 262% gain on capital (heavily weighted in favour or Soybeans I must mention though).
Forex/CFD ('Account 1'): 30% gain on capital (only forex traded on this account so far).
Forex/CFD ('Account 2'): -5% loss on capital (main reason for loss is that I did not stop and reverse as indicated by the system on a particular trade i.e. was not concentrating on a particular trade that went bad otherwise % gain on capital would have been similar to Forex/CFD 'Account 1' as detailed above. Loss was a single trade on the Dow. 'Refused' to take such a big initial loss, held on to the position 'hoping', system was telling me to stop and reverse, price went down far enough to cover said loss AND still make a profit).
The profits detailed above were made IN SPITE of the fact that I got 'cold feet' on some of the trades and 'bailed' early. Almost ALL of these trades carried on to 'new heights' or 'new depths' meaning that the profit figures as detailed above would have been even better,
Lessons to learned:
1 -The SI System does work (well).
2 - Concentrate on what you're doing ALWAYS.
3 - Never second guess the system.
4 - Always stop and reverse as indicated by the system EVEN IF it means taking a loss i.e. do not 'simply point blank refuse' to stop and reverse because it would result in a loss and you 'think' the position is going to turn around and the system is wrong. The resulting profit made on the stop and reverse position always exceeds the loss taken at the initial stop and reverse point.
5 - Never close positions early because you're in a profit and 'don't think you could live with yourself if you did not take that amount of profit now'.
All the above will, in time, become very clear and more meaningful to you I promise.
Last edited by dpaterso; 02-17-2008 at 07:17 AM.
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