10K in the hole

Currently down another 1K GBP since i started this thread two months ago. So have about £29300 GBP at moment.

Have reduced my trading to only 1 or 2 trades a week, instead of 3 or 4 trades a week i was taking up until recently.

Only taking the best set-ups now, trades with a backtested profit factor >=2.0. Hopefully that will hold up in real testing.

Going to take at least six months to get back to 40K.

But much longer if the markets continue to be out of sync with my methods.


I have started a new journal here:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=279507

My new journal is more process oriented and less results oriented like this one.

I will update this thread whenever i get back to 40K.
 
Quote from slumdog:

Currently down another 1K GBP since i started this thread two months ago. So have about £29300 GBP at moment.

Have reduced my trading to only 1 or 2 trades a week, instead of 3 or 4 trades a week i was taking up until recently.

Only taking the best set-ups now, trades with a backtested profit factor >=2.0. Hopefully that will hold up in real testing.

Going to take at least six months to get back to 40K.

But much longer if the markets continue to be out of sync with my methods.
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You doing what a typical rookie does, worries about the money lost and how to get back, with very little regard to the capital left.

Listen to your track record, you have no positive expectancy, forget one contract, hit the simulator.
 
Quote from slumdog:

I been watching the markets since 1999.

1999,2000,2001,2002,2003, second half of 2007, 2008, 2009, 2010,2011,2012 were all good trading periods for my style of trading. Lots of booms and busts (fear and greed) in those years, dot com boom followed by bust, followed by iraq war, then financial crisis then rally off the 2009 low, debt crisis in europe.

2005,2006, and first half of 2007 were slow not much happening except I remember the lebanon war in mid 2006 really got the markets moving for a couple of months and saved me having a bad year.

2013 has been pretty crap for my style of trading, not sure if this was due to market conditions or just plain old bad luck.
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How about 2004? Which was the worst year? Thanks!
 
Seems like you have been trading for a long time.

How do you pay your bills if you made nowt this year? I guess you have no family to support, that would be killer on your finances.
 
Quote from Grandluxe:

Seems like you have been trading for a long time.

How do you pay your bills if you made nowt this year? I guess you have no family to support, that would be killer on your finances.
More...

I have to use my reserves.
 
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