Friday was a weird day. There moments of great trading, and moments of...not so great trading. Well the trading was sound, the decisions made emotionally were not.
The Good - I added to a trade. I stopped myself out of a trade before the market did, this saving points. I took trades despite being down for the day and having some hesitation. I got back to within 7 points of my opening balance, and decided that was as good as break even (having been 30+ points down) and that 'chasing' those 7 points would not be good trading.
The not so Good - I didn't follow my strategy. I semi-fomo'd into a trade, which I then added too and moved both stops to the 'add' stop level, only to then get stopped out. Had I kept my original stop and set the stop of the add to that, instead of the other way around, it would've shown a nice profit. I tried to stay in a trade and ignore the fact that closing it would end the discomfort and reclaim a great majority of my prior losses, but I couldn't, and closed it on emotion, only to watch it do what? That's right...continue to move in my favour and return all of my losses and additional profit, had I just stayed in and used my rule to stay in.
But, it was another profitable week and I again have a lot to learn from in particular, Friday, which has now become the inspiration for my latest blog post.
*Also this week I broke the 'barrier' of £600 albeit briefly, and this was cause for me at least, for a small celebration. I had come close a few times before and then failed, sometimes miserably, and I think as a result I had put up some sort of physically invisible, but psychologically evident barrier. It had a mystic about it which seemed to repel my attempts to break it. But I acknowledged this, I broke it, I talked through the why this may have been, and I will do my best to make sure that this doesn't happen again, with any new level of balance my account shows.*
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