Dear ShhBrad,
Thanks for reading everything. It is a diary. I do not know if I will make it but I just write down all the feelings while I trade. Yeah, there are lots of up and down. As time goes, I am getting better handling emotionally with price volatility.
I am not a guru but rather a loser for now. I contribute stuff but do not take me seriously because I am not making money in the long term yet. I just have the confidence that I will succeed. That is all.
It is true that I have +1500 trades but many of them are trials and errors. It is like doing my first stroking on a guitar. However, I was unable to produce a complete song. I always trade real money so I do not lose touch of the emotions. Among those +1500 trades, there are no consistencies but rather many small series of failed systems.
If you keep track of my last system, I would strongly recommend you to start on the last trade of January 16th, 2015. It is DEPO with 49.02$ gain.
However, it is still a lack of consistency because I used to use 1% risk per trade from January 16th to February 4th. On February 5th, 2015, I have started using 25 % of my account because it is time to exponential gain to accelerate my gain.
I have missed a great trade on January 29th, 2015 with GENE. I only made 163 with 1% risk per trade. However, if I use 25% of my account, it would be 815$. It was a gain of 87.2% gain.
Yes, I get desperate for keeping losing all this month but, if I hit a gain of 87.2% or just 25% or 50%, it would clean many of my losses.
Yeah, I should paper trade… I am just very stubborn. I guess it is one of my main weaknesses. The current trading style takes a lot of time. I just feel I do not have the time to paper trade. I have always thought that I will have the next system. That is why I keep using real money.
For now, I think it is the best system I have and that suits my personality. I am thinking of posting my way of evaluating a system, maybe on the next post.
Even though I am no longer part of Tim’s challenge, I am still part of the challenge. The goal is to become a self-sufficient successful trader. I am on my own. I know that Sykes reads news but I only care of price action, just like InvestorLive and Tim Grittani.
Superman reads news too. It is not really my type…
With the current system, I only win 50% so I have to be disciplined on my losses.
Yeah, well, I trade HOD and LOD of gap up and gap down. I just trade whatever hits my alerts first. It is more or less a trend following strategy that I have inspired from Michael Covel and other forex traders. I just used that concept on the stock market’s winners and losers. I keep things simple but it is a hard system to follow because I will encounter more losses than wins.
My system is designed to catch big trends, i.e. supernovas as Sykes described. I suck a lot on reversal, e.g. morning spike.
I just know that supernovas can go for a few days just like GENE.
What keeps me going is that I have seen many big trends (supernovas or crashes) last year. I have also witnessed NDRM this year but I missed it completely.
I do not know… I take it like a business. I see my style like a real estate broker. I would just keep losing every day on broker license, in marketing and driving customers around houses. Once I have a deal done, it would cover many expenses.
Before I have joined Sykes’ challenge, I have been following some trend following gurus and I have been using trend following strategies on forex. It works but I do not know when will be the next big gain.
I need patience in this game. I just stick to my beliefs. I think all successful people are very determined. They do what is required to become successful.
Stay in touch!
I do not plan to change my system for a while. Thanks, I always need luck! Good luck to you too! May you have your own style of trading ASAP!
P.S.
If I start to make more money, I would write more blog posts but my credibility is based on my gains.
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