…the knowledge that things can’t really get any worse for you, can they? If this statement were actually true, there’d be a heck of a lot more people like you and me trading for a living. The reality for a trader seems to be that no matter how bad things are; they can always get worse.
Wow, what can I say, after redefining my trading strategy at the end of August and making solemn promises to myself to stick to it, I’ve managed to ignore everything I promised myself I’d do and almost blow up my £500 account. Painful? Check.
I’ve had a couple of bad days lately and have managed to dwindle my account balance even further. At this juncture, it makes absolute perfect sense to take a look back over my August trades (99 completed and 3 open) to see what went wrong. How many did I win, how many did I lose?
Have you ever felt like you were doing well with your trades? Well enough to potentially max yourself out? Did it work out for you? My guess is that it probably didn’t. Despite being aware of this in the back of my head, I’ve gone and fallen into the same trap that many of you will have already experienced in the past.
Have you ever found yourself second guessing when you should close your positions? I had this very same dilemma today with a position I opened yesterday and although I fretted like a girl about it in the beginning, I’ve found a good strategy to help me choose when to close.
I’m sure you’ve had days like these. I’ve lost almost £500 in the last two days and I’m back to my original account deposit of £500. I’ve refined my trading rules and this afternoon I made my first trade in accordance with them. Did I make a good trade by opening a position on W.H Smith?
So it’s been an eventful couple of weeks. I deposited £500 at the end of July into my spreadbetting account with Ig Index and in the space of two weeks, managed to trade and make a profit of £470, only to trade some more and lose all the profits to take me back to my original starting amount (+/- a few quid). I think I’ve learned a little bit, and …Read More
If you thought that yesterday’s losing extravaganza would be enough to make me trade better, youd be completely wrong. Today, I’ve managed to blow all my remaining profits and am literally back to where I started.
Before today, I was sitting on a handsome profit of £520. I’d managed to accumulate this since 1st August and was feeling pretty good. A list of all the trades I made to get there can be found in my twitter account. Today, however, I had a bad that saw me lose almost 50% of my profits.
Here’s my explanation of when and why you should short Ocado if you want to make £100 profit. At least, it’s what I’m going to do make £100 profit on Ocado….