Carnagie, you seem to have a mindset in which you expect your trades to be absolutely perfect - nailing the bottom in this case. You realize that this is not gonna happen. OF is not a holy grail as you yourself said.
Also, maybe you traded too much? Why did you get so scared about 5 pips drawdown?
A 5 pip movement could be triggered by somebody sneezing in the market. At this level it's more or less randomness (actually HFT, but irrelevant for our discussion).
I used to do this a lot. In fact I was thinking of the anti-system - trade a sizable (but not dangerous) position, wait until I got so scared I wanted to bail out, and then double in, in the idea that everybody gets scared here and thus they reverse the flow. Of course, this doesn't work either for a variety of reasons.
Now I trade smaller, and regularly catch 100 pips movements. No sweat, no waking in the middle of the night to check positions. And the funny thing is that this is more profitable: sure, you win a lot less than if you were to play aggressively on each trade, but you actually win, because you don't get scared out so much and you can actually handle the bumps.
Also, maybe you traded too much? Why did you get so scared about 5 pips drawdown?
A 5 pip movement could be triggered by somebody sneezing in the market. At this level it's more or less randomness (actually HFT, but irrelevant for our discussion).
I used to do this a lot. In fact I was thinking of the anti-system - trade a sizable (but not dangerous) position, wait until I got so scared I wanted to bail out, and then double in, in the idea that everybody gets scared here and thus they reverse the flow. Of course, this doesn't work either for a variety of reasons.
Now I trade smaller, and regularly catch 100 pips movements. No sweat, no waking in the middle of the night to check positions. And the funny thing is that this is more profitable: sure, you win a lot less than if you were to play aggressively on each trade, but you actually win, because you don't get scared out so much and you can actually handle the bumps.