Saturday, April 25, 2009

Trades for 4-24-09, and weekly total

My total for the week in forex is -14.30%, and +.78% in stocks

I totally forgot to take screenshots and make my Friday post yesterday. Friday’s numbers were sad, I did -8.14% in forex and had no trades in stocks. What happened was I broke my “be cautious on Fridays” rule which caused me to make a couple of losses. Then I went into amateur mode making things worse by “I can make it back” thoughts.

I don’t have anything for the Friday post, so I’ll just give you what I’ve learned this week. I learned that I need to be able to adjust more too changing conditions, and I’m too strict with my rules. I need to view my rules more like guidelines instead so I am able to adjust my trading when needed. I’d have to say that it is my #1 weakness in trading, but at least I know what it is and can address it.

My other weakness (which is a close #2) is I’m way too hard on myself which in turn hurts my trading confidence after awhile. I’ll be doing good for a few weeks, then have like two .50% losses in a row. When that happens I get too hard on myself which makes my confidence go down. Then I start to miss gains which pushes my confidence lower, and then I pull bonehead moves like I did Friday.

Totals for the day
Forex: (-8.14%) Real Trades

5 trades, all were losses

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