no progress today either

I didn’t even manage to start today with the right frame of mind. How can I nip this in the bud? I haven’t had a good day of trading since Monday last week! This just can’t continue if I am to derive an income from Forex!

I didn’t make a loss today – I started at 8.59am and finished for the day at 9.34am on +2 pips overall, but my actions could have yielded far, far worse.

My first trade, to cut a long story short, was equivalent to last Wednesdays trading, all the rules were broken, I was in this trade from 9.01am at 1.6106 to 9.33am when I exited at 1.6106. Also, guess what happened at 9.30am, there was an important announcement, and what was I doing? I was still in the trade. Again, I was extremely lucky to have broken even on this trade, because, at one point, I was -30 pips down on this trade. How is that possible when the stop loss is set at -20 pips, well guess what? I shifted the stop loss down further as well. I am cringing right now, if you read my post from last Wednesday, I spent time putting down what lessons I had learnt on the day etc, etc – I’ve learnt fuck all since.

My second trade wasn’t too bad, but I didn’t get out of the trade when I was first in doubt, which is what GOWID is all about right? GET OUT WHEN IN DOUBT!!!!!!!!!!!!!! But this yielded my +2 pips. Got in at 9.33am and was out at 9.34am. Still way too long really, but nevertheless, I was done for the day after this trade.

I don’t think I mentioned this before, but I picked up these rules that need to be followed, on the internet which were produced by someone called Sid Wyemann at Forex Training Works. There are numerous glowing testimonials about how well previous students have done and more similar stories from other sources. I am aware that there are scam artists out there, but my gut reaction to this course is it’s not. His course was simple and straightforward, but as you have seen so far by my results in these recent posts, putting it all into practice has been a very different story. On occasion I do wonder though, if what I am trying to achieve with Forex is within my reach.

But, chin held high, onwards and upwards to Wednesday!