Net Growth of £49K from £15K the month before.
However I had done and did a number of things wrong:
- Traded large but did not have sufficiently sized target sale orders eg. Sold only 11000 of 100,000 - Liberty on target
- Traded Large but did not have low enough concervative sell orders
- Was aware a news event BoE on QE was due on Thursday was also considering Cable a tired bull. Yet went away from workstation on news and took £10K Currency hit and £7K Gold hit (was expecting Gold to have a downleg first). This was unforgiveable although tired.
Remedies:
- When major A/C equity run ups occur reduce exposure substantially and lock in
- Minimum profit takes is 75% on BO's range should be 75 - 90% on imperfect patterns 100%
- Don't raise trading on all instruments in size, because your Break Outs are Big or just gone profitable. Realise all gains before reviewing trading size.
- BO profits are taken off the table extremely quickly always!
- Take and land initial profits, you may always re-entre smaller (5-10% with deeper stops) post break out for the extended trend
- Remember this is your (and family) future and its time to get serious
- Get proper handheld set up and use alerts.
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