How right I was when guessing that my luck period was over, and WOW! Over it was for sure !
FOMC roller coaster took out all of my previous two months profits. I was expecting some run, up or down after the announcement and like always, the unexpected happened, none of both, or better said, both simultaneously, a move down and back up in the current range. It’s interesting to note that I kept trading the same way on the ECB release which had also some up and downs but this time I went through without much damage, which means that for sure my system needed some adjustments which I have already made, but also that not all was bad and this is quite encouraging.
Anyway, it’s better to have this kind of events now that instead of 10 months later in the course, and with a larger balance, I get it as an opportunity to improve my system at low cost. Now that the improvement was done, the future will serve to validate some additional rules.
On the trading and account side, I have decided to trade only the EURUSD pair as it’s for me the most rewarding pair, CADJPY needed too much work and patience for the reward. I have also decided to increase my balance by $150 each month in order to accelerate the grow up of my account until I reach about 2K, hoping that someday I will reach that amount 😉
And last but not least, I have finally decided to lower my risk, my greed took a hit but I’m happy to be more on the safe side. Time will tell if my move was enough to make my trading durable while at the same time enough profitable to satisfy my expectations.
I hit the wall hardly but fortunately I could get out without too much damage as I terminate the month with still an all time profit of 30%, and most important, an improved system to trade with.
I have now 4 new short term goals to achieve and as many reasons to stay motivated:
- Trade profitably for more than 2 months.
- Go past my previous profit and return.
- Trade through FOMC/NFP events without too much damage to the account.
- Reach 2k in balance and stop deposits.
And, as Winston Churchill once said,
If you’re going through hell, keep going.
End of month stats.
Science is a Means to an End. Means is Knowledge, End is Control.