No one is more guilty than me of thinking that things are finally about to turn and that I might just have cracked this trading lark. I've done it on several occasions this year: January, May, August and again this month. But now, I feel that it really is more than just another false dawn. The other 3 times, I had a totally different strategy that I struggled to make work consistently. This time, I'm a lot happier with my whole approach.
When I made the switch from my old way of trading to the new one, I underestimated how long it would take me to fully adapt to the changes. A good start can give you false impressions and I was guilty of believing that one good week and a couple of outstanding days, meant that I had finally made it. Wishful thinking. A difficult period has followed and I discovered a few cracks that needed filling in. This week, things have started to click into place. I have moulded my new approach into something that I can now say has real potential.
I have a strategy that finally suits my personality and has considerable room for growth in terms of the profit I can make in future. The new approach is much easier to implement than my old one. As a result, the old focus and patience issues that have plagued me throughout my trading life have now vanished, as I don't require the same high levels of intensity and concentration. My other major issue has always been discipline, especially when redding-up. This is now just a minor issue because my new approach does not use the large liabilities that I used to risk. My largest loss was £50 this week and every other loss was under £40. This is the first week in a long time where I have felt really in control and that I'm progressing quickly. It's only one week but the hard work I've put in sorting out my frustration levels and moulding a new strategy, is now bearing financial fruit - and I badly needed it to.
Is it just another false dawn? Too early to say but my trading has undoubtedly stepped up another level.