Stops? Where?

September 12, 2008

Placing stops is very important in a trading plan. Last night, I misplaced my trailing stop and as can be seen in the picture below, the target was hit, but I was not there! I was stopped out a couple of hours before!!


There is no secret

September 3, 2008

The secret is: there is no secret!

Po in Kung Fu Panda

Po tried a lot to be a dragon worrier and he was handed the secret of the dragon by his master. There he found out that there is no such a thing as the secret of the dragon. The rolled paper was just a mirror.

Most traders are much alike Po and Tai Lung (who spent 20 years in prison because he wanted the secret for evil purposes), spend their time, energy and hardly earned money looking for secrets, Holy Grails and success potions or spells. They mostly forget that the secret is within them. Their behavior and psychology is the secret and there is no magic.


August 2008

September 1, 2008

26 trades, 16 winners ( 61.5%), with a total -164 pips (-4.4%). For the whole year, we are up 465 pips or 14.5% risking 1% of the equity on each trade: