My total for the week in forex is +2.68%, and 0% in stocks. This week was a learning experience, and I’m looking forward to applying what I have learned on Monday.
Today was -2.25%, and it’s needless to day that there were a few mistakes made. The biggest mistake was that I should have stopped trading after London hours (would have closed the day +1.63%). The 2nd mistake was that I should have stopped trading after my 1st normal hours trade (would have closed the day -1.10%). Today also reminded me that I like to take it easy on Fridays, or not trade at all.
I also looked to see what would happen if I trade max leverage on every trade. During the past 3 days (4-1-09 to 4-3-09) I did +.83% adjusting my sizing, but trading max leverage would have been -15.72%. I stopped at 3 days because going farther would have been useless. This data reinforced why I adjust my sizing from trade to trade.
For my Friday post I have an example of what happens when you don’t trade with stoplosses:
No trading video today, didn't have the time for it.
Totals for the day
Forex: (-2.25%) Real Trading
All times on the charts are Mountain Standard Time
13 trades, 8 losses, and 5 gains