-19 pips = -$9.70

01.22.10

10 Trades

5W -5L

When you've got 3 holes in your boat & your ship is sinking which hole do you plug first?

Answer: The biggest hole

I've been getting stopped out like crazy. So I have two options; Widen my stop ... Not gonna happen because I'd be risking a crazy number of pips compared to my average potential winners. Second, tighten my entries, I'll be paying more attention to the up & down flow of the market getting in on mini pullbacks in direction of the short-term trend.

In the middle of this picture you can see 4 good examples of what I'm talking about. First trade went perfectly and hit my target so fast that I didn't even have time to second guess myself and take profit too quickly. Second trade also went perfectly however this one took time and allowed for my self doubt to creep in and I took profit WAY too early. Third trade was a bad winner because it should have been a perfectly acceptable stop out. Fourth trade again went perfectly but my insecurity led me to take profit too quickly once again.


The second hole I need to plug in my trading is cutting profits too quickly because of fear of loss.

Third hole I need to plug is taking too many trades. Fortunately, by plugging the first two holes this third hole will likely plug itself because the only reason I continue taking trades is because I performed so poorly on previous trades and I want to try again.