Well Monday I'm off and running in the opposite direction. Took 2 losses today, hard to take. But I am very conscience of risk management and didn't allow myself to loose more than what I can emotionally and financially handle.
I won't risk over 5% on any trade, most of the time it is around 3%. Those are losses you can survive. Some trades will increase your account as much as 20% so if I keep the losses down, then the wins will take care of themselves.
On the bright side, I am testing a new trade, and it is going well. On my demo account I traded it 4 times Monday and it paid out every time. Keep in mind, I trade from 2 am to about 7am each day, I still have a job that I really enjoy. I am able to set alarms that tell me when a trade is about to happen so I can still get my sleep. These trades paid a total of 112 pips. Remember my goal is only 50 pips a day. So I am on the right track. ( I know I should have traded these live and traded the losers on the demo..... Oh well.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment