Well, I think nothing will significantly change in the next minutes so I am commenting on my results right now.
So, this week was an hell of a ride, huh? I'm very happy to see so many people complaining. No, calm down!, I'm not happy because you are loosing money, I am happy because I can see I am not doing nothing so incredibly stupid anymore! But in the end it was not so bad after all. Let's see:
I started pretty well on Monday, recovering the DD from last week and not doing anything really stupid. Then Tuesday was OK, I don't even know how it happened because no-one was commenting anything on the forums! Then by the end of that day (and continuing on Wednesday) I freaked out! You see, among the general "positions that go wrong" panorama, I had an old position from last week on EURNZD, buying... as it was above MA240 and RSI was on the bottom, so I figured it would go up after that "W" on Thu/Fri... but didn't!
"Why were you stressed with it?", you may ask, "You should had a SL at MA240 and out of that long ago, with a small loss..." Yeah, true, but I don't like to put SL so close, so when the price is too close to the MA240 I usually put SL on D3, which is usually safe enough for not being hit and safe enough for not loosing so much.
But EURNZD was not getting back on track and even if it was not even close to DS3 I forgot how huge the volatility of EURNZD is, so I was already on a DD of 200+ pips on that and suddenly it dropped even further for 350 and on and on (reaching 455 pips on its peak DD).
If I closed it by then it would been an huge loss (at least psychologically speaking). If I hedged it it would be an even more idiotic idea. So, I figured that now RSI was on bottom and decided to add buys instead! I remember seeing Jem doing it and figured that by doing this I wouldn't exactly need to recover 400 pips... I would only need to recover 200 to be break even. As it was going up and CSS turned green I added even more buys. It felt a bit Martingaleish, but I was not doubling lots and realized that each time I added a buy, I would need less and less recovery pips. I ended recovering everything on that trade (well, by the end of it they were 6 or 7 trades already!) by WS1, on Wednesday, adding a few pips of profit per trade as a compensation for all the stress that thing caused! (I can see now that I could have them all get to my original TP and I would be a millionaire by now!!!  )
So, Wednesday was a good profit day. And since that trick worked, I started doing it on other trades as well, to get the hang of it. So whenever a trade was going on the wrong direction, I added to it as soon as it seemed it was starting to go in the good direction again. Then I calculated an average TP from all the open trades by the scientifically accurate method of eye-balling it
This worked throughout the rest of Wednesday and Thursday, and as such Wednesday got a good 13% increase of my balance and Thursday was also reaching 13% at some point... but this implied much more screentime than I was used to, and suddenly I was caught by JPY hiccup strenght and USD weakness and my hands were full of trades and a margin call was arriving. I fought a valiant battle against it and won (sweating under an available margin of 19€!) selling some positions and rearranging TPs, which was crucial for EURCAD, but couldn't avoid it some hours later. So, Thursday went from a 13% increase to a 1.14% decrease in balance and with a DD that reached 60%.
In short, Friday was a struggle to get back on track and had much more care with adding trades. I still had some losses form black Thursday (as I called it!) but managed to get most back, and even if I still have now a DD of 13% I think it's controlled, with the exception of some open "buys" on USDCAD that don't look any good.
Hope I didn't bore you to death with my remarks, here's the pic: |
