moneyWhen you got it, you got it and when you don’t you don’t. That’s been my story lately. Seems like I’m wrong more often then not, taking a beating from left and right. My discretionary trading hasn’t been in such slump in, I don’t know, maybe a year? Of course I know that these bad periods are part of the game, I just don’t like when they arrive.
Friend of mine says “During times like these all you want to do is to hide in a dark corner and lick wounds”. I don’t know about that. Licking wounds doesn’t make you feel any better. But here is something that would
I wish there was a service like that in the neighborhood, but much to my chagrin, there isn‘t one. Therefore I keep trading, cut the position size a little and take a few less trades.
Here is a sample of how last week has been
Not everything was that grim but I seemed to loss large trades and get ahead on smaller ones. GBP-USD and EUR-USD trades did good for me last week, but loosing trades prevailed. I would have much preferred for this slump to come next month, when I’m going to Europe for couple of weeks and wouldn’t have much cared, but markets do what they do without any consideration for my personal conveniences. How thoughtless!
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While all this sounds like doom and gloom, I didn’t loose any money to speak of last week. Why? Very simply, my trading is extremely diversified. I trade 17 personal accounts, some with different methods, some just different crosses at the same time. Just like the markets, my accounts have lives of their own. About halve of my accounts are trading “mechanical’ systems and those did reasonably well last week. All accounts trading European currencies did well. Like this one
This is a snapshot of last week’s trades for USD-CHF auto trading account, which places trades, well, orders, once every 24 hours
All trades were positive. Gains are not huge per trade, but the leverage used here is much higher than in discretionary accounts and size is adjusted to the upside with every winning trade, taking advantage of compounding.
Mechanical trading is infinitely boring as one has to place trades regardless of opinions. Otherwise there is no more “system” but a loose collection of trades. Make no mistake, these systems go through periodical loosing or non performing streaks as well. Those periods can last for weeks and be very debilitating. Unlike discretionary trading, where you can simply take a break, “system trading” must go on or you break the system.
I trade both based on my opinions and systems. My opinions sucked lately but systems came through. And so it goes…
Husar
