Blew another PA today

I was even up $500 at one point. Greed can be bad!

But, I don’t want to stop trading because I am afraid to lose! I think winners keep trading when they see opportunity. My problem generally revolves around being unwilling to accept reality that a trade just won’t turn around. I need a rule that says pull the plug when this happens and stop hopeful trading.

I will work on that!

I went and bought a new eval from Apex Trader Funding and was able to complete the eval in about 15mins. You see, my mindset is I am willing to risk $35 for the chance to make $500 or more. So I trade with three or four contracts. If I blow the eval, so what? It was only $35. When I get to $2000 profit, I scale back a bit because getting another $1000 with only one or two contracts doesn’t take long.

And there’s my hint. I am impatient! When I trade 3 or 4 micros, I make money – but, in my mind, it is not quick enough! I was up $1600 in the last PA and blew it because I wan’t satisfied. Had I been trading 2 or three minis, I’d have been well over the $3500 target and THEN would have gone back to micros being satisfied with only $100 to $200 per day.

There’s still a risk that I’ll blow the PA. That risk is $125, currently. Yes, it’s more money, but pussy footing around trying not to lose is just as probable that I’ll blow it.

What I need is to get just one account yielding $1000 per month and that can fund future chances.

I just did a spreadsheet that shows the potential of self funding with great income using aggressive trading to get to payout. I’ll give it a whirl.

I must be ready for the next sale!