WTH. Broke personal records yesterday. Made $1,325 for the day, $2,745 for the week. Boy was I drunk last night. My head hurts. I can barely believe it’s true. $7,495 since inception, on $3,000 capital. 250% in 1 month and 1 week.
Increasing capital to $6,000 for Monday. Let’s see what I can do with that
Shorted the Australian index. It gapped up a lot because the elections are over, but that doesn’t change the state of their economy, the global trade disruptions and slowing down of global growth. Also a gap fill play hehehe. Cut above the day’s high.
I know I must sound like an old you-know-what. Maybe I am (sadly at only 53 i.e. 54 next month). But watch yourself. Biggest and only mistakes I have made in the last five years with an otherwise great system have been as a result of having loads of capital and as a result and then lulling myself into the false sense that I can do no wrong, increase trade sizes, take chances because I have so much capital, and think I can afford to make a few mistakes because I can recover. Your gains thus far have been stellar. Do not change anything. And obviously bear in mind that your % gains are going to drop when expressing them as a percentage of capital simply because you now have more in your account. Do not chase to get them to be the same as before. That is free but good advice (in my humble and jaded opinion of course).
Saw that gap. Nice. I MAY look at this trade as a double top play (mentioned this somewhere on another thread). Will see. Australia not a big payer for me though. Hogs margin for very little bang for buck. And a short trade so dividends PAYABLE as and when declared.
Thanks for the concern and the advice. I always keep saying, people trade differently. I have found through time that much of the “wisdom” that’s accepted by most people does not apply to my mindset and how I trade. But thank you for the reminders. I have spent over two weeks deciding on whether to increase capital, and by how much, and how to adjust my rules and position sizing. Don’t worry too much about me Dale
I don’t use stop loss orders, just mental stops. Thanks for the reminder.
Positions currently up $140 in total.
Update: Closed some of my FTSE shorts for $53. Open positions currently up $147.
Update: Closed some more of my FTSE shorts. Now at $117 profit. Open positions up $145.
Update: Closed the rest of my FTSE shorts. Now at $200 profit. Open positions up $156. Feeling good today
Update: Closed GBPJPY and a bit of AU200. Now at $280 profit. Open positions up $137.
Closed all for $413 for the day I had targets farther out for all three positions but since it’s my first day trading $6K I figured I’m more than happy with 6.88% for 3 hours of work. Will rest for a few hours and be back for the US session. Happy pipping everyone! And thanks again @dpaterso for the concern and reminders.
Thanks! Hoping Brent goes up today to retest yesterday’s high. I added too much size while it was going down. Should really restrain myself in those situations.
Ended yesterday with $378. Just made $19 now after waking up hehehe. That makes it $1,159 for the week, 19.3% for the week so far. Yesterday was a pretty difficult day for me to make money. Getting some rest today and trading later at the European session.