200 Days Of Trading: Day 6
So with me being at home for the most of August (pretty rare ATM), I was looking forward to getting back into trading, dusting off some of my skills and generate some nice profit to
So with me being at home for the most of August (pretty rare ATM), I was looking forward to getting back into trading, dusting off some of my skills and generate some nice profit to catch up for all the time lost. How wrong was I?
I’ve had a few sessions over the last week or so with small stakes in order to try and get back into the swing of things, with today being the first proper day of normal stakes relative to where I’m at on this documentation journey. Looking back at the profit and loss, there are endless mistakes that are obvious without even needing to look.
Before we analyse that though, here are the staking amounts I am using relative to the bank (which started at £1k)
Since working with F1, I have been watching the markets quite closely and may look to adding something to my ‘portfolio’ above. That said, I need some more time to analyse how the markets work and it’s important not to get ahead of myself here.
Speaking of which, it’s clear that today I got way ahead of myself and nearly fucked things up royally. Let’s look at the P/L for today and let me know what you spot:
Yep, it doesn’t take a genius to work out where I’ve been going wrong here. Before now, the most trades I had placed in a single session ranged between 2 & 12 (with 12 being relatively high unless trading the horses) yet today I entered 26 markets. Look at the difference between today’s per-trade profit and everything else. One word springs to mind here and that is MORON!
Hold on, it gets worse here. A lot worse.
What is the point of having a staking plan in place if all I am going to do if fucking ignore it? Seriously? Note to self here and don’t be a tool, stick to the plan get your shit together. I’ve been trading far too long to be making stupid mistakes like this.
Thankfully I ended the day in profit, although I shouldn’t have whatsoever. It seems the trading gods were on my side this time but if I carry on like that and we will be seeing this graph take a terrible turn!
Trading is all about looking at the bigger picture. The moment we take our eyes off the ball (has to be a pun in there for sure) and think short-term, we screw things up royally. Play the long game, be vigilant and do whatever it takes to keep discipline in check.
Tomorrow, we trade properly!