Hello All. Some of you may be aware that after god knows how long paper trading, immense back testing and procrastination, I opened an FXCM account (bad rep, but seriously, I have never had an issue with them for the record despite last weeks liquidity shenanigans) in August.
I just wanted to do something I had not seen on this forum, and actually demonstrate whether a successfully back tested and paper traded system would work live. I was always coming across scare stories and was fed up of them as they seemed to plant real seeds of doubt as to the efficacy and morality of brokers whilst never demonstrating facts that it was they who screwed the trader over rather than the trader’s own oversight. So I took the plunge to check for myself, and in doing so assisting others who were of the same state of mind.
So I began posting but came across a number of haters who really did piss me off, so though fk it, I don’t need this nonsense, so I left it. Tbf, It also coincided with my bird, who got seriously ill (she’s better now thankfully!) ergo, updates were put on the backburner.
Anyway, I continued trading but not regularly which really ****ed up averages. Trading is about averages (I assume), and that is why one should not get too down hearted with losing streaks as results SHOULD regress back to mean (and vice-verca, getting all ‘on top’ with winning streaks). I found myself winning brilliant trades but ultimately in negative territory; this was because I was dismissing some entry signals and embracing others… NOT GOOD! DO NOT DO IT! [B] If you do this, take the sensible decision that I took and appreciate that your mental state and environment is not currently conducive to trading. Take a bit of time away, recollect your thoughts, and get back onto it at a later date, which is what I have done. Do it before it is too late. I was down but only around 15% or so which whilst a pain, is not devastating.[/B]
Throughout October-December I hardly did anything, and decided to continue fresh in January, which I did! 4 weeks in, the first time I have kept to the rules dictated in my mechanical strategy and am bearing fruits galore. Kiwis, passion-fruit, melon, the lot.
Due to this regained enthusiasm, stable social/family environment accompanied with discipline (not missing out on entry signals due to awful organisation), I am around £2335 up this month. It would have been £3885 had it not been for FXCM’s liquidity issues and my reaction in pulling all equity out immediately. This process of receipt and re-deposit took a week so did not enter into the market.
This month I have entered into 15 trades (I think) and am very much enjoying it, (even the signal failures do not vex me to the extent they did), After 6 months of on and off trading, I am now basically immune to the emotional rollercoaster I started with. I hope all da peeps who were contributing to my last blog, come back, you were legends. To the two who were behaving like morons, and projecting your own recent failures onto me, I did not take it personally, but I did think it was immature and quite embarrassing, but if you wish to be more constructive it would be a pleasure to hear from you.
Please keep following my account:
What I find interesting is how correlatory to my paper trading and back testing these results have been to date. This is very promising, it really is. Now, come one, come all to this forex trading blog ball.
