FOREX Account balance $67.84
LOSS 1.4%
In one trading day I managed to wipe out all gains from over 20% to a loss of 1%. I believe I have targeted a time period where my trading plan does not work very well. During the week the markets have conviction but during the off times it’s like watching a world without gravity. There’s no news and prices wander slowly up and down and up and down with no real direction.
So I’m taking it that this now means that my 20% per day plan is going to be extended, how displeasing, I already have to sit out on Friday eves and Saturdays and now we’re going to take Sunday out of the plan and afternoons as well because there are not major markets open until later in the evening after the New York session during the week. I’m not happy!
Yes I am still working on the final step of my first days trading plan and we’re closing out day 6. Unfortunately I have to sleep so trading the European sessions are out of the question.
I was able to make it through the first 4 steps of the plan in under 11 trades per step and gain more than was necessary for the plan and here I am trading step 5 and I have more than 50 trades logged.
I have one hell of a hole to dig myself out of.