Hey guys, I wanted to share with you my video trading journal which I am calling the drawdown manager.
The system is an automated trend trading scalping system. Details of the system and EA settings will be shared in future videos.
So why the title - The Drawdown Manager? I have currently set the system without a stop loss and as expected it has incurred a drawdown...a big drawdown.
I'm comfortable that the system will incur drawdown and my challenge as a trader is to manage the drawdown.
The ways I am looking to manage the drawdown:
1) Small trade size (10p a point, one micro lot)
2) Let bad trades sort themselves out
3) Use profits to closeout bad trades
4) Discretionary trading using the indicators I have created (Price action/RSI MTF)
The account was around 800 GBP prior to starting the system. I have an additional 800 GBP to put into the account if required.
The Drawdown Manager Trading Journal e01 - Embracing The Drawdown
The system is an automated trend trading scalping system. Details of the system and EA settings will be shared in future videos.
So why the title - The Drawdown Manager? I have currently set the system without a stop loss and as expected it has incurred a drawdown...a big drawdown.
I'm comfortable that the system will incur drawdown and my challenge as a trader is to manage the drawdown.
The ways I am looking to manage the drawdown:
1) Small trade size (10p a point, one micro lot)
2) Let bad trades sort themselves out
3) Use profits to closeout bad trades
4) Discretionary trading using the indicators I have created (Price action/RSI MTF)
The account was around 800 GBP prior to starting the system. I have an additional 800 GBP to put into the account if required.
The Drawdown Manager Trading Journal e01 - Embracing The Drawdown
Inserted Video
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