Today I didn't trade well and had two big losses but because I closed it before going in play I didn't suffer such an enormous loss that I couldn't recover. I ended the day almost exactly even, it was a shame I couldn't turn a profit.
I think I'm generally on the right track because I think I now have the right discipline to now improve my trading ability. My biggest floor is in the way I approach swing markets. These are the ones that I'm losing big on. Scalp markets are fine and you can't really go wrong but I'm not cutting the losses. Wstching Peter Webb's videos there needs to be a judgement as to whether there is going to be a bounce and whether cutting losses is required or not. This is a "feel" thing that I haven't quite mastered although I now have a few pointers that I can now consider to judge the bounceability based on weight of money matched and unmatched.
Today's p&l: -£0.02
Subscribe to:
Post Comments (Atom)
About Me
- firedave
- Hello! I'm David and have embarked on a new plan to trade for a living - I like a challenge! Since graduating in 2004, I've been working as an IT Consultant and am now hoping to put those skills into use and develop my trading capabilities. Looking forward to the journey...
1 comments:
I think you're doing fantastically well if you can scalp consistently, never mind "swing". I can get a couple sometimes, but usually, the market stubbornly refuses to go in the one tick before rocketing away in th other direction for a close out of usually about -10 ticks, before I'vt ime to hit the button. Incidentally I'm impressed by your honesty, P
Post a Comment