So I took a major hit during the Thursday session – entirely my fault and deserved.
As you can see from the message in the group I’m in – I don’t hide the information. It’s just easier and faster to post there than to get home – find my laptop – screenshot or transfer and then post.
But you saw the -$53 in the original picture – how is this one more? Because I got into revenge trading right after. Here’s what happened.
- I had multiple out of town trips to do (Western parishes – limited signal)..
- Decided to force and do entries on my phone without proper analysis on desktop (against my rules).
- Yes I marked up the charts on the phone, but I can’t see the full picture there.
- There are no QT zones on the phone.
- I’d have to manually mark in other areas.
- MTF (multi-timeframe) analysis is harder on the phone.
- Was on the road driving at the time – got to laptop thereafter and started doing LOTS of stuff I shouldn’t have.
- Open positions running and I was doing remote support plus watching shows to catch up.
- By the time I looked back on the chart – BOOM. The drop.
All of these things compounded to the massive loss I suffered. Let me show on the desktop.
So here’s the H1 above. You can see that price moved down – bounced off the zone and MA – then went above where I was. The account is too small to handle that, but I broke too many of my rules to go in there.
On the M1 – the setup wasn’t even correct. Price was below the MA and below RSI. These are things that would have been missed on the phone.
And lastly above – the revenge trades. Yes – they were in better positions – but these were taken from my phone once more. So I’ve taken some drastic measures since.
Primarily – I’ve removed the trading platforms from my phone. This will eliminate the temptation to look at any charts and do anything at all unless I actually have the time. If I can’t spend 2-3 hours dedicated to the charts, I won’t be trading at all. This really comes back to one of my earlier posts.
Just because you CAN trade from the phone – doesn’t mean you should. I can, but even when I did it – I didn’t have time to do proper analysis. ALL of the stuff with the mistakes I made could be seen from the phone, but I was forcing things.
This will likely result in less trades, and especially when work causes me to be on the road multiple days back-to-back, I may not get any trading in…but it’s better to not trade than to do stupidness.
On another note – the person in the group mentioned “order flow” to add to my arsenal. I’ll probably look into it if I’m not able to repeat what was done before. Let me post that and give context.
Multiple deposits and withdrawals done during testing phases. Accidental deposits and all that. Tried to copy others and tried automated systems (EAs).
I started trading the account myself in August messed up some stuff while testing – then decided to get serious on the 27th after losses the same day. There were no more deposits until the withdrawal was done.
The stats are there and it shows what took place. Yes they look messed up, but that’s because I didn’t reset anything – change any accounts – and I’ve been transparent about all that took place.
I’ve done this twice now since I’ve been trading – but my lack of time has always made me fall back into looking for others to do it for me, or to find some way to automate. I’ve taken it fully myself since.
The final deposit done on the account is on November 19th – then I had this blow up on December 4th. No need to deposit back $10 because I closed things out before it got too bad. Would have blown the account otherwise – not enough balance to hold until it came back.
So let’s see what happens with this “new” approach. No more phone trading at all. Ever. If I can stick to that – since the phone is convenient for some things – but let’s get the discipline in there.
I want to show that it can be done – the first time wasn’t a fluke – the second time I did it and have public stats to prove – and the third time I do it will be my last public display to show everyone – it can be done – it can still be done – and if you make the effort to learn – the possibilities are endless.
Apologies for taking so long to get things posted, but I have to sleep – and my day job takes priority right now since it pays for everything. Regardless of what I do or what I make – once this journey is done – nothing more on the blog. Anyone visiting would have all the information and details they’d need in order to get things done.
One final thing – don’t look for me on Telegram for those who recognize the platform. There’s LOTS of persons who go by 876Forex or similar handles. You likely won’t find me – and I’d like to keep it that way. All the resources are online. I hardly have time for much else. No I won’t trade for you. No I won’t do any teaching. If you have questions, I’ll try to answer them when I have time.
Stick to your rules. May the pips be with you.
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