Based on the extensive testing I have completed for the 1H-timeframe trend-following strategy, Trader1961 suggested that I start trading the strategy live from tomorrow. Green Light!!!
The extensive testing and self-discovery journey since my trading melt-down back in February, has been a long journey. Thus, I feel it’s only appropriate to insert this shot (courtesy of my photography-gifted sister) of me reaching the 3431m Atsunta Pass in a Georgian National Park after many days of hiking.
On that basis I will resume live trading with £100 risk per trade for the month of September, and reassess at the end of the month [£100 is a very small amount for me to risk in terms of my trading capital – no point risking more until the strategy has been tested in live environment for a month].
In addition I will aim to implement many of the other lessons I have learned in the past three years such as:
- Pre-Market Trader Assessment (taught to me by Paul Wallace) & Visualization – here’s an example of one
- Pre-Market Assessments
- Detailed Trade Documentation (quickly designed a template for this today)
- End-of-day & end of Week Reviews
- Keeping physically and mentally alert throughout the day
- Trading Psychology Reviews – see an example from some months ago
Basically the entire trading week will become heavily process-based (something else that Trader1961 keeps on emphasizing).
Whilst executing the K51H strategy (I really have to come up with a slighter sexier name!), I also plan to:
- Collect ideas for other trading strategies (and eventually invest time in developing them)
- Continue learning (such as following FuturesTrader71 and ‘Chat with Traders‘) as emulating successful traders is critical
- Continue practicing my strategy in a simulated environment using ForexTester2
Well, let’s see how the week unfolds. I will provide an update at the end of it.