Well the simple answer in my case is freedom, not that I'm quite there yet but I'm working towards it.
That all being said, my trading journey to date has been full of ups and downs, and I reckon I'm still stuck in a boom and bust cycle. I suspect, as I alluded to in my last post this is because I try and do new things from time to time, even though I know my main system works, I've now got over 1,000 back test results over about 20 different symbols across a number of asset classes, it works.
The psychology is hard though, particularly when your on a losing streak.
So what do I do about it:
Any way thats it for now!
Nick the Trader
I'm just going to freelance this one a bit today, Akil Stokes style and just write what I'm thinking.... could get interesting...
Anyway its been a while since my last post, a long while, I've had a lot going on outside trading which has sucked up most of my attention.
Anyway, I'm now going to try and update more often, with shorter posts detailing my journey as a trader. Because like all of us, I still make plenty of mistakes, usually not expensive mistakes now (well at least not too often), but they happen.
One of the mistakes I seem to routinely make is wanting to hunt around for new systems all the time or tweak things or make adjustments, even though I know through my backtests my system is profitable. For me most recently, I thought, hmm what if I put in a take profit where I take out 50% of position when I hit certain ATR multiples. Seems like a great idea right...
Well I did the backtests on it and you know what it showed, it showed that it produced very similar results to just letting my system do its thing, if I'm honest the tweak made it slightly worse, although it did reduce the average losses and improve the win rate. At least I had the smarts to only backtest it and not test with a live account - thats another mistake right there, maybe for another post!
Anyway happy trading,
Nick the Trader