Trading academy news and trading psychology
I didn’t tell you guys but last week I received a letter from my trading academy to say that I was 9 months into my trading program and that I had the end of this month to restore my account back to above negative. I had racked up almost $4000 in losses for them on the live trading account and it’s only in the last 3 weeks or so that I’m starting to understand the mechanics of how trading works. I really feel that I can make it work but with only 2 weeks to go until the end of the month, it’s very unlikely that I’m going to be able to make it back unless I take some crazy risks!
As you know, I also trade only the evening session and then on average only 3 days a week due to time constraints… and not every session do I see an opportunity so then I don’t trade either. The trading academy have not distinguished between those that trade full time on this program or part-time.
Of course, I was frustrated in receiving this letter as I am getting so close to making this work for me. On Friday I suffered my biggest loss for a long time and it was because I had the thought of the letter at the back of my mind… changes which affect your mindset really do affect your trading (and it’s always for the worst).
Anyway, I have spoke to my trading mentor and he says that the boss of the trading academy is a reasonable man and that they maybe able to do something as I am starting to do ok.. well, I’ve not been able to get hold of him at all so who knows… let’s hope it works out! Fingers crossed!
I traded today, I had the thought of this letter at the back of my mind and if I lost today, it wouldn’t bear well with my case. Anyway, I did ok with a short initially at 133275.., both stochastics in the 5 and 15 mins looked good going south. I took profit right at the short term low at 133050 for +9.
I then shorted again at 132975 as the market broke through the previous level. I was a bit cautious here as I didn’t want to give back any profits for took profit at +4.
My total amount today was +13.
why do you trade with a company? why not ur own account.. at the end of the day you lose money that is your own.. you have no one pressing down on you.. I lost money but I knew it was put into that account and I wrote it off.. market is win and lose.. but initially a lot of lose even when you think your getting the hang of it. Pay them back and open your own account.. most of these companies exploit traders.