Two Steps Back

Posted by Deb | Day Trading Journey | Friday 15 April 2011 10:38 am

I lost again today.

I waited too long to get into a long position. The indicators were all showing the market is on its way up (though only for a few pips), and I hesitated because it was not moving. Finally I did enter, in the end of the way up. I wanted to gain a bit more so I added a second contract.

The first contract was exited as expected with a $37.5 profit, but then the market turned back. When I finally quit I lost $100. I wanted to try one more time, and again lost $25.

Now I have to go back to my first milestone:) I feel I am losing my patience. I hope not to do more mistakes because of it. It seemed I stopped being cautious. I have to keep remembering how small my account is, and trade accordingly.

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