I trust you have all been trading well since the last blog and February is proving to be very profitable 🙂
In light of all the blogs over the past 5/6 months I wanted to bring to the table some social proof that what I preach, works, and that I practice it daily to get the results I want.
I have uploaded a photo of a letter I recently asked ETX to produce for me to breakdown the past 6/7 months of results on an account I opened purely to give you (and all those aspiring trades out there) an idea of the possibilities trading can bring with only a few minutes work each evening, even on a small account.
[subscribelocker] What I hope this does for you is:
1. Prove that you can blitz what anything else in the market can offer on a % comparison basis.
2. Acknowledge that trading can be a part time commitment. I traded this account mainly end of day, when time was available, allowing me to trade my other accounts, coach, go to the gym, travel, present etc…
3. Confirm that you don’t need to trade 25 times a day
4. Assure you that you CERTAINLY don’t need to profit on every trade! I had more losses than winners.
5. Understand that it is key to understand your ‘edge’. I know that I lose a lot but my winners provide a significant return to cover losses…and provide profit.
6. Appreciate that not every month was a profitable month. Risk manage and keep your drawdowns low.
7. Confirm you need to have good ‘Bouncebackability’ to respond after a losing streak, as the winning trades are so important that you can’t afford to wallow in self pity and miss them.
8. Affirm that you can have a lot of fun along the way (remember the story about placing trades then having a full day to enjoy the delights of South Africa)
9. Solidify that you don’t need to be chained to your charts. Trading is to enhance not inhibit your lifestyle.
So if you are not yet seeing results like this, don’t worry. Use this as an injection of social proof/belief. I am not unique in anyway, just appreciate that I need to be disciplined to follow my plan and this stems from continually working on my mindset / psychology.
Now put yourself down the line, 6-12 months time, when you have done the same and people are prepared to invest in you (or you are prepared to capitalise yourself). That 40% then looks pretty interesting from a cash perspective on £100, £200 or £300k+ accounts. But remember to not think about the money too much as that starts to trigger the emotion!
Anyway, I have the pleasure to pop over to SA again for a couple of weeks, so my next blog is going to be April time.
Until then, happy trading.
p.s. PLEASE NOTE – ETX do not normally provide a breakdown of performance, this was a one off due to unique circumstances.