This month:
Starting balance £300
Closing balance £1906
Well, that's another decent month under my belt.
139 trades
132 Winners
7 Losers (3 today!).
I've lost my nerve so have finished for the month. I traded awfully today. My RSI alert bleeped on my phone to alert me that the 5 minute candles were overbought. I ignored it, saw the index fall 100 points then shorted 3 times, each time from a lower level and each time I didn't have the courage to stick with it.
Immediately they went against me I closed them all (within two minutes) for the cumulative loss of 35 points. Had I kept them open for just 5 minutes they would all have made money.
It's interesting that I have recognised my feelings and have called a halt to the month a day early. Previously I would have traded on due to the volatility in the market but I've achieved everything I want this month so why jeopardise anything? Exactly.
When the mood strikes I shall trade again. In the meantime I must relax.
The Future
I have a short, medium and long term goal
Short term
Post consecutive winning months.
Medium Term
Add a £1 per trade per month i.e. £3 a trade for January, £4 a trade for February and so on.
Long term
Leave the funds build in my account to support the higher stake and progress to the point where I earn £10'000 month from my trading.
Ultimately I would love to host a regular seminar (where I can show my trading record from my platform to substantiate my profits) and prove to spread betters that it's possible, despite all the doubters to achieve success at any age coming into this game. I'd like to share my painful learning experiences to help others avoid the costly mistakes I made.
That's what I'd love to do. That's my target.
Good luck with your trading.
.
Hi my friend,
ReplyDeleteI was one of the very first to comment on your posts a couple of years ago (after you had a horror weekend, where you held the Dow?). What a huge turnaround. Really good to see. I too have been trying for years to gain the magic of consistency. Trying short term and long term trades (the latter although advised, I really struggle to trade with and much better with smaller time frames). I really hope i can emulate your turn around as it can be soul destroying when you think you are finally making progress, only for another let down approach. Congratulations.