March 15th

Results

Today was stressful, I reached my target early in the morning by shorting the Dow Jones at like 1am. I woke up the following morning and decided to be greedy and make more, big mistake.

Every market has been dropping like crazy across the world not only due to Middle East and North Africa, but now over Japan as well. Japanese Stock Exchange the NIKKEI, is down nearly 20% this week already, it has went back to the price it was at in April last year.

I looked at the DAX30 for the day and bought what I thought was a low point. I got stopped out for a loss, and then an even greater 1 when I retried a few minutes later. This wiped out my profits within 30 or so minutes. To make it back I done a technique called "scalping". This is when you change the chart to a 1 minute time frame, and you literally place a trade and close it within 1-3 minutes, its very fast paced and dangerous to new traders who are not experienced with fast swings.

Its basically like looking at a heart-rate monitor in hospital, the chart is constantly moving up and down where as say on a 15 minute or an hour time frame, it slowly forms the candles over that period. I made 8 winning trades in a row to recover my profits THEN I MADE THE SAME MISTAKE AGAIN AND GOT GREEDY!

I was so angry with myself I stopped trading for that day taking a small loss. Below I will show you 2 charts, the first being the 1 minute chart and you will see all trades marked with an arrow of the direction, and the check sign when I took profit. The signs in white are profit, signs in red are loss.

As you can see from the bottom chart, if I had left my first trade I would have made a great profit and not have to deal with the stress of placing 10 or more trades trying to make it back. That is the nature of the beast I guess.