75% Drawdown : No Excuses

• Before the MF Global fiasco, I used to leave 100% of my trading capital with MF, and my rule was to use no more than 25% of that at any one time for supporting risk positions.
• Post-MF con job, I started with only 1/3 of my intended risk capital in my margin account with Saxo. Instead of capping IMR usage at 25%, I had upped it to an equivalent 75%. The balance 2/3 of earmarked risk capital is held in my bank account, not with Saxo.
• Fell into same trap as I did in 2006 (-90% between Mar-Jun2006). Fresh start, expectation of a divine right to succeed, got careless. Before I knew it, a series of bad trades and my Saxo account is now down 75%. 
• The only positive out of this is that unlike in 2006, I did not make the mistake of averaging losers. This time round, it was an unbroken series of bad trades that killed me. Part of the problem was caused by the separate equity locations - as I was losing money in Saxo, I kept thinking I had more than enough capital to support continued trading with funds outside Saxo. False comfort from head in the sand approach. Instead, I should have stopped trading as soon as the Saxo account drawdown got serious. First order of business should have been to make sure the account survives on its own.
• However I look at it, this is a FAILURE OF TRADING DISCIPLINE. After 2006, I have not had a single instance of having to top up my margin account. Now, am delaying required transfer of funds from bank to Saxo until I get myself mentally sorted out. Not trading until I am over this. 
• I need to bring down the 75% Saxo limit to a more realistic level to avoid blowing it up on a standalone basis, regardless of additional segregated risk capital. Margin calls are very damaging to trading confidence and psychology and to be avoided at all costs.
• Any time you have to top up your margin account is a bad time, however small the amount you started the margin account with. Don't do it until you are sure you have absorbed the lessons of the prior circumstances leading to that account drawdown.
• [Actually have 2 token positions to maintain interest and sensitivity to markets - long 1 lot each of SFM2 @ 1.0937 and TYM2 @ 130-13 (GTC just filled). Intention is to buy more TY into large dips].