Another week down, and I am down, financially and a little bit mentally. Well I was, but that has gotten better. Monday didn't go well, in fact in my Trade Diary I wrote, "Again closed manually. I need to stop trading and take a break." but the problem was, I didn't. It was Martin Luther King day and so the US was closed which meant the DAX was in a trading range. However, I allowed myself to be influenced by a statement made from another trader, and as such I didn't observe my strategy.
Tuesday my focus was not there and Monday was still in my mind when it shouldn't be. As such I popped to the shop shortly after the markets opened and I had another losing trade, and missed a solid 20+ points.
Also first time ever, I went to the gym with a trade still open and subsequently this was also a loser.
Wednesdays child was full of fear, so traded poorly again. Closing trades when they came back to my entry point, only to open another one at a similar level? Tough morning.
Thursday showed improvement although still traded with fear. Closed a 20 point trade on a double bottom, only to watch it break shortly after and I could've had a 40 point trade if only I had dropped down to the 1 minute chart instead of closing.
Friday, finally! I traded like a trader (ish). My first position moved against me and stopped me out and I almost immediately realised I needed to be short, so 'Flipped the Switch' and took a short position which covered my loss and returned a profit. Took another position and closed as a scalp as I was conscious of 'giving back' and I also have not had a positive Friday for quite some time. Emotion and fear again. But, I finished 23 points to the good so a positive end to the week, and lots to work on this weekend. Mentally.
Comments