Thursday 26 February 2009

One Small Mistake

I had a reasonable day trading, except for one mistake I made that I should have noticed at the time.

I believe I either closed my position at the same time as my stop loss triggered, or clicked twice instead of just the once. This wouldn’t normally be a problem but I actually didn’t notice until the race was in-play. By that time my net position was a deficit of just under £9.00 so I closed for this.

Now I’ve had this happen before, once or twice, so I decided to remove the possibility of it being the stop loss and traded the rest of the day without it. This requires significantly higher discipline but I actually didn’t find it a problem, felt quite comfortable trading this way and will now continue to do so.

Anyway, despite this setback, I ended the day £4.63 down which, under the circumstances, I don’t believe was too disastrous.


By removing the stop loss I think I’ve taken a small step forward in my trading and, perhaps, focussed my mind a little more.

Cheers


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