This week was a horrible trading week for me.  All I can remember is red after red after red every day. And as I tallied up my weekly totals, I realized that I basically lost everything I made last month in a single week which set of a red flag for me.  I thought to myself, obviously I messed up somewhere, therefore I woke up early this morning and decided  to analyze my trading journal to see if I can find any mistakes that I may have made. As I looked through my notes, I realized that I didn't really make many mistakes at all. There was one loss that I had where I didn't set a stop for because I had too many orders placed. That's one place where I took a bigger loss then I wanted too, but other than that I couldn't find anything. If anything I think I was just involved in too many trades at the same time and the majority of them just happened to go south on me.  However, I can't really regret that because I don't have a rule about  my involvement in the market and being the aggressive trader I am, I have to tell myself that the shoe could have easily been on the other foot and I could have made a killing. And do I really want to pass up that kind of opportunity because I fear losing?

Something that I decided to do, and I think I mentioned this in my self evaluation post, is that I want to take a picture of each trade set up that I enter . That way I can go back and learn from what I did at the end of the week or month.  This will help me not only recognize mistakes if I make any, but also allow me to get familiar with different set ups that may be more profitable than others. Who knows if it will benefit me or not. I figure it can't hurt, and it won't be a waste of time to do so.

Enjoy your Saturday!

6/4/2011

Learning from a bad week with no fear. Enjoy your Saturday brother.

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