Hello Everyone,
Still in the rut right now, not excitingly green right now with binary options. Monday and Tuesday were horrorible, no comments there. As for Today, 4/7 with +$10. I could’ve stopped myself at various other points to stay in the green for a couple more bucks. But decided against it. 3 losses in a day is enough for me to quit no matter when they occur. I think I was more so completely lost for Mon/Tues trades. Today, I felt things were slightly going my way in terms of judgement calls. Just not trading properly. I knew when to trade but then I’d start to doubt myself.
My overall summary from the beginning of BBinary till now is: 21/44 = 47.7% with a -$288 ~ -50% loss.
On a side note, I started playing penny stocks again lol. Bought SPAH yesterday about 172k shares at 0.0014, it’s closed 0.0028 today with a 100% gain. I sold 72k shares @ 0.0029, so I have “almost” free shares left to ride it out. Assuming I do profit from this, this would cover my losses on BBinary. But I shouldn’t be using this an a leverage to cover the other. I gotta pick up my game in binary options!
My friend Mike noted something to me, his goal for this month was to make large amounts of money so that he could quit his day job. That’s unnecessary pressure which hinders your trading judgement. This applies to me this week, if you’ve been following me the past 2 weeks. I’ve been paper trading, quite successfully (which isn’t unusual, seems everyone does good when they paper trade). With that mindset, I thought I’d be going into full swing this week. The goal was to make about 50 successful trades which would’ve put me near $10k in a week, the first week back LOL. Impossible for me evidently, and I end up going in the opposite direction too. Pressure’s gone now that I’ve put myself back into my stocks mentality, I’m no longer expecting to get high profits in a short span of time. So let’s see if I can get back into my groove moving forward.
EUR/USD – 5min Chart (10AM Expiry). Note: This chart is only for today’s trades, the last 2 days I didn’t bother since they were red
As noted in the chart, red lines were drawn after blue lines.. but since I didn’t continue trading afterwards, doesn’t really matter.