So, as you may have noticed I have stopped doing the weekly reports since I don’t feel there’s any point in doing them. Since it goes up and down all the time, reporting only one week doesn’t give you anything. So im gonna try monthly instead.
I don’t have any exact figures for the last month, but i can be described in one word, terrible. Right now im ~35% down, and that’s with the last couple of days getting a lot of profit. At worst, I was about 50% down.
According to my stats on eToro, i’m 21% down for April. Which is almost my whole profit for 2015.
I think one of the major factors in the big loss is that the Euro went up a lot, and it seems like everyone still thinks it will go down again. Sometimes i feel that my trades don’t take a loss since it will affect their stats. The logical thing to do is to take the loss and move on. Not holding on to a hopeless position just to maybe get a few more copiers before going bust. That’s why I like to keep my trades only for a couple of hours with a set stop loss and take profit. Sure, every now and then I change my take profit, but never my stop loss. This way i will never risk more than 1-2% of my capital. But right now, looking on my traders there are trades risking 10-15%, which seems kind of nuts. But still, never close another traders trades. They probably have ha strategy, that’s why I’m copying them and not the other way around.
I have’t been trading by myself for the last couple of weeks, i’ve been busy developing some software to help me in my trading. Hopefully I can reveal the details soon.