Trading software

Sunday, September 12, 2010

Bad day - and it's my own fault

The Challenge: to increase my trading bank by 5% per month.

The story so far...

Starting bank: €1,000 (beginning of May 2010)
Target for end September: €1,276.28
Today’s opening bank: €1,526.99
Today’s closing bank: €1,445.14
Today's profit/loss: -€81.85
Today's turnover: €18,452.07


Lost €81.85 today (and a fiver on the football which is separate) and I'm a bit pissed off with myself as it should have been avoided. On one race, I kept thinking the price would go my way and opened up more than one position. I knew deep down I should have just waited and let the bet hit the stop loss (or else let it it my counter trade) but I went back for more and it ended up costing me 78.47 when the price kept going against me.

Again, this is one of those discipline issues I need to work on - if I had of let it hit the stop loss and move on, I would have only lost a tenner.

Still ahead of my target but I can't say I'm not disappointed with myself. On a side note, a book I ordered, 'The Psychology of trading' has arrived so I'm looking forward to seeing if I get anything out of that.

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