018: Survival
Can't believe I actually survived the 58% absolute drawdown, whew! I was already expecting to experience margin call and thinking of opening another demo account, but the long-term fundamentals finally prevailed...or is it?
I decided to close my EURUSD short at 1.11 (instead of waiting for it to drop further to 1.10 or lower) because I didn't want to risk on the US CPI last Friday especially while expecting Germany's Business Climate to be on the green side.
I'm expecting EURUSD to bounce up again considering this news about US weakening again and the possibility of an upcoming world recession.
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Apparently, my plan of trading live around Q4 this year will be moved on Q1 next year because aside from the necessity of changing my current trading strategy (I cannot afford to have 58% drawdown or actually risk experiencing margin call in the real account), I decided to attend a seminar and review on weekends starting this June and take the board exam to be a professional licensed real estate appraiser. No, I'm not changing careers, I just thought that this will certainly help me in the (very distant) future regarding my build-sell real estate business plan.
Why prepare so early?
It's the last board exam to be offered to non-BS Real Estate Management graduate, and it's nice to be prepared itself. Who knows, it might open doors to better things soon.
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Even if I survived in our 1k Challenge, we decided to open another account --2k Challenge this time which is closer to what I actually intend to do (open a small real live account, around $2k initial balance by next year). I changed my strategy to the following:
Fundamental
0.2-0.3 lot at most per week open for currency pair(s) with strong weekly trend in the daily and weekly charts, following non-institutional position in COT and weekly economic news (swing trading)
Technical
0.1 lot per day, aiming for around 10 pips per day in the 1 min. chart, 3-4x a week (intra-day trading)
