Saturday, August 4, 2007

Bad week.

I'm not sure why is it that every time after I have a great week, I just blow it out the next, but I think it has something to do with "overconfidence", which is a bad state to be at.
This week I had been trading, thinking "my method is working, I don't have to stop with my stop loss limit of a day", at least I traded only 1 contract which made me lose less money than in my really bad days, but still, I should really stop trading after losing 1.5% of my equity, because after that each trade seem reasonable, even if it's 2 minute scalp of just 3 points, which makes you pay a lot of commission.

I know how to have good days of winnings, but what I need to control of is the losing days, not letting them effect my equity curve, and now they are just making it freefall everytime they happen, and if this keeps on, I'll be going bankrupt in a matter of weeks, this is how bad it has been, and now is the time to change.

I will have a losing days, everybody does, but that fact of the matter is that I need to make them as small as possible, and let the profitable days run.

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