Last week.
I made 21 trades last week and here's the bottom line.
20 successive successful scalps for a total profit of £176
The 21st trade lost £620 and I margined out.
Lesson there anyone?
Thanks Ads for the stop loss reminder.
Despite my investment of many hundreds of hours at seminars, reading books, studying videos and sat trading I need to remember I'm a relative newbie.
I have posted the stats above as a stark reminder that I am only ever one trade away from wiping out. From tomorrow every trade I make has a stop loss. GOLDEN RULE.
I still believe my original target of 10 points a day at £50 is easily achievablem however I need a big account to trade at that level. Therefore I'm trading tomorrow at £5 a point to prove I can do it. My target is to close the day with £50 more in my account than I began it with.
I have to trade like that every day, raising the stake gradually as I progress. Post regular winning days and I'll achieve my goal, if it takes me a year to build up to that it's time well spent and most defintely worth waiting for.
More tomorrow.
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