In today's blog post I just want to take the time and analyse my long term balance here on the Trader Contest. I know I have been performing poorly and not trying to make any excuses but when I was trading here I wasn't having any kind of risk management in place as I always trade full size. Usually if I wasn't doing any kind of money from the first week that I was going even further and took random trades just maybe I get lucky . Well it seems that strategy has not worked out so well.
Right now my main objective is to bring my long term account balance back to BE. This objective must be achieved until the end of the year or if not at least by January 2016.
Right now, if you analyse my account balance curve you do realize that we're in the process of developing a major H&S pattern which is a reversal pattern. So in this regard the bear market cycle must ended and we're going to enter into a secular BULL market. but even in secular bull market there are going to be minor recession periods so don't despair.
Best Regards,
Daytrader21.
Right now my main objective is to bring my long term account balance back to BE. This objective must be achieved until the end of the year or if not at least by January 2016.
Right now, if you analyse my account balance curve you do realize that we're in the process of developing a major H&S pattern which is a reversal pattern. So in this regard the bear market cycle must ended and we're going to enter into a secular BULL market. but even in secular bull market there are going to be minor recession periods so don't despair.
Best Regards,
Daytrader21.