Today marks the darkest day in my trading life. Although I have not lost everything, but it as good as everything. Lack of money management, discipline and extreme eagerness to make a come back was the combination of all factors that lead to a loss of 500usd.
Time to sit back n reflect on myself today. A series of bad mistakes result in this.
BY not setting a stop loss, I let my losses run on me.
I did not set a take profit either constantly removing it even when I did, show the other lack of discipline.
mistakes after mistake. then finally taking loss at the maximum point. I must be out of my mind. I think once i exceed that threshold of trading, I cannot think well. I am thankful for the fact I am still in the green. But I have been taking way too much risk and should and need to lower my level of risk taking.
If i need to do this full time, It is time to start learning things the hard way.
Tuesday, December 2, 2008
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