So then where are we at with trading....... I'm losing a little bit for starters.

I have seen that when I trade I can be a little over excited about getting into a trade, I see the set up but don't wait for conformation and get in too early. i think this would be an easy fix over the next few weeks as i gain a bit more experience. Oddly this seems to be different to a lot of people who hesitate and miss a good entry, which one will affect your net profit harder i guess we will find out later on in my career.

Also a valuable lesson I learnt which didn't cost me too much but might if you are going to start trading larger size than I do, is to learn how to use your trading platform whichever one you choose. learn the bloody basics first. I'm not sure what the outcome the trade i balls up would have been as i stopped watching it after i sold it by mistake I didn't want to see it go nicely in my favour without me.

Other than the usual trading rules of have a plan etc etc etc. I have an extra rule for myself.... Because I am in full time employment it means sometimes I don't get home from work until after market open. I traded one day under these such conditions and it was a mad rush to get everything in place to start trading and I took a trade without doing my full Due Diligence and it was a wrong trade (see NYMX). Because of this if I am not at my desk a minimum of 45 minutes before market open I don't trade for the whole day.....Today was one of those days. I gave myself the afternoon off and went to have a beer by the river.

I so far have always respected my stop and so far believe I have made the right decisions as to where they go.

 

Just a side observation if I add back the cost of my trades I would be up $8 in the green so really I am not that bothered about being down a little bit after a few days.

To your Success.