Back to Demo

I went live trading at the end of January.

Unfortunately, at the same time my EA's started to lose and exposed my bad manual trading. At the time I had a feeling that my manual trading was still negative, but my EA's were doing well enough to cover it up and hide those danged little demons. After about 2 months of fast declines and slow gains I have decided to go back into demo.

So after loosing my first account, I took week off and started fresh. I was armed with some insight from listening to one of Dr. Elders books "Trading for a living". He has some good insight into both market and individual psychology (Go figure that is what his Doctorate is in). I am starting to develop a new system that I will post a seperate entry about. If I would have followed my system, without demon's I would have been up about 16%.

I have found that posting my daily trades becomes a weight on me, and then neglect all blogging. I will attempt to blog more, with good data, instead of the noise of my trades.

Here are some of the things that I was doing wrong.

• Not looking at the forest, I was only looking at the single time frame
• Counter-trend trading.
• No Stop loss. I am simply not good enough yet to either of the last two items
• Overall feeling that I was trading just to trade and was "shooting fish in a barrel"
  
• Trading too much

Here are some things that I am building into my new system:

• Looking forward to the higher time frames
• Less trading
• Utilizing proper Money Managment
• Overnight trading, this is when the moves seem to really happen
  
• Adding "Triple Screen" style entries.
  
• Utilizing Limit orders for market entry

Some personal items I have to work on (Demons)

• Overtrading
• Jumping into the market.
• Trading outside of my system
• Taking risks that I should not