I'm now at breakeven with a £5000 trading pot, palpable relief.
Trading involves so much psychology, I love it and it helps that I've always held a fascination for the subject. I use support and resistance for entry points but I also apportion sentiment to my decisions, not mine but the media's.
I'm also learning from previous mistakes, I know what I can live with and what frustrates me too. For example I was in a losing position that came back to break even recently. I let it run as I thought momentum would reward me with a profit at which point it reversed horribly. I now know that when the opportunity to close out at breakeven presents itself again to me I will take it AND I know my reasoning behind that decision.
I can live with the loss of potential profit more than I can if I spurn the breakeven opportunity and it goes horribly wrong. It feels wretched to go to bed a couple of grand down when I could sleep soundly at breakeven so that's my modus operandi. It worked well today and I shall sleep beautifully.
I'm in a perfect position to trade my way. I have a £5000 trading pot that I don't need to draw from and I am going to trade only when the price hits my entry level otherwise it will be a blank day. Profit will be drawn daily defined as any amount over £5000.
Bring it on.
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