What a week. Lessons learned.
Ok, my highest profit was ~16,300, lowest dropped to ~5,000. So now I’m back to ~6,800. Slightly behind my weekly goals of 4,000/week. Should have a balance of 8,300 by now. Had it, and the market went against me hard multiple times, regained my losses back to 12,000 and then lost it again. Recovered up to 6,800. So have I lost anyone? Anyway, the good news is I’ve made enough to remove my initial investment of 2,500, so the 6,800 is all “profit”
So lessons and observations noted?
1) Don’t trade on Sunday evening (when the market opens on EST). Too unpredictable = Losses
2) 2am (EST), the market appears to make some wild swings, not sure what’s happening at 2am, unless that’s when Europe’s main trading starts = Losses
3) Lot sizes > 2 at the current balance is just way to risky (for me). In fact size 2 is too risky if there are large swings. Lot size = 1 is a bit better, but I’m taking alot more risks, but as you can tell, Large Losses too.
4) Once I reach my goal, STOP! My losses have always been after I’ve surpassed my daily goal (1,000/day).
5) Always check the history in 1hr, 4hr, 1day, and 1month to see the bigger picture.
We’ll see how next week goes, currently -1,500 behind my goal.