Sunday 21 April
After being down almost 22% at one point, I am sort of relieved that I am only down -1% for the week i.e. essentially flat for the week. An updated worksheet is attached.
Now for a post-mortem of this week’s trading:
The markets were nervous this week after the sharp drops in gold and silver together with the Boston bombings. I was probably watching the markets too much, making me impatient to get into trades. I made one mistake with a counter-trend scalping trade which cost me almost 7%. Other than that I think I managed pretty well. I should have held my nerve through the wild swings of EURJPY where I entered and exit at precisely the most extreme wrong ends of the hourly candles 😦 But being realistic that sort of thing happens every now and then so I am not going to beat myself up. I’ll try to keep order sizes really small in EJ so I can withstand the swings.
I have been using pretty large order sizes over the past 2 weeks, in an attempt to recover my account as quickly as possible. These large orders make me more nervous when the trade goes against me, which is what makes me get out at almost the exact high/low against my trade. I will make myself more aware of this and deal with it either by using small orders or using a more realistic stop loss, not too tight.
I was hoping the account would be at > $30000 this week, i.e. tripled from the lows. That didn’t happen; that is now a target for this week! Wish me luck! 🙂