Monday, May 22, 2023

2023W20 Review

It's a week that I lost just over $500 (on demo account), that's about -10%. But still I don't think it's a terrible week... except the last handful of trades

All was quite well, with some small gains and rather big losses, perhaps the expected return with this high hit rate and low return strategy.

Emotion... is still biggest thing, even on a demo account. 

When I was on winning streak of 2, 3, or 4, I was able to stay rational, be patient, stick to the plan, wait for opportunities to show themselves instead of keep looking for one, no FOMO even when price ran away.
But when winning streak got longer, like 4, 5, 6, then complacence and arrogance started to creep in. 轻浮,浮夸,不严谨。

The worst thing, however, was after one or two losses... then I tend to become aggressive, go on offensive and try to regain lost capital,  start to tweak my game plan, which may not be a good thing for an inexperienced trader.

In terms of market movement, biggest killer was still one-way train movement.

I trade on "reactions" and "rebounds", 10p can be obtained, even on a one-way train. But one-way train has another voodoo... which is speed. 10p may be hit in a few seconds, or 1 min, and that is very exciting, tempting me to catch more small profits.... then inevitably, will get trapped before too long.

Grade: B




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