Sunday, June 29, 2008

Update..

Haven't posted lately, all graphs seem the same, breakout, buy, after a while sell, etc. so I didn't want to bore everyone out, or myself for all I care.

I see a pattern because I write a detailed journal of my every day trades, it seems that I keep having a few small up days, and then a big one or two down days, which sux, so I have to limit those down days.

I was breaking even 3 weeks ago, since my initial R was 20$, and then I higher it to 30$, and lost few days one after the other with the new and higher R, last week my R was 35$, and I made about 3R or something, since I didn't trade all week, this week my R will be 40$, I'm getting used to the higher risk reward slowly but surely, when I'll have R= 70$ I will need to re-finance my account, since it won't be able to support the high R.

right now I guess its more of a practice, because I really don't make much money, and I just want to see that it is consistent enough for me to re-finance the account, the first milestone is still R = 100$, I'll get there in a few months time, but I'm confident that it will be ok, as things go now, it seems that I'm getting used to trading, and it starting to become a part of me.

A month ago I was still trading with a chatroom, which has many good people in it, and even better calls of stocks, but I realized that it wasn't for me, their talking affects my trading, why? because when I'm long in some stock, and someone tries to scalp the same stock for short, I hesitate in my mind against my own trade, and sell it, only to see that it keep on going my way (long), and also, some why I have too many "available trades" there, so I take a lot of them, and overtrade.

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