Za7 Blog

I have a blog where I discuss my Forex Trading, I call it Forex Currency Tips.  I wrote about a bad trade I did and the mistakes and reasons for them.  Its something I like to do when I feel I have made a mistake.  I try to write, because it helps complete the thoughts swirling around in my head into coherent sentences and relevant communication.  As a result, I feel more focused afterwards.

For this situation, I made a bad trade and stayed up all night watching it to find the best time to exit it.  I list all the mistakes and what happened for me, but also for readers who are learning to trade too and hopefully will find it useful in their own practices.  I like to learn from stories about other people and their experiences.

But the most important thing about this post is the last part.  There I talk about what I did after I had failed and felt pretty miserable about it.  I went back to my plan.  I went back to what was working and looked for more opportunities.  I was a little worried about making more mistakes and losses, but ALL of my recent trades were profit and there was no reason why I could not just keep continuing that.  Sure I fell down just now, but I got up and got back into it.  I took 3 more trades today and made about $70.  That is really good because my account only had $900.  That’s a 7.7% ROI, or return on investment.  That is really good for one day.  Think about the 4.0% interest you get at the bank total for 365 days,  I just made 7.7% in ONE day.   So what you really need to think about after a loss, is how to straighten things out and keep on going.  Keep doing what you know you need to and your success will follow.

This entry was posted on Friday, November 30th, 2007 at 10:26 am and is filed under Relevant Matters. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.