First Week Forex Report: Fail

I prepared a 100-day (trading days) goal last week and here’s the brief report.

I started a new trading account with Instaforex and deposited $10 into it. I only have time to trade during night time, after I finish my work, which is fine.

The first 2 days went smoothly and I managed to achieve the daily 20-pips target that I’ve set. The problem start to occur when my greedy mind starts to takeover and I decided to open new position with bigger entry lot even when the market haven’t show any sign of reversal. That causes me to lose half of my equity.

On Thursday, the market direction moves in my favor but I didn’t respond quick enough to take the profit, hoping that it will continue to go up, only to see it dive and hit my Stop Loss (SL). Sucks!

I’m going to deposit another $10 tomorrow and stick strictly to the 20 pips per day goal. For those of you who want to join me or learn how to trade forex, I would suggest you to use InstaForex.

You don’t have to pay anything to use their demo account.