Tuesday: Beaten and Scarred

Base System: 26W - 3L=29T= 88.5%
Sub System: 10W - 4L = 14T= 71.4%
Summer Camp System: Winner .25 heat

I had a few winners in the a.m. Then I had a few losers and i was even, and then yes, I moved a stop. Not only did I move a stop - but I moved it way far away thinking "the market surely would never come down that far". You know the answer...that's exactly when they market will do that to you. So lesson learned and about 1/2 my account burned out with some really stupid trading.

I am rethinking my 2 point stop. It just may be that most of my winners do not require it and going all the way to 2 points is a mental roadblock for me. I know I need two winners for every loser. I will try and keep a tighter stop. There just is no coming back from what I did today. I get distracted since I cannot watch the screens and sometimes I feel moving a stop will help, but the truth is what it has always been. Know your risk and accept it no matter what, even walk away if need be. You will feel a whole lot better coming back to see if dropped 8 points but your stop was in place. Instead I came home to find my account blown up.

In an effort to stay positive I am going to spend some time tonight looking into my price action signals. I took 2 or 3 trades today with them and was impressed. I also discovered some small variations in them, which allows for more signals. Unlike the main system, there can be no subjectivity. Either the exact pattern is there or it is not.

I talked with a few people today about knowing when to quit. I can see now that even very talented traders can give it all back without having a stop button in place.