Just now, in the space of 20 minutes, I have lost 187 pounds.
For the first time I had implemented a strategy and it was working slow but, sure enough, money was flowing in (scalping).
Unfortunately, the rule of limiting your losses when you do make a mistake was ignored and I quickly lost all my profit …and then a nightmare began. The spread betting program froze. This had never happened to me before and it was a very, very big shock. Needless to say, after resetting my computer I had lost more then just my profit. 185 pounds gone like that. To my horror, upon trying to close the position the program had reset the bet so I didn’t close in time costing me an extra 3 pounds in commission.
Who is to blame? Me. Firstly for having a crappy computer, secondly for not having a automatic stop loss and thirdly for not having the discipline to follow the plan.
Lesson learned, tears wiped, we will try again tomorrow.
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