Well, have blown through the first little R4000 account and am now munching through the second. My second big lesson came courtesy of Anglo. As with my first DAX lesson, things where going well and then I got greedy. Here I went 500 short and kept it over night – next morning it blew past my stop taking half my account with it.
Now, had I stopped an hour or so earlier I would have been up a couple of hundred and the week would have been a success instead of the incredible failure it turned out to be. It all comes down to greed and loosing respect for how quickly things can change on the market.
One profit is being made, the tendency is to double up and make more – because it’s easy right? What I really need to do is stop or start using very close stops and/or smaller sizes to PROTECT, PROTECT, PROTECT.
I am really going to have to start showing some real discipline if I am going to make a career/ living out of this. Need to get professional. This is not a visit to the casino.
I need to start really thinking about my trades, take my time and start using what I have learn’t. It would help if I gave my self some time so should really be initiating trades on the 1hr – and only well reasoned carefully selected trades.
Once I get the account up to R2000 – and it’s sitting on R1300 at the moment will I put another R3000 in.
Time to start testing some basic systems – I have been very aimless, with using a vague signal or two coupled with gut instinct. Many has had a string of loosing trades with then one high risk trade bringing it back – but as shown, when the high risk goes the other way it slaughters me.
mytinyurbanfarm 