Dale, I rise my hat high and bow deep! I've been hit a bit hard recently and reduced my trading very considerably. I've come to the same conclusion that trading on daily charts has been very unsure recently, but unfortunately I have no chance to work on shorter timeframes. I have applier a lot of enroning, in spite of the relatively small trade sizes, and this has effectively stopped the positions from sinking further. I am glad that I have followed my money management rules - which were bound to the pip prices rather than only margins, much like just discussed. My problem has just been that I have had too many positions open at the same time, and while not violating the rule of the total maximum margin, they have all turned severely sour at the same time. And I have been looking at VS SARs, while VSC1 enroning SARs as discussed a while agowould have been a better choice.
But anyway, I'm far from any margin calls and the account balance is still good. I'll just have to live with the bad positions for a while now. Though it would be very tempting to open a number of positions again, I will be very careful on that from now on and look at only a couple of instruments at a time. One thing I've now seen well in live action is the "forming orders" concept by Delta and think I'm getting the idea what's really behind enroning. And the idea (by Craig, if I remember correctly) of seeing the monetary figures just as a score about how you are performing is a great way to search for the zen of trading.
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