Thursday, December 30, 2010

2010 Blog Trade Results +37,780 pips

For 2010, I earned 37,780 pips from trades I discussed in this blog. These were trades I blogged about as I was preparing to place them or shortly after I did place them. How different from so-called "gurus" who talk about their successful trades only in retrospect. These were also all trades based on generally accepted technical analysis methods. There were no secret, mystical methods—in fact, there are no secret, mystical methods. Most of the pips were from trades taken between January and October as I began winding down my trading in November and only took a few trades in December.

Until July, I was posting my results monthly but I stopped doing so for several reasons. First, I could never resolve how to calculate pips for the blog when I scaled out of positions in pieces. I was lumping all pips together as though they were separate trades but that didn’t sit well with me. In some trades, I establish more than one position but this is extra work when blogging about trades. I asked for advice from readers but never received a method I thought was better.

Another reason I stopped was because I believed it was putting the emphasis in the wrong place. If one has solid reasons for getting into a trade, that trade is a good trade regardless of whether it makes money or not. Most people do trade to make money, of course. The reality, though, is that a trading approach is one key to that. The other key is discipline. One isn't a bad trader if they use a solid approach and apply discipline (including getting out of a losing trade on terms that were defined in advance).

Regardless, many of the trades I blogged about were good trades, both technically and from the perspective of earning pips.

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