Taking Small Losses

The story was almost identical for last night, and the night before's trade summary.

On Thursday night, I had taken small losses (with a -1.50pts during outside trading hours) throughout the trading session, amounting to about a total of -2.75pts. By then, I was pretty frustrated with what was going on, and decided to finish off the night with a good trade setup. The situation presented itself when a counter-trend LONG came along. I took that LONG (at 1171.00, 10:16pm Singapore Time), and was rather happy that it resulted in a +4.00pt gain.

Last night, it happened again. A pre-market trade with a -1.00pt loss and two other trades with a -1.00pt & 0.75pt loss respectively. Unconvinced that PRICE was heading higher, before going down to establish a Higher Low, I promptly took a SHORT (at 11:40pm, Singapore Time) at 1173.00. I was rewarded with a +5.25pt gain.

I am just glad that with my first week back into trading futures, my old bad habits have been kept very much at bay. Removing my STOPs was one of them and I am glad to say that I have not done so, in all my trades, the past week. Impatience is another and to be honest, I think for this battle, I am only 85% there. Some of the small losses were definitely due to this.

In any case, I would certainly call this a good week & as I continue my journey, together with God's favour, I look forward to slowly but surely, build up my confidence and as well as my trading account.

Have a good weekend!