January turned out to be a horrible trading month for me. My account went from $1000 to just over $500 in January. My target is $3000 before I make my next withdrawal, and I am determined to reach that target. I will not diverge from my trading style to get there. Some loss is expected. I know my strategy works, but sometimes knowing *when* to stay out of the market is the most important part of a strategy. This is where I failed in January. I even recommended to a few of my customers that they stay out of the market until February. I wish I had taken my own advice.
Also, getting very familiar and comfortable with the currency pair you are trading is of utmost importance. I have been experimenting with EURCHF and GBPCHF, because GBPJPY had started behaving differently at the end of 2008, but I have not had enough time and experience with them to say that I know them well. This may have been part of my problem also. There's a good chance I will be trading GBPJPY again soon, so maybe that will help me reach my next goal of growing the account to $3000.
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