6/13/2010

A little bit of psychology:)

Every trader and me of course as well gets frustrated after a period of bad trades... Always we start thinking that the system doesn't work anymore, that we have a bad luck, that the markets hate us:) and so on...
But these times are what separate LONG time losers from LONG time winners. If you believe in your system, stick to it and just trade it. Look for improvements but don't "overtune" it. I looked at the historical results of 1 minute daily system and found out, that there is one period of time when the drawdown (risking only 5%, not 10% like I do, trading only GU and UJ like me) took almost 2 months to recover! I am 1 month away from such "bad times"! I have 1 more month to have as bad times as there were... Which means, I am actually doing great:) So if any of you guys reading this trade 1 minute as well and feel that we won't get there...forget it! We will...:) Here is a funny commercial video to cheer us up:)

http://www.youtube.com/watch?v=CmSCh5ZkMqk
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9 comments:

  1. RachelJune 14, 2010 at 8:55 PM

    Hi Tomas,

    I've just started a blog on 1MinuteDaily.

    Check it out:

    www.forexbrickroad.blogspot.com

    ReplyDelete
  2. SlurpeeJune 14, 2010 at 10:44 PM

    Hi Rachel,

    nice blog:) we can compare our trades and results. Great!

    ReplyDelete
  3. AnonymousJune 15, 2010 at 5:13 AM

    Hey Slurpee,

    Keep up the good work, luving this blog on the 1 minute daily, seeing these results is very motivating, as you said there will be times where you go through a loosing period, but it always turns around, just have to think long term, man if you kept at this for a few years you could be raking in some serious money.

    keep it going :)

    ReplyDelete
  4. SlurpeeJune 15, 2010 at 6:44 AM

    Thank you! It is very nice of you! And it helps me stay on track...:)

    Take care!

    Slurpee

    ReplyDelete
  5. AnonymousJune 15, 2010 at 8:06 AM

    Hi Tomas,
    Which period that you said was having a loss that need more than a month to recover?

    ReplyDelete
  6. AnonymousJune 15, 2010 at 12:49 PM

    Hi Slurpee

    Could you tell me what you have made on your account since you started with 1 minute daily ?

    Cheers

    Brettski

    ReplyDelete
  7. SlurpeeJune 16, 2010 at 9:09 AM

    Hi Anonymous,

    it was from September 1st 2008 to October 29th 2008. The account went from 8540 USD to as low as 6300 USD (that is 26% drawdown with risking 5%). And only trading GU and UJ...

    Hi Brettski,

    from around 170 USD to around 900 USD right now (that means +430% in 5 months)

    ReplyDelete
  8. AnonymousJune 19, 2010 at 5:09 AM

    Hi Tomas,
    +430% in 5 months is pretty impressive. If you are trading at 10%, does it mean that you get around 400 to 500 pips a month?

    ReplyDelete
  9. SlurpeeJune 19, 2010 at 11:19 AM

    Hi Anonymous,

    thank you... it is really great, although I was already at +1200% this year, but risking 10% is makes my capital very volatile. That is why next time I reach 2000 USD I will lower my risk to 5% a trade.
    No, it is not about the pips... it doesn't matter if you make 10 or 500 pips, as long as it is always 10% (or 5) you are risking. I don't count the pips. Read this post http://slurpeeforex.blogspot.com/2010/05/this-is-crucial-read-it.html
    :)

    Take care, guys!

    ReplyDelete

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