Game Over Start Over

Today I tried the same risky play, and it wiped me out. Therefore, the count is now back at 0. 6 more weeks until I can trade.

DAY 0 starts tomorrow.

Demo Trading Day 15 (+18 pips)

Really not sure what to make of today. Strictly speaking it was a horrendous failure. I made bad decisions one after another. Started trading 5 lots instead of 1. At one point my capital was at -$5000. However, I actually was able to make back the money & more and even avoided margin calls. Partially lucky, and partially because the market started oscillating between 60+ pips. This made it extremely easy to pick up pips as long as I bought near the middle.

Last 5 trades essentially brought me back to life. And ended the day +$1900.

I traded a total of 377 lots. At $4.5 each lot, that made for $1700 in commissions.

After an incredible day of ups & downs. I ended up netting only 18 pips.

Very scary. I am contemplating to start the 30 days over, as I am clearly not ready to step into the market.

Demo Trading Day 14 (+10 pips)

The opportunity was good. But I chose the wrong side. Instead of closing, I just kept adding on the Buys. Camilla Trend showed that it was a long term strong buy, so just bought and left it at that.

Trades: -7, +5, +12
Net: +10 pips


Days with good discipline: 13 (Goal is 30 Straight)

Demo Trading Day 13 (+10 pips)

Bad execution today. Be patient and wait for opportunity to strike. Don't jump at trades until it is clear the market is fast but clearly trending.

Also, never trade when Iris is around, or when talking online, or working. Multitasking and forex do not mix.

Trades: +9, -2, +3
Net: +10 pips


Days with good discipline: 12 (Goal is 30 Straight)

Demo Trading Day 12 (+12 pips)

Good execution today. Waited until it passed last resistance, sold & held for quick 12 pip win. Was hesitant to buy on the reverse, could've pushed the daily winnings to 20+ pips easily. Try to develop a sense for consolidation vs. profit taking.

A little busy today, so I won't subject myself to further risk. Leave with just 1 trade.

Trades: +12
Net: +12 pips


Days with good discipline: 11 (Goal is 30 Straight)

Demo Trading Day 11 (-5 pips)

Bad execution today. First trade had potential to be +8, but hesitated to sell, and it went negative. New rule: sell on 2 ticks against me. Honestly, the entire time the market was ranging, and I traded only because I had no patience.

Trades: -6, -9, +6, +3, +1
Net: -5 pips



Days with good discipline: 10 (Goal is 30 Straight)

Demo Trading Day 10 (+11 pips)

Excellent execution today. Wasn't really paying attention and missed 2-3 big moves. I'm talking 30+ pip moves... Then I caught a tiny move and was happy with it. Got out as soon as it turned because I was against the Camilla Trend showing a STRONG BUY. Right after I exited the tide turned so that was the perfect execution :)

Trades: +11
Net: +11 pips


Days with good discipline: 9 (Goal is 30 Straight)

Demo Trading Day 9 (+15 pips)

Great execution today. Especially on the last trade. Let it ride because it was doing well & did not show signs of stoppage. The first trade I was up by 1 pip, before it slid. The second trade was ok, but wasn't going anywhere.

Trades: -4, +3, +16
Net: +15 pips



Days with good discipline: 8 (Goal is 30 Straight)

Demo Trading Day 8 (+13 pips)

Risky trade. Went in at a good time, but it turned against me. At that point I just waited out because I knew the market was in a downwards trend so kept it going even though at one point I was at -26! YIKES!

Trades: +13
Net: +13 pips


Days with good discipline: 7 (Goal is 30 Straight)

Demo Trading Day 7 (-16 pips)

Reasons for loss:
Lack of focus.
Reversed a call.
Short rainbows.

+5, -11, -10

Discipline is OK considering this is my first losing day. Next time, wait until my brain is clear before trading. Otherwise you will die.

First losing day. Feels like shit, but discipline is above all.

Days with good discipline: 6 (Goal is 30 straight)

Demo Trading Day 6 (+12 pips)

Decent excution today. Line passes the threshold and sold. ACCIDENTALLY clicked the SELL button twice again (gotta stop doing that). I was confident enough about my trade that I held on for 6 pips gain before quitting happily having reached 2x my daily target. It's all about self control.

Trades: +6, +6
Net: +12 pips


Days with good discipline: 5 (Goal is 30 straight)

Demo Trading Day 5 (+17 pips)

Great execution today. I am proud of myself. All 4 were positive trades! All went exceptionally well except during the 2nd trade I accidentally double-clicked SELL. Because of this, I quickly got out at +1 pips before it had any chance of turning around and hurting me DOUBLE-TIME. Sadly, this made me lose out on about 10 pips.

Trades: +11, +1, +1, +4
Net: +17 pips



Days with good discipline: 4 (Goal is 30 straight)

Demo Trading Day 4 (+7 pips)

Got a bit greedy in my first 2 trades. Both were positive for a good 20 seconds, but I was reluctant to let them go.

Aside from that, the other trades were decent, although I missed a big move because I turned my head from the computer.

Trades: -2, -2, +4, +3, +1, +3
Net: +7 pips


Days with good discipline: 3 (Goal is 30 straight)

Demo Trading Day 3 (+20 pips)

Good executions today.

Trades: +12, +8
Net: +20 pips


Days with good discipline: 2 (Goal is 30 straight)

Demo Trading Day 2 (+16 pips)

Good executions today.

Trades: +3, -9, +22
Net: +16 pips


Days with good discipline: 1 (Goal is 30 straight)

Demo Trading Day 1

Day 1 was a complete failure. Frankfurt was horrible. I've decided to trade Euro lunch instead, 2a-3a. Discipline fell through the roof when I started losing.

1. Trading scared
2. Trading in volatile times
3. Over-traded
4. Reluctant to dump a bad trade

This is what opportunity looks like:

2:00a - 2:15a


3:35a - 4:00a

Starting fresh

Just got back from meeting LT in Toronto. The biggest take-away is of course the fact that I need discipline. I will now track the number of days that I follow my discipline to the 'T'. Breaking the discipline means I am not ready to trade.

Experimentation is

Also, things to do:
1. Ask if ADMD is FDIC insured
2. Ask if forex taxes need to be reported quarterly