2010 : Look Back with Gratitude

Some lessons from 2010 (for own reference) :=

• "Darkest just before dawn" .. must have a plan, follow the plan, don't give up, don't despair. Of course while waiting in the dark for dawn, you have to stay alive long enough by controlling your losses. In 2010, submerged in darkness for the first consecutive 10 months; but 1 shining month at the end was enough to turn despair into average. Hopefully, this distribution of bad runs is my once in a lifetime black swan and will not repeat itself. Having a plan also helps avoid panic when the going gets tough.
• "Going for the jugular" when dawn breaks. Risk levels were ramped up by multiple factors of normal on post-21Sep10 FOMC announcement of QE2.
• Positive 2010 result = Lucky? Maybe. No, make that absolutely. Grateful to whatever Gods may be.
• It is possible to trade profitably using charts only. Ignore street chatter and fundamentals. When it goes wrong, sudden jump in P&L pain and visual of chart direction will tell the whole story. Thinking about fundamentals (and why?) will only lead to inertia in cutting of losses. Finally after years of trying, I am now able to trade pure charts.
• Winners here in 2010  : 1. +Gold   2. -EUR/+USD and  3. -US10YY.

2010 turned out strictly T4L. T2W (Trading to Wealth) still a distant pipe dream but remains the long term objective here. 2011 = T4LY6. Getting better at this (I hope!).