And I Dont ****ing Believe It- I Just Sold A Low.
Well, maybe not. It could go lower than 50 and the point is the trade was a loser, which I cut when I found my balls. I didn't sit around hoping, I guess that is the main thing.
Expensive lessons here. I'm going to find out if I have a future in trading somewhere within the next £240. Given the Dow margin requirement of 100, that gives me 140 pips to play with. Perhaps the Dax or FTSE would be more appropriate to recover my losses.
Quick straw poll: how long did it take each of you to become profitable? Am I going through a natural learning process, or am I just not suited to trading? Opinions welcome.
Should I set myself a target of making +10 pips a day from the FTSE or Dax and forget high volatility markets like the Dow?
The Dow has fallen over 160 pips today, and I've managed to make another loss.
Taking tomorrow, Saturday, Sunday, and maybe even Monday off. Most likely just paper trading from Tuesday onwards.
This is beginning to properly hurt. I've only lost £260 of my initial £500, but it seems like much more. I am now caught up with feelings of failure, combined with the omnipresent fear that I can never be successful in this line of work.
I'm waffling now, and this doesn't have much to do with the Dow. I also suspect that nothing above will surprise the vast majority of you.