What costs me more money than anything else is my rampant disorganisation. Disorganisation is a symptom rather than a cause, but more about that later.
For now let’s look at what I can easily fix, just by setting myself a simple task:
- Set up my order templates and automated closes set up properly with the correct magic numbers and risk paramters.
- Set up my templates properly and get rid of all the junk in these folders.
- And… be at my desk at 7:20 with my bullet proof coffee because otherwise I miss some fantastic opportunities at the futures open.
Stop wasting so much time entering stats in Edgewonk that I never use. Edgewonk is fantastic but the only things it needs to tell me are:
- What was the best SL for the trade?
- How many R:R did it achieve?
- How much of the trend did my rules get?
- How much of the trend did I actually get?
- Would it have been better to leave this trade alone?
My technical set up is shit. The VPS doesn’t have enough memory and sometimes hangs at exactly the cash open. Metatrader is slow and it takes so much fiddling about to get the lines where I want them on the charts. and now ICMarkets has been thinking about it for a while before it actually places a trade. Plus because I cannot use partial lots, it is difficult to make correct adjustments for risk and partial profits.
These are irritating and if i was using real money I would have use a faster VPS, but these factors alone are not what causes me to lose.