Wednesday, June 6, 2018

Learning & Exploring on managing losses

Did not manage to recover from last month losses, but just have to lift up my head and push on. At the same time, finding other opportunities, everyone need to survive after all.

Nevertheless, May started pretty well and due to personal circumstances, a withdrawal of $500 was made on the 3rd day of May. No big deal. However, as I commit myself to other opportunity, I had reduced screen time and hence I turned to longer term trading. Nothing had change seriously, it just that I may not have the luxury of time to myself and stay in front of the monitor and take a trade. Now I take the trade when the opportunity come and I would have to set the Stop Loss and leave it running and monitor the trade while on the move. In fact, starting from the second week of May, most if not all the trades taken were done this way.


Above show the result for the month of May, a profit of $162.22, which was quite a good result though it could have been much better. I had runners on a few occasion on the sell side and made quite a killing. However as the direction change, I did manage my stop loss but after being stopped out, I would again find opportunity to sell again. That! Gave back my profit to the market. Realising the mistake and rush-ness in my trade, I either had to set a wider stop loss or be patience for the retracement to reach a resistance level before selling again.

I will have to constantly stay on the sane side and keep a watchful mind to not fall into the trap of doing a trade ahead of time. Patience is still the key!

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