Streak

I would have to say trading over the past 6 months has given me a myriad of results from phenomenal to something that is very different than I'd like to admit or even see. Things are what they are, and yes, the trading strategy has changed, much more simplified.

Prior to simplification, I was experiencing some great success. However, there was that nagging feeling that things would come crashing down. It did not. But, as I further analyzed my trading, I found that I was not consistently following my very complicated trading strategies -- there were many deviations. It was not reproducable.

What that means is I could not go back to any random trade and say, I followed Trading Strategy A to the T, because I incorporated some of C and Q to A because of this and that. I wasn't THAT meticulous in my documentation, nor trading. In the end, it's my thoughts that that is dangerous. Bad habits eventually lead to not good things happening. It leads to a false sense of success.

Nothing happened to my accounts, just being aware of that nagging feeling.

That feeling has gone now, as I developed a solid simplified trading strategy that I can go back to ANY trade and see whether I followed the plan or not very precisely. It's been tested quite a bit, but right now, I'm hashing it out with myself to stick to my trading strategies to the T.

It is still a discrete system, and there is still some judgment involved. For example, at the time of trading, it "looks" like the trend in RSI is being broken, and I get into the position. However, when that point closes, it closes within the trend, and thus, I entered the trade at the wrong time.

Maybe at some point, I may say that's too discriminatory. Not sure. Will have to re-evaluate. There are other things that must come into play in this decision:

1. Where are you - location? (i.e., fib location, support/resistance)
2. Set stops tightly if you want to get out quick, especially if you're wrong.
3. Set stops loosely if you want to give it room to work, and leg in several times, perhaps.
4. Volume, MACD confirmation?
5. Big picture? Smaller picture?

Anyway, I'm also going through some major personal financial things right now. Trade cautiously. Going to drop my goals down to very basic of what I started months & months ago to keep me still trading every day, but reducing pressures of really needing to make lots of profits until these things I'm doing financially are over.

Live to trade another day.
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