Registered: Mar 2012
12-09-12 10:49 PM
Quote from gmst:
Another positive week. 5 out of 5 winning days. Just before the start of previous week, I had 9 consecutive losing days. My account had taken a huge beating and my confidence was shattered. I felt like being in a mess. Now, over the last 2 weeks, I have had 10 consecutive winning days. A record for me. My previous record for a winning streak was 8 days that happened last year. I am feeling much relieved and my confidence is back.
I have made a one page excel sheet with different leverage for different setups. Now, before I take any trade, I look at the number of contracts I should be trading. I always have this sheet open during trading hours - over the last 10 days, this has helped me prevent over-leveraging my account. I hope this practice will prove to be a good risk-control measure going forward as well.
uh-oh now you're screwed.
Large losses are associated with over confidence.
Remember it only takes a 50% drop to put you back where you came from on a 100% gain.