Wednesday, June 03, 2009

Set and Forget


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As previously mentioned, I am testing out a set and forget system for the forex futures. 7 wins and 2 losses on paper thus far, maybe a couple more days of testing to build up my confidence in the system and I should be ready to post it daily to this blog. I'm a bit excited about this one, because it: a) looks very promising b) more and more I am loving the idea of set and forget c) frees up my time to do other things (trading and non-trading related).

I have gotten into a bad habit of adding to my losing positions in recent sessions. The fact that they turned out to be winning trades is a bit of a concern from a trading process perspective, as my bad habits are being rewarded, and consequently re-inforced. The trading rule of never adding to your losers is a time tested rule, and I must work harder to follow this rule.

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