February has been good. I managed to recover from my losses in January, and made a bit of profit above that.
Trades opened: 10
Account growth: 3.96%
Back to the Crosses
After January's loss, I reduced my position size to a maximum of 1.5%, and became more selective with my trades. Because I was more cautious, I only opened three trades in the first half of February. Psychologically, I found that much too little. With so few trades put on, I found myself becoming more attached to the outcome of those few trades. That's definitely not a good thing. A trader should be objective and detached.
Halfway through the month, I revisited my backtests and research, and decided to trade the minors again (but not the exotics). I expanded my backtests to make sure I was doing the right thing (all the systems I currently trade have been tested on 25+ currency pairs).
I was reluctant to go back to the minor crosses, as changing your trading plan is usually bad. My systems and risk management are still the same. But trading more often has cured that psychological itch, and I found myself much more objective again. A win here and a loss there doesn't matter so much, as there'll likely be a new trade tomorrow.
Because I'm finding more trades more often, my plan is to continue limiting each position size to 1.5%, and let compounding do the heavy lifting.