Comments on: December 2007 Review http://www.forexspirit.com/2008/01/10/december-2007-review/ Colin McGinley's journey of consistent, profitable forex trading Sat, 19 Dec 2009 17:33:41 +0000 http://wordpress.org/?v=abc hourly 1 By: james http://www.forexspirit.com/2008/01/10/december-2007-review/comment-page-1/#comment-906 james Tue, 15 Jan 2008 13:18:51 +0000 http://www.forexspirit.com/2008/01/10/december-2007-review/#comment-906 Colin, it's good to see that you are not losing heart. A brave man will pick himself up and keep on fighting. I agree that whatever that happens will allow you to build on the experience and tweak your strategy for better results in the future. I am inspired by your blog and have signed up for Dirk's mentoring class of 2008. Looking to join you guys in the trading journey! Colin, it’s good to see that you are not losing heart. A brave man will pick himself up and keep on fighting. I agree that whatever that happens will allow you to build on the experience and tweak your strategy for better results in the future.

I am inspired by your blog and have signed up for Dirk’s mentoring class of 2008. Looking to join you guys in the trading journey!

]]> By: Colin McGinley http://www.forexspirit.com/2008/01/10/december-2007-review/comment-page-1/#comment-905 Colin McGinley Fri, 11 Jan 2008 16:56:06 +0000 http://www.forexspirit.com/2008/01/10/december-2007-review/#comment-905 My 'line in the sand' was essentially vaulted over by the sharp drop in EUR-USD and AUD-USD on December 13-14. Instead of seeing my drawdown smoothly approaching and passing through my 'line in the sand' of about 50% drawdown I woke up to find it way past that threshold already. My actual max gearing allowed by my trading plan was around the 12:1 range. By trying to catch a falling knife one too many times in November my leverage ended up being around the 20:1 level. Good luck with your trading blog! My ‘line in the sand’ was essentially vaulted over by the sharp drop in EUR-USD and AUD-USD on December 13-14. Instead of seeing my drawdown smoothly approaching and passing through my ‘line in the sand’ of about 50% drawdown I woke up to find it way past that threshold already.
My actual max gearing allowed by my trading plan was around the 12:1 range. By trying to catch a falling knife one too many times in November my leverage ended up being around the 20:1 level.
Good luck with your trading blog!

]]> By: caprica http://www.forexspirit.com/2008/01/10/december-2007-review/comment-page-1/#comment-904 caprica Fri, 11 Jan 2008 12:51:45 +0000 http://www.forexspirit.com/2008/01/10/december-2007-review/#comment-904 glad to see you are back online Colin and you are getting back up on the horse. I am looking forward to seeing how you go about tweaking your trading plan. Looking at your equity curve, it seems to me that you had broken of some of the fundamental rules in the 4x1 strategy (i.e. not closing out your positions when your drawdown crossed your "line in the sand" and never holding more than 4:1 leverage in positions open). Do you know how highly leveraged you where at the peak? p.s. I have been inspired by your blog on forexspirit.com. I have decided to start writing my own trading blog this year. It is over at www.macrotactics.com glad to see you are back online Colin and you are getting back up on the horse. I am looking forward to seeing how you go about tweaking your trading plan.

Looking at your equity curve, it seems to me that you had broken of some of the fundamental rules in the 4×1 strategy (i.e. not closing out your positions when your drawdown crossed your “line in the sand” and never holding more than 4:1 leverage in positions open). Do you know how highly leveraged you where at the peak?

p.s. I have been inspired by your blog on forexspirit.com. I have decided to start writing my own trading blog this year. It is over at http://www.macrotactics.com

]]> By: ewmeadows http://www.forexspirit.com/2008/01/10/december-2007-review/comment-page-1/#comment-903 ewmeadows Thu, 10 Jan 2008 20:15:09 +0000 http://www.forexspirit.com/2008/01/10/december-2007-review/#comment-903 Colin, I'm happy to hear your back in the running. I deeply sympathize with your losses, having lost about 18% of my account in the same basic market conditions. I too will NEVER be the same (and that's a good thing), and, I have come away with a much better understanding of myself, and trading, (specifically, as I think, in your own case, money management). Dirk has been extremely helpful, and grounding, and instructive for me, during this fall, and consequent "revival", and, I have somehow managed to make back 25% of what I lost, and my confidence and hope are back to where they were, but definitely tempered by this experience, and being more Cautious and Decisive, just about sums up the essence of the lessons that I have learned. I hope your 2008 is THE BEST ever for you and your family, and that your recovery of losses will happen swiftly, Earle Colin, I’m happy to hear your back in the running. I deeply sympathize with your losses, having lost about 18% of my account in the same basic market conditions.

I too will NEVER be the same (and that’s a good thing), and, I have come away with a much better understanding of myself, and trading, (specifically, as I think, in your own case, money management).

Dirk has been extremely helpful, and grounding, and instructive for me, during this fall, and consequent “revival”, and, I have somehow managed to make back 25% of what I lost, and my confidence and hope are back to where they were, but definitely tempered by this experience, and being more Cautious and Decisive, just about sums up the essence of the lessons that I have learned.

I hope your 2008 is THE BEST ever for you and your family, and that your recovery of losses will happen swiftly, Earle

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