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Dear Michael,
Love your podcast. Very pragmatic and to the point.
My biggest frustration with trading at the moment is drawdown 38% from peak at the moment.
I only trade stocks. Trading 20+ years, read the book How to Make Money in Stocks in 2020 and had my first breakthrough trading the COVID rally and made 400%+ in my account, just trading 52 weeks highs and coming out at 10-day moving average as lots of high tight flags were forming like TSLA, JKS and RIOT (blockchain) and cutting loses at 7-8% per trade. Since Feb ‘21, I have suffered death by a thousand cuts and made 2 major errors. Did not short on the way down like Peleton and Zoom and did not realize the market environment had changed until I was down 30% and have traded much smaller since. Since Feb ‘21 I have had 2 winning trades out of 70. Very frustrating but with any trend following there will be drawdowns and this is how I’m taking it and trying to save what’s left of my capital for the next major uptrend. Trading extremely small at the moment to try the gauge when the next uptrend might be. Just have to be patient.
I appreciate you reading my email and look forward to your mini trend trading course.
Keep up the good work.
Best regard
Lee T.
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