Friday, December 26, 2008

December 2008. and year end results

+121 pips
+8 %

Good month. I had trades on 13 days and I had only two losing days. I'm still counting my pips in terms of half size and full size pips, but it's little wrong because I never trade in "full size". So I had 242 pips but I call it 121. I stick with that and will probably continue to do so because of my perception. If I say I had 40 pips day I would be totally satisfied, but when I cut that in half and have 20 "full size pips" than I think that I could squeeze few pips more. Also when I'm in a loss and cut it mentally in half it's easier to steer correctly. It's just exactly as in retail where prices are quoted as 299.95 and not 300. It just works.

-11.5 %

As far as year goes I'm down -11.5%, not much, but down. Again this was my best year so far. I had 7 profitable months and majority of loss is from blow up days. I made big progress this year in my trading. It's now much more stable than before. I got so much help from writing this blog and interaction with readers, it was crucial. I was many times in situation when I thought "I can't do that, what would people on my blog think about that stupid move". It really made difference. I'm thankful for that.

For next year my plan is to stick to the course that I'm going past two months. I proved to myself that I can be profitable with what I'm doing without some special bailout trading with averaging and risk of 20% all in trades. So I will look to continue with scalping and put more attention to trading with bigger size lifting it gradually but decidedly. My main theme will be "If I could trade profitably this month with this size than I can do it again next month with a notch bigger size".
Also I have plan of taking part of profits and paying myself. I never done that before because I trade with fairly small account and I'm net negative so adding up was only option. Now I'm in situation where size of trades can be issue for me, because I'm not so used to risk in a day what I earn in a week on my regular job. So there is no point in making account larger because I first got to get used to trade in larger size as far as money goes and not percentages. I think that sending profits back and turning them in money, in real bills will reaffirm things. Trading is to much virtual, percentages and numbers on the screen are not enough. Feel of real cash coming out from my trading activities will land things a bit and that is important, make it all more real. It doesn't matter if I had bad month before or will in future, in a month when I made nice profit part of that got to come in my hands. It's also thing of perception and perception is only thing that we have.

I wish you all prosperous and happy 2009.

Orionmachine started with vblogging and have a channel on youtube, and all you who read comments here know who he is, so check it out. I think it's very good way for him to express what he wants, better then to write a blog. It's just good medium for him.



Your progress as a trader this year has made me very proud. It was a pleasure following along on your journey. You have shown me things as well and I thank you for that. Next year will be pivotal for us both I feel.

Enjoy the new year my friend, be safe and have fun.

4x For Life said...

I am glad to have taken this ride with you guys as well, i wish you and your family's all the best in 2009


Thank you, likewise.

StockHunter said...

"I made big progress this year in my trading." <--I like to hear that! Keep up the good work, and have a happy new year!

Jules said...

Happy for you, FX. Good job! :-)

You're going to have a fabulous 2009 :-)

FX said...

Best wishes for new year from me to you all, my friends!

Mike said...

Keep on trading and I'm sure 2009 will be better. It takes time. Happy New Year!