ForexSpirit

I received the Richard McCall CDs yesterday that I had ordered from Trade2Win last week.  I watched the Mastery Matrix disc yesterday afternoon.

It was a good reminder of some sound trading advice.  The two most useful reminders were that I need to track my trading statistics (win/loss ratio, average win to average loss, etc.), as well as the importance of keeping a journal, i.e. its effect on keeping the trader honest in their results.

My main loss this month, along with the three lot trade I opened soon afterwards, sticks in my mind.  It carries all the hallmarks of a trade made in hope of recovering the proceeding loss.

Was I looking to win back straight away that which I had just lost?  Or was it a case of regretting that I had closed out those trades, when there was still a good chance that the market would come back in my favour?

If I’m truthful with myself, probably both reasons are true.

The loss and trade in question are in the middle of the above chart at the bottom of the dip.

I have to remember that each trade is its own universe, with its own independence.  I mustn’t let my losses influence what my next trade is going to be.