Well bad news keep coming, when it rains it pours eh.
I’ve reached the max drawdown for one of my investor accounts (one of my 5ers trading accounts I’ve been managing for two years)
This blows, I’m not going to lie,
That being said, it’s also worth putting into perspective:
- I remain healthy
- I still have income
- It’s not my only investor account
- I haven’t lost any family members or friends in the last six months
- I haven’t lived through any traumatic event
- I live in a developed country
- My income remains above what I spend even without this account
So can I be sad about this?
Yes absolutely, some things are preferable to others, yet since it’s no longer in my control, there’s nothing I can do about it so there’s no point wailing about it.
Still sucks tho, but I know my trades have been following my trading plan so it’s hard to argue about it.
Now the definition of insanity is to keep repeating the same things and expect a different result.
At the moment the result is a big DD, yet in the past it used to be profitable…
Euro Kiwi presented a clear short potential – we opened this daily candle below the pivot level, the 50EMA was within the 20% range, we reached a fresh daily area of supply which even had a weekly stack, the zone was fresh, we hadn’t tested it beforehand
Makes a lot of sense to me – especially the fact it sticks to my trading plan
Pound Aussieoffered a long opportunity this am, it required quite a big stop loss, however, it fits within the criteria I have of no more than 70 pips or 100 pips for GBP pairs with this specific strategy
The main issue with it is how big the SL is, which means the TP is quite small, on top of that we are within a range, that being said, it’s valid.
It fits my trading rules, so I’m happy to execute it. Let’s see how things go.
Take care folks.