If anyone is reading this, it is gonna be a half open-ended conversation / half monologue type rant kind of deal where I'm just talking to myself out loud (this is a journal afterall.
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So apparently, my biggest problem NOW is.....taking profits!
I've had a truly baffling number of amazing trades in the last 3 months, the last 4 weeks have also been great, but not taking the profits and then on top of that, letting highly leveraged trades go against me, as I stick to my higher tf analysis has been killer on my account. I've had my best trade EVER within the last four weeks, when I doubled my account 37 hours after I started a trade sequence!!
***DID.NOT.THINK.THAT.WAS.POSSIBLE.WITH.AN.AMERICAN.ACCOUNT.***
A big reason why I hadn't been taking profits is b/c this is my busy season, and with everything going on, I don't feel I have the mental wherewithal to 1)keep finding my entries and 2)patiently/skillfully getting into them, so I really was just trying to get a trade on and let it ride for a multi-week trend; a set-it-and-forget-it kind of thing.
[[Even tho I've been letting amazing trades turn into losses --since I was trying to make August be a 'hands-off' type of trading month-- I was actually taking notes and screenshots the whole time, so it's been a GREAT learning experience irregard...I think I can say that I FINALLY have an exit strategy for Failed Entries that I am fully comfortable with.
But yeah, as far as taking screenshots, I had a week where I slept no more than 2-3 hours at a time, b/c I desired to take continuous screenshots around-the-clock.]]
As far as 2,4,6 Accumulation goes, I was originally in agreement with 39% ducks and adding a zero in 7 targets, but it looks like I might be better starting out with 12 targets of 21.2%, or 10 targets of 25.9%, and then after hitting a few targets and getting more comfortable with putting my max lev trades on pause and re-entering, I will go back up to 39% targets.
In all honesty, it's possible that I am better with my entries than I give myself credit for...
In a way, building up to Max Leverage and then resetting after a duck, (or even putting the trade on pause as a 'Virtual Hedge' in order to reach that duck) kind of feels like this. It feels like I took a VW Beetle, converted it into a Lamborghini, and then put the pedal to the metal for......one breath in, one breath out.
Like, when I make a Lamborghini, I want to take that sh!t to the Utah Salt Flats, and firmly stand on the pedal like I'm at the bus stop waiting for that next bus to arrive!
{{Feel free to switch 'Lamborghini' with 'Procharged Mopar' if that makes the analogy more relevant for you
}}
Anyways, that's just something mental that I have to get myself comfortable with.
The way I understand it with accumulation, even when you DO build up to max lev, it doesn't mean that you necessarily have to hold THAT trade to your % target. So yeah, my issue is closing that trade as a 'Virtual Hedge'/'Putting my SPACE on ice' , and then at some point, re-entering at that same maxed out leverage. ((I kind of wrote about this issue recently, I know...just mental roadblocks
SMH .)
I don't know...maybe once I've made it to max leverage and then need to VHedg it, I should do my re-entries at 50% of the max lev and then just double that after PA has proved itself...
I think I'll try that then...this way, if my re-entry attempt is no good, my losses will only be half the impact on the *MAX LEV pips* I had gained;
But, if my reentry is good, I'll double up to get back to max lev again, and my average line for max lev (a 50% RET) should end up around something respectable, PA-wise.
Or, perhaps I would do a 40% max lev reentry, and then I could add-in the other 60% at a 40% RET.