Coved USD/CAD short again, price 1.1047, time 19:14 US Central Time, still feel uncomfortable with it. Will keep away from Forex for a while . On the other hand feel much better with the mini-silver position, if keep going down tomorrow morning, will short another lot.
yes, if I keep the CAD position I am overtrading. But now I hold only a mini-silver short and I feel much better.
i dont understand how u can give out advice like this when u full aware all newbs that have a go at futs usually blow in no time; maybe statistics and odds have no significance for u, gawd knows, but the guy, havin' such a tiny acct shud be only swing tradin' stocks and not trade outrageously competitive and leveraged stuff where any loss can get outta control very easly.
We don't know his style or trade expectations. So saying he is overtrading is nonsense. Overtrading happens when emotion, instead of a plan, dictates the trade. I trade YM (and ER2) daily. If I enter YM with expectation and plan to capture say 30pt and expectation is met, is it overtrading if I take another same side opp 10m later, even at a slightly worse price than original position close? I say no. I am trading according to plan. Purists would say my system is flawed and I am overtrading. Good luck to you poohbear. Osorico