Today, I shifted to 100% mechanical trading. The trading system is the same as earlier - I was trading the Range Compression Trading System that I have been trading since January 6. Until yesterday, my trade entries were discretionary, while the Initial Stops and Trailing Stops were mechanical. The difference is that today, even the entries were based on mechanical rules.
The Initial Stops for both of today's trades were a bit wide, but I chose to enter anyways since the mechanical rules were pre-decided. The Trailing Stop rules were the same as earlier, and caused me the usual heartache. In the Short Trade, I had an MFE (Most Favorable Excursion) of +25 points, but I booked a loss of -18 points. In the Long Trade, I had an MFE (Most Favorable Excursion) of +16 points, but I booked a loss of -13 points. So, the total intra-Trade Drawdown today comes to 72 points - more than keeping up with the intra-Trade Drawdowns last month.
With a losing streak of 7 consecutive losses now, this is my biggest drawdown this year. I am down 90 points from the peak.
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