I really do not wish to violate my rule again at least not for a few month down the road from now. Anyway just talking is useless.
I actually had quite a big amount in my account I think I can trade up to 8 - 10 contract at any 1 time now of course if I trade the maximum I would hit margin call anytime.
The problem is that if I had not enough money in my account I had difficultly trading at all. That why I decide to fund my account with sufficient money before I trade this round.
Been thinking yesterday night. I can do 2 things.
1) Make thing right and follow my system all over again from today. Forget about the losses and me breaking the rule. Start afresh.
2) Try to make back my losses yesterday. (Market is somehow overbought coming down soon my gut feel is telling me, this is the time I can make back my losses)
Option 2 is very tempting. But what happen if I losses again my hole become bigger. I know I shouldn't even be thinking of option 2 at all.
Anyway I decided to take option 1.
chinook
Benysl,
Don't worry, you'll again violate your rules, very soon. You'll always think that today is the exception. You'll say to yourself I'll violate my rules one more time--After today, I'll never violate them. This will go on for a while until you lose all of your capital after you increase your position size to your margin max following a losing trade and holding overnight. You won't be able to sleep that well that night. Next morning, when you look at the pre-open charts, you won't believe the gap that went against your position. You'll feel your stomach burning and you want to go and throw up. When the markets start regular trading hours, your broker will close your position and you'll have zero maybe even negative account balance.
I actually had quite a big amount in my account I think I can trade up to 8 - 10 contract at any 1 time now of course if I trade the maximum I would hit margin call anytime.
The problem is that if I had not enough money in my account I had difficultly trading at all. That why I decide to fund my account with sufficient money before I trade this round.
Been thinking yesterday night. I can do 2 things.
1) Make thing right and follow my system all over again from today. Forget about the losses and me breaking the rule. Start afresh.
2) Try to make back my losses yesterday. (Market is somehow overbought coming down soon my gut feel is telling me, this is the time I can make back my losses)
Option 2 is very tempting. But what happen if I losses again my hole become bigger. I know I shouldn't even be thinking of option 2 at all.
Anyway I decided to take option 1.
chinook
Benysl,
Don't worry, you'll again violate your rules, very soon. You'll always think that today is the exception. You'll say to yourself I'll violate my rules one more time--After today, I'll never violate them. This will go on for a while until you lose all of your capital after you increase your position size to your margin max following a losing trade and holding overnight. You won't be able to sleep that well that night. Next morning, when you look at the pre-open charts, you won't believe the gap that went against your position. You'll feel your stomach burning and you want to go and throw up. When the markets start regular trading hours, your broker will close your position and you'll have zero maybe even negative account balance.