Last week was a disaster for me. The worst result starting from the project start (-46,17%), however, the week’s start was promising. I successfully closed open SELL order on EUR/AUD with $6,16 profit, which gave me the increase of 26,97% – not a bad result, don’t you think? Successful buy EUR/USD followed, bringing me $1,30. As a result, only 50c divided me from the 5th level of $32 (according to my trading plan). And I got caught by the enormous desire to have these 50c to step level up, to reach $32. Unfortunately, as you might know, you can only loose fast on trade market.
Fails started to come from Wednesday (7 Nov): firstly, I was wrong about buying EUR/USD, then I sold GBP/USD. The final crash happened on Friday. In the morning, the balance on my account was $26,02. All positions were closed and the week was positive rated. Ignoring the fact, the week was full of false breakouts and conflicting signals, I took the worst decision to gain back the lost profit by increasing trading lot in two – from 0.05 to 0.10. The decision led to loss of $4,70 on EUR/USD in 2 hours. After that, I saw double peak on GOLD H1 graphic and opened SELL deal breaking margin rules. My deposit was too little for making right S/L and wasn’t reliable enough, I was taking extra risk resulting -$7,60 and week loss of -46,17%. What annoys me the most, that GOLD went to my chosen direction afterward.
So, to sum up, I’ve broke at once 2 rules of my trading strategy:
Rule N 6. Don’t trade everyday
Rule N 7. The Market is much stronger then you think
You can find more details on Intomillion performance and Reports, where on the page lower side I periodically publish Detailed Statement.
The good thing, I was able to handle my emotions, otherwise, the things might come out very dramatic. Desire to overtake the market was stronger than the voice of reason. I knew that the Market was contradicted.
While analyzing the mistakes I’ve made, I took the decision to re-view my trading plan. Re-view of short-term goals. One can do no more than one can. I still have plenty of time – 19 full quarters. I’ve already reached 4th level and I am 9 month (3 quarters) ahead of the trading plan.
To double my funds every 3 months, it’s more than enough to make 6-8% in a week, not 15-20% as I used to do. At the moment – it’s a little more the $1 in a week. The power of compound interest will do the rest.
I want to thank all my fans for support. Every time you open Intomillion website you support me and the project. Don’t forget to follow Facebook and Twitter pages to know how the project is progressing and check trading signals. I need your support!
In addition, just to let you know – Intomillion Fund was not affected in the week’s time. Finishing this letter with Marcus Aurelius quote: “The problem with not taking a risk – we risk 100 times more”.