Came back after a draining session of discussion with the marketing mates and though it was fun I was quite exhausted by the end and did not stay on to chill over dinner. Headed home and fired up mt4 to place some trades and was rewarded as I managed to bring my net profit up to $27, but all these crashed to pieces over 4 trades and I went back down to $20 net profit, hence bringing my performance to a meager 2% per trading day again.
The trades that caused this draw down was 3 positions on GU that I stubbornly pyramided and ended up closing at a less than optimum loss position. The painful lesson? It eventually rose past and broke resistance, and even if i closed it as of now, I would have at least broke even on the 3 positions. So, this is a $7 lesson. Never second guess or doubt myself. Make a clear call on the possible profit and risk level then entire my trades without emotion.
UPDATE: the GU ended up rising madly and hitting the levels of my TP in less than an hour, I guess I need to learn to spot resistance levels and have faith in my system. so, it ended up being a $12 lesson. Bleah.
Over the course of the next few days, I will work on my trading system again, maybe enter the demo kitchen again if need be to tweak it a bit.
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