Not a likely excuse but still a fact. I broke my ankle two weeks ago and missed the opportune exits of the trades I was managing. Took an ugly hit on my GJ short but had nice pips on UC and GU long. Again, a scratch trade. So far an unprofitable month. I have been reading Brett Steenbarger';s books again. I find his work so valuable and relevant that it won't be long before his place among the more famous Van Tharp's and Mark Douglas' trading bibles is secured.
Whatever, I still don't do the exercises in his books and my mental game is as dull as a Chinese steak knife.
Next week my goals:
Keep an ACCURATE journal of entry and exits. No need to pressure myself to post in real time if I am trying gauge the exit. But at the end of a period of 24 hours my trade status should be updated.
Trade the most *robust* Meantrade method for better or worse(some weeks 20 crb's suffer from Goldilocks angst). This means 20 crb's on GJ GU EU and UC. Wait for a proper reversal candle. For longs this means a white Heiken Ashi bar close above a pivot. Pivots are adjusted for the London and the US open. Targets are the opposite Keltner band which created the entry. If the market seems particularly strong, I will hold for an opposing reversal candle contra to my entry.
STOPS. Stops shall be two pivots from the entry. This averages about 180 pips on GJ, 120 on the others. Stops usually get taken on the Asian open, so if target doesn't come before the close of NY I will take my chances with the stop fairy. I have tried for years to cheat the stop fairy from denting my account. In the end, he sends his older more vindictive cousin, margin man to put me back in my place among the mortals. I fucking hate to be among the masses who have to follow pre-established rules set by others. Damn Humans!
But one thing I do have is my own method. I cannot say how important this has become to me in trading and in life. Without my own path, I feel empty and without purpose.
A few of Friday's trades which I didn't take but posted above for record keeping sake. Instead of making some great trades and sticking with them, I just hopped around from method to method which I thought MIGHT be more efficient and profitable than Meantrade. But they weren't. Nothing compares. Why? Meantrade is mine, warts and all. The sooner I accept my baby as my own, the sooner I will be CONSISTENTLY profitable.
To each and all I wish MODEST drawdowns and smooth equity curves...
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