I know, you probably thought I forgot about you this weekend. Uh, nope. Man....I have been just sooo busy.
First off, it's the end of the month figures I must tally. And this takes a longer time for me, especially when it ends at around the weekend. That coupled with the weekend numbers is a lot. Yeah, sometime I should show you exactly what I do. You wouldn't believe it. In fact, no one would. But, it's all for the cause of putting the market into perspective. I do enjoy it, very much so. It's just a lot of work. And someday I must get it to be automated. You know, a computer program to have run the numbers for me. Someday.
But, anyway....today is Monday, mid-day now. Yep, I'm off of work, and thank God! Cause I just about finished all the tallying of the numbers. Let's see, it took about between 6 - 8 hours, in total, to get to this point. I know, crazy huh. Oh well. Good thing I enjoy it. I'll never stop doing what I love. I just have to get smart and be efficient in what I do, that's all. But, I do have another problem with this also. It's the fact that I've been falling asleep too much. (when I should be working on my business) I could manage my time much more efficiently if I didn't get tired so much. And now I've been very upset with myself lately. I'm no stranger to waking up 2:30am every morning. (It's only been like 3 yrs now). 5-6 hours of sleep a night is plenty. It must have something to do with my diet. I don't know...but I'm going to crack down on myself real hard now. I just cannot have this. And I know that this is all temporary...(squeezing in my business while I have a full time job). I just cannot wait till that day comes. And I'll probably work so much harder, because then I'll be working for myself!! Only!!
Ok, that's nice. Now, what about this past week. How did I do you ask? Oh boy....you do not want to know.
I did not do so well. I lost. .....I mean....I lost. This week was one for the memories. Sure, I've been down and behind before, but this week....oh man....not good.
I placed the trade, Majors over the Comms, on Tuesday am. Well, that was a mistake. Cause later on that day Janet talked. Mid day. And let the whole world know that the US is in no hurry to raise interest rates.
Boy, did that hurt the US Dollar. And the Majors. Well, I kept thinking of what I should do. Keep losing by butt? Or stick with it until it comes back, like I have been accustomed to doing? I have such a conviction that the Comms are just way too overvalued. That's the sentiment I've had for a while now. So, you know what? I'm sticking to my guns. No matter what. As long as I have an account left, I'm still in. And that's what I did. I kept in the market, with the Majors. .....and guess how low I seen my account fall to?
HALF. My account dropped to half of what I had at the beginning of the week. Yep. I know. That's crazy.
But the other thing is I keep thinking of how much I trust my system. I mean, I really trust the fact of what I have always seen in the market. It comes back! I'm talking about between the Majors and the Comms. Not in the context of one currency against another. Sure, that's suicide. But that's what I was thinking as the week progressed. I'm not moving. The Comms can only go on for so long. (risk-on play) Then, if I remember, I think it wasn't too long, oh yeah, it was Friday when I seen a turn around. The Majors started making a come back. I was hoping it would've been before the end of the month, but nope, one more day later. So, I was on the come back trail again. (man....how many times is this gonna happen?) And I even said to someone that if I pull out of this one, it will truly be remarkable. I also have gained a little bit more experience, and I'm talking about psychologically speaking. I think I even said to myself, 'I am not afraid anymore'. Cause, to see such a monumental falling away, and to see myself not react emotionally because of that, is truly something. OK, to be honest, when I think about it, there was a time (matter of minutes) where I was doubting myself. I mean whether I can be successful as a trader. Whether I can do this as a business. And it seems like there is a correlation between how good my account is = how good of a trader I am. So, when the account went down to $700.00 from $1483.00, I wondered if I really am a trader or not. Does it mean I'm not a trader if my account goes bust? And does it only mean I'm a trader if my account climbs real high? Well, honestly that did go through my head. I remember. I was working (at work) and kept thinking of what was going on in the market. (- yeah, thanks Janet -) But, no, seriously, I was a wreck for a short time. Then, I have a talk with myself. And that's when the smart side of me takes over. 'You know what Mike?.....I don't care what the market does....I will pick myself up, dust myself off, learn what I need to learn, and move on!!....I was born for this....I cannot deny myself. And I won't.
So, I listened. And I kept my head. Sure, I have feelings, just like anyone. But I'm not going to act out of them. I remembered my sentiments about the Majors, Comms. Plus I thought that I would do so much more harm if I switched. Things can get so terribly ugly when I start switching. I've been there, and I don't like it when I'm in a whirlwind (due to the switching). So, I'm still convinced that the Majors have something to give to them. So,...time passes by. It took till Friday, but things did come on back for me. And I wanted to just stay in the market, whether a new month, new week, I don't care....I'm just staying in with the Majors. I don't even care what my account looks like on paper for the month, week, anything.
Just wait till I get in with the flow! See, up to this point, I really haven't been in with a good flow. I've either been with the losing team, or breaking even (a come back). And I feel it is (very) possible for me to finally catch up with the one that is trending very high against the other. I have charts that show some really lengthy trends that can make one very well off. And one of these days I will be riding on it. I just think that this Comm ride must be close to an end. Especially after what had happened at the beginning of the year.
What am I learning? Well, I have more of a respect for the market. In the aspects that it can be brutal, with no mercy, in the short term. But, I also think that it's kind of dumb. In the short term sense that is. Sure, the longer the time frame, the smarter. What else.....my system is more reliable than I think. I will not trade any other way. And the work that I put into this does pay off. My patience is being tested more and more. And I'm kind of surprised that I can keep it together (from that extent), just like a real trader should.
Ok, that's nice (too). Uh, I'm going to show what my account looks like. And I think I will explain much of it also. Warning. It doesn't look too good. But, oh well. It's the truth.
Ok, so, I didn't make my March's goal. The money goal. (1,600) So, even though I am in the month of April, I will still be working on M's goal. I will stick with 3K position sizing, till I achieve it. I have 2,663.7 pips to go. The pink colored squares equates to my position sizing. The brownish colored ones were for a 2K position sizing, which was for the month of Feb. And we can see that it took me through the second week into March to achieve Feb's goal. And now it will be the same with in April. So, I'm behind, again. And I'll change April's 4K position sizing to a different color (their white now), once I accomplish March.
Well, it's Monday afternoon now. And I've been in the market with the Majors (never left it, with them). And boy oh boy are things looking good for me. Yep, tonight's figures are going to go to the Majors. And my account is looking so much better. We have a new month ahead of us now. And just as I have thought, the Majors are taking it. Well, the first day so far. But, my thoughts are that they are gonna take a good bite out of the Comms this week. And I think I just might stay in with them, for a good long while. Unless I see a very bad day and the Comms take a day, but they will have to take it by a lot (over 1K pips). In that case, I will have to jump.
Man, do I wish this week will be huge for me. I've been waiting for a break out for a long time now. (Ok, a month). I guess it wasn't gonna happen in the month of March. How about April?
Btw....my account has risen up well over 1,300 so far today. So, I'm starting to see daylight.