This week, 1,146 pips found their way into my account. This is an average of 229 pips per day which is above my baseline average of 150 per day. We had great price movement this week in the pairs which allowed me to close out most of the positions I took. I had taken a couple of longs(short dollar and/or yen) and those are the one that are still open and against me a fair amount of pips. Nevertheless, I do think the pairs will retrace a bit before heading lower and if not, well, I'll be able to close them someday as prices generally tend to revisit the same places over time.
This week my drawdown averaged about 4,000 pips. I'm keeping an eye on it or course, but it isn't too much of a concern since my drawdown turnover(drawdown pips divided by # of pips made per month) is quite low. For example, I may average a 4,000 pip draw down, but if I've churned out 4,000 pips in closed trades in the month, I've effectivly raised my capital the same amount as the drawdown which means the drawdown is now a lower percentage of overall account size. And really, the drawdown is simply an inventory I maintain just like a store. And as prices move I'm able to sell that inventory for a profit. So it is natural to maintain a drawdown sort of like a store maintains an inventory.
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