Here's a brief overview of last weeks trading.
Profit £119
All days were profitable other than Sunday. I had an open trade on EUR/USD that was underwater so I closed out for a loss. It's the only bad trade I have made in two weeks. The mistake I made was in increasing my stake twice as the trade went against me. The lesson is not to be greedy, if a trade goes against me I MUST NEVER ADD TO IT. I don't need to double the size of my bet to gain only half the points back. Or double it again. I was very lucky, £20 a point on Forex is a fortune, at one stage £2500 down I was relieved to get that down to £815.
It would have been a fantastic week had I simply left the original £5 stake and called time on my losing trade, a losing trade of £200 is not a disaster and easily rectified.
Monday £22
Tuesday £58
Wednesday £161
Thursday £323
Friday £252
Sunday -£697
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