Some observations on how life interrupts trading

1.55 pm.

Just a brief note to say how theoretical testing differs from real life trading. My system generated a signal to go long in EURUSD when the level was 1.3066. At that time I was at a dinner with my daughter and her partner, and could not monitor the markets. The next chance I had to look at the markets, EURUSD was already over 1.31 and currently it is at 1.3170. A 100 pips missed. But I am not going to chase this after I missed the signal. This is real life. If one has to succeed in trading it has to be with all the constraints of real life, not in some theoretical paradise. I’ll bite my tongue and accept this – to pretend otherwise means I am living in la-la land. I want to succeed in the real world, not in la-la land.

For this reason I think it is crucial to think how one can adjust one’s lifestyle around the trading times. Location becomes very important. For that reason, I think once I can settle my personal matters around residence, I might move out of Australia to Hong Kong or Singapore, simply for the more supportive time zone.

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3 thoughts on “Some observations on how life interrupts trading

  1. Jones

    Great work on the latest trade Zen. Is it possible to create an EA for your system? Otherwise, I would recommend installing Teamviewer on your computer and mobile. Get yourself a large screen mobile (I personally prefer Samsung Galaxy Note 2), that way you can monitor your trades anywhere anytime 🙂

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    1. ZenFXTrader

      Yeah, feels good finally. The EJ trade may be the best one ever in pip terms – close to 400 pips already! It was the slow, hesitant markets of the last 10 days that was the real problem for me. My system doesn’t do well in such direction-less markets. But overall, even allowing for such periods (last 2 weeks & all of August last year) the system still returns fantastic profits, so I am even more determined to stick with it as it is.
      Re your suggestion for EA: Yes, I guess it is possible to program this as an EA, but i) I don’t like MT4 & ii)the system is pretty simple to evaluate, it takes a few seconds scanning the charts to detect a signal. The real issue is what to do when I’m sleeping or otherwise engaged. I do have txt alerts setup, and that helps, but it often means I get no sleep! Trading hours and lifestyle issues has been the biggest problem for me for over 5 years. The best solution I can think of is to live in a good time-zone. Australia is pretty bad (NZ, Hawaii, West coast US, East coast US are worse!). As time-zones HK / Singapore are a good compromise, India / Dubai would be good, Europe is the best. Or maybe I need a trading partner in one of those locations! 😉

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