Coming soon . . . . . . . . .
I can see the Like button and the Share button and the Reply button. But maybe we need a “Confused” button…
A belated HAPPY NEW YEAR 2021! Below is a link documenting my Live Account trading. Feel free to discuss anything with me about my trades.
Here is a video that i created in April last year. Which i hesitate to upload, because i thought it wasn’t good enough. Well, for what it is worth. Hope you people like it.
Chinese New Year is over for me. TIME to get Serious.
A little flashback. Last month, my live trading account took off on a good note but Greed got the better of me. FORTUNATELY, after 8 or 9 years of emotional conditioning, i managed to step on the brakes this time round. It was up 30% initially, but i had to regurgitate about 29% back by month end. On hindsight, i did notice that the drawdown was increasing gradually per trade, but Greed was a dominant force in my natural temperament. StIll have room for improvement i would say.
I tried to reset my previous myfxbook link but was unable to. The myfxbook link is still showing my January ( UGLY )
result. It seems that i just have to live with the black mark.
Anyway, here’s the new link to myfxbook account. It still contain all of my January results. As a consolation, at least i didn’t bust my LIVE account. I had withdrawed my previous $1000USD, and for february, i believe it would be a better idea if i just kickstart with $500 live instead.
THE above is a screenshot of my current position. I’m currently Long on EURNZD, undergoing DRAWDOWN at the moment.
PS: By the way, i have removed the youtube video, as it was unable to generate interest. I don’t feel like posting too much of my HANDSOME look on the internet YET. I may possibly post more when MY TIME comes.
Perhaps, i’m not cut out to be a trader in this lifetime after all . . .
Why do you say that? I guess something is not going right? Care to share?
Just lost 5k USD on forex trading. And it is only February. A huge blow. Only left about 3k SGD in savings to maintain smooth cashflow for family expenses over the next 2 mth. No more extra money for trading. Meaning, will need to clock tons of overtime over the next few months. Laying low for a QUITE a while .
I’M A FAILURE IN FOREX TRADING . . .
( as a Thousandaire )
Ouch! Sorry to hear that!
I haven’t seen any dramatically big moves amongst the main currencies recently so what caused this? Was it overtrading? over-sizing? lapse of discipline? or just a lack of strategy? I saw on your “myfxbook” site that your average trade durations are around 6 hours? I was surprised, I would have guessed you had been trading very short term with big positions to suddenly come off the rails like that?
Did you take your eyes off managing your balance as well as your live trades?
That will surely hold you back for a while but “laying low” is a good opportunity to revisit the basics and rebuild, maybe on a demo for a while so you can concentrate on the method and not the balance?
Hope you can rebuild your faith and confidence in time, but family always comes first!
When I lost some big money in trading I went back and analyzed all my trades. Nothing deep. Very top level analysis.
I looked at all my winning trades and separated these into trades that went considerably negative and eventually turned a profit and those that went into profit very quickly.
Then I looked at my loosing trades, how much I lost, where was I hanging hope on the price action/patterns as it unfolded to the downside and then calculated the amount I would have saved if I was “merciless” with the much debated smaller stop loss… it was a substantial… substantial… amount of cash.
If I crushed my losers quickly and let the winners run I would have had a very different outcome. I have heard the death by a 1000 cuts… but if my winnings are providing more than enough bandaids I don’t mind the cutting at all.
Though I have to say I can still find it challenging to “pull the plug”.
This is simply my story FWIW,
Wishing you the best! I have always enjoyed your postings!!