Traders Delight

Well the week was very eventful.
Work took me to Chicago and so I was unable to trade Thursday or Friday, however, I still was able to get over 200 pips for the week.

Not a bad week by my standard, but a long way from my goals. I'm going to save them for a while, but before long my numbers will reflect my daily pip total.

My account is still around the $2040 mark and but only because of a couple of mistakes, the 2 mistakes below cost me $70. That may not seem like much but $20 is 1% so that was a 3.5% worth of mistakes, and on an account with $200K that would be equal to a $7000 mistake!!

1. I accidentally entered the wrong currency pair for a trade. This pair had a very large broker spread of 8 pips and I had to close it for a loss, as I had no reason to be in that trade.
2. I had another trade on Monday that I was going to enter for just 50 cents per pip, ( my standard entry right now does not exceed $2, because of proper risk management), however, I fat fingered the entry and entered for $5 per pip. I was down almost 15 pips when I noticed the error. I am proud to say that I closed the trade immediately because that was a risk I was not willing to take. The trade turned around and paid out very well, and I was glad to sit on the sideline and watch it do just that.

So those two losses equaled over around $70 and yet my account was still up for the week. Concidering travel, hotels, and a lack of sleep. Not too bad a week.