Today is Saturday and Forex market was closed for 2 days. The trouble was i have entry position that i not yet closed since yesterday. My trading fund balancce is USD1000 but yesterday i entry market with 2 lot in lose position. The losses showed USD146 before i went sleep last night. The trouble was the market trend was againts my direction and keep "bullist".
This morning at 5.am i cant see the real losses because market was closed. I have to wait untill monday morning at 5.00am to see the real lossess. I predict i will losses about USD300- USD500
Nothing to say. That was the price that i have to pay because of dumb sturborn!. Trading following emotion instead of rule!
I just finish reread book "trade for a living"
The rule said:-
1)Risk only 2% from the total equity and not exceed 6% a month ( i axceeded the 6% limit, trader should stop trade and reeveluate themselve.
2)Always set stop loss first (2% only per trade)
3)Set limit of taking profit before enter the market (and alway put 50% stop limit if market goes my favour for 10pips)
4)Focus on trade right instead of thingking profit)
5) 30% return annuly is a good trader and 100% return annualy is a star!
6)If my equity is raised to 6 figures it can consider as (income generator for living)
7)Decide want to living style at USD30,000 a year or USD300,000 a year
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment