3rd December

Hi John

I entered two trades after we spoke but my stops were too short and I was spike out. Had they been bigger – 20 instead of the 8 I would have been fine both times.

Apart from the big drop this morning, it’s not been a great day for trading and the two opportunities I picked were after the announcements. I should have known better than to trade in a channel. The candles looked strong and at a breakout. I entered a buy and then it fizzled out as fast. A while later it looked the same again and wham the same scenario. Before my stops were too big now they are too small. I feel like Goldilocks. I wish I’d find the right bed and get into it. So after the second trade I set up the Dealbook charts and was amazed at how much choice there is when you add other indices to the pot. I’ve been looking at the Euro and Cable with little in them to make me want to trade, yet the other charts have so much variety. I did a couple of demo trades and made money!

I chatted to Darren and he said he’s ready to go live on DealBook. I’m not too sure about a few things so I need to ask some questions before I start to trade.

I asked GFT if I could open a second account and they said absolutely. I’m opening an account for Leigh. I set up the Dow, Ftse, Dax, Aussie 200 and the currencies and then I flicked between the charts. What a difference in trading. The currencies are so choppy and the indices seem more even. I’ve been studying their charts and I’m so grateful for this added opportunity to trade something else.

Leigh didn’t trade again today and is now playing his computer game. It’s bitterly cold here still and promises to get colder. What a wonderful time to sit snuggled in and trade NOT!! I’ve closed the charts for today.

I analysed my demo trading results and although they were much better than I’m doing now, my stops were huge compared to what I’m doing now and my trades always came back and went into profit. I would sometimes widen my stops because I knew the trend was on my side and then when it turned and came back I would reduce them. I see now that was wrong to do. I don’t regret loosing 8 pips in two trades because it could have been worse and I could have lost 20 pips in each trade with the currencies being as they were today. There wasn’t really a trend. Being real money I don’t risk the same amount anymore and that’s why I’ve had this spate of losses.

I’m amazed at my change in attitude. Whereas before losses really crippled me. Now I take them in my stride and accept its early days and I won’t make a master without practice. I also realise to practice on demo isn’t the same unless I want to try out something new. So I’ll keep my stake small and concentrate on pips and not £’s and my attitude is changing. I want to consistently make my 10 pips a day and once I can convince myself I can do this I will be ok. Leigh is amazed at how cool I am with my losses. Before I had sleepless nights, now I chalk it up to experience and the learning curve. So there is progress with me in so many ways and I think my emotions will become more detached as I go along. There are so many sides to trading and I see the similarity with golf.

What I love about your course and your way of approaching trading seems very different to what I’ve seen elsewhere on the net. MTI are all for huge gains and high risk and when they start talking its this typical American in your face stuff. I think the Americans like hype. It turns me off.

Ok that’s all for today. Chat tomorrow

Cheers

Desiree