Trading today felt alot better. The realisation what is going wrong has settled largely and I have come to some important conclusions as to why my trading wasn’t going well. Although today resulted in another -1000 loss, it is not something to cry over.
Why did my trading suddenly turn bad after 2 months of consistently profitable trading?
Only today did I realise the root cause for my problems in trading the past four days. Namely, after receiving my first payout, gaining another 5k in profits, starting this blog and telling some individuals that things have been going well I created a pressure on myself to perform well. This pressure of expectation somehow made me want to get quick wins so I can achieve my goal fast. This chasing of quick wins in turn led me stray from my strategy, which the past 3 days i have not followed at all.
Today I did figure this out and started trading my strategy again. However, my risk parameters were completely wrong and still relied on the bad strategy I developed the past 3 days. Finding out about this however is the most important part. Now i can finally get back into the game. Also ending with another negative P&L has now decreased my balance to a sum that is not so scary anymore. In trading it is important to remain coolheaded and I feel I have now achieved this again. I’m interested what tomorrow will bring.
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