Bad Assed Trader: Readers who tuned in last weekend will have read the final farewell from Faceless Bureaucrat. I'm on my own now, a Bad Assed Trader alone in a mad market, watching as the Euro soars over 100 pips against the Pound one day and tanks by the same the next, as it did on Thursday and Friday this week. Typical action in the frenzy that is the Forex...frenzy and huge potential.
I've been preparing myself for this adventure (Faceless Bureaucrat would have called it a "challenge" but I cast away such jargon and just head for the fun) and recently this has taken the form of training my subconscious to play a more active role in supporting my trading. Now I can't prove that it is this tactic which has turned my performance around this week or the fact that FB has gone once and for all (P45 arrived in the post this morning - YES!) or maybe I was already turning the corner (hey, it was a very long corner, let's be honest) but something has happened, something amazing.
I refuse to see it as a blip. I know it's only a week but I can feel that a shift has taken place in my mindset. It's a combination of things. I'm paying much more attention to lines of support and resistance and to cyclicity and giving more weight to them. I'm more discerning in waiting for evidence of support/resistance PLUS cyclicity PLUS price action to be in my favour. If one of these is missing then I skip the trade and don't care if I miss out. Bad Assed Trader has become more patient, waiting for the signs to scream before she risks money and she's fussy, she has high standards and knows if she drops them she may as well stick ten pound notes in the fireplace and take a match to them.
And, following the lessons I learnt on the last trade I blogged about on Tuesday (October 4) I have actually managed to pretty much stick to my action plan - I only take a trade if I'm really confident in it and then I just don't mess with it. I let it run its course. I had one exception to this where I realised after entering the trade that I wasn't fully confident and so when price very clearly started going against me I took it off for half a percent loss. This turned out to be the right thing but again reinforced to me how important it is that I only go for those trades where I have the confidence to see it through.
So what's this flying start then? Well, let's look at it this way. Perhaps Bad Assed Trader was an apprentice until Faceless Bureaucrat was willing to cede control. Perhaps BAT needed to learn all the lessons whilst it was safe to do so. Of course she'll carry on learning until she drops but best to learn the most difficult and dangerous lessons when it's safe.
Perhaps BAT feels that only now does she really need to make serious money, now that she's on her own.
Whatever.
The point is I've made over 5% in my first week of post Faceless Bureaucrat trading. I took 11 trades and won 7 of them, often making 2 or more percent on a winning trade. Now even Bad Assed Trader doesn't like to brag but after well over a year of trading I reckon I'm entitled to say that's my best ever week. And I'm determined that it marks a turning point. There will inevitably be peaks and troughs but I'm sticking to this new mindset. Let's see how it goes.
In the meantime I firmly believe we have witnessed the faceless bureaucratic caterpillar metamorphosing into a forex trading butterfly, and what a metamorphosis it's been. Thrills and adventure all the way.
And I promise to be honest if it all goes tits up next week.
I've been preparing myself for this adventure (Faceless Bureaucrat would have called it a "challenge" but I cast away such jargon and just head for the fun) and recently this has taken the form of training my subconscious to play a more active role in supporting my trading. Now I can't prove that it is this tactic which has turned my performance around this week or the fact that FB has gone once and for all (P45 arrived in the post this morning - YES!) or maybe I was already turning the corner (hey, it was a very long corner, let's be honest) but something has happened, something amazing.
I refuse to see it as a blip. I know it's only a week but I can feel that a shift has taken place in my mindset. It's a combination of things. I'm paying much more attention to lines of support and resistance and to cyclicity and giving more weight to them. I'm more discerning in waiting for evidence of support/resistance PLUS cyclicity PLUS price action to be in my favour. If one of these is missing then I skip the trade and don't care if I miss out. Bad Assed Trader has become more patient, waiting for the signs to scream before she risks money and she's fussy, she has high standards and knows if she drops them she may as well stick ten pound notes in the fireplace and take a match to them.
And, following the lessons I learnt on the last trade I blogged about on Tuesday (October 4) I have actually managed to pretty much stick to my action plan - I only take a trade if I'm really confident in it and then I just don't mess with it. I let it run its course. I had one exception to this where I realised after entering the trade that I wasn't fully confident and so when price very clearly started going against me I took it off for half a percent loss. This turned out to be the right thing but again reinforced to me how important it is that I only go for those trades where I have the confidence to see it through.
So what's this flying start then? Well, let's look at it this way. Perhaps Bad Assed Trader was an apprentice until Faceless Bureaucrat was willing to cede control. Perhaps BAT needed to learn all the lessons whilst it was safe to do so. Of course she'll carry on learning until she drops but best to learn the most difficult and dangerous lessons when it's safe.
Perhaps BAT feels that only now does she really need to make serious money, now that she's on her own.
Whatever.
The point is I've made over 5% in my first week of post Faceless Bureaucrat trading. I took 11 trades and won 7 of them, often making 2 or more percent on a winning trade. Now even Bad Assed Trader doesn't like to brag but after well over a year of trading I reckon I'm entitled to say that's my best ever week. And I'm determined that it marks a turning point. There will inevitably be peaks and troughs but I'm sticking to this new mindset. Let's see how it goes.
In the meantime I firmly believe we have witnessed the faceless bureaucratic caterpillar metamorphosing into a forex trading butterfly, and what a metamorphosis it's been. Thrills and adventure all the way.
And I promise to be honest if it all goes tits up next week.
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| From Faceless Caterpillar to Bad Assed Butterfly |
Glad to hear you've had a period of positivity! keep it up!
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