It has been a while, but I am back and committed to publishing regularly.
What has happened since the last time you heard from me? - some intense trading followed by break periods.
After a very profitable July, I experienced a down month in August which led to a drawdown of -6.65% on my initial balance.
Return based on initial balance
The August drawdown was partially due to me deciding to double my size, and partially due to personal life events which affected my psychology. Both of these led to me taking good trades, but not being comfortable holding them and closing them at losses.
This reminded me of a weakness which I have - once I make good returns, I become overconfident and give them back to the market. I am aware of this and decided that sticking to discipline and giving myself a break, was the right thing to do at the time.
Thus I didn't have very active rest of August and most of September. Nevertheless, I recorded a profitable September, making my drawdown back to only 4.74%.
This led to October in which I could go in feeling relaxed and ready psychologically for the trading opportunities. In the 1st week of the month, I made returns which not only covered my drawdown, but I managed to reach new highs in terms of performance since March.
Performance Graph for 2020
After this success, I decided it's time to take a break again, as it was 2 weeks before the US election, and I didn't want to trade the volatility surrounding this event. It boosted my discipline, as I saw opportunities, which in the end proved profitable, but I didn't trade, because I had said that I would wait for certainty around who the next president is going to be.
What is going to happen with the website going forward?
Now you are up to speed with everything that has happened, although in a very summarised manner, it's time to reveal the future plans. I will be publishing daily, information about every trade that I have done since September, with reasoning on why I took it, how it made me feel psychologically, and tips on how to overcome tough situations and hopefully improve your own trading by not making the same mistakes.
The posts will follow a journal format, and as soon as I catch up to the present day, you will be reading about my most recent trades.
I have also started to write a CFD trading course. My plan is to make it free for everyone and also record videos which would accompany the text. The goal is to make it not as general, as the other content available online, and hopefully helping traders to improve their skills, whether they are newbies, or more experienced. I am aiming to make the text available by the end of the year. I will keep updating the course with new content, and will start filming the videos shortly after the text version is available.
Final words - I have also worked hard on improving my coding skills - specifically python, so I can automate some of my trading and analysis. Going forward, I would be sharing some of the software which I write, so traders can make better decisions.
Thank you for reading and stay tuned for my first post from the new series tomorrow.