3 1K LOSS

 Today I lost 1K USD. It's the initial amount I invested on XTB. I'm now left with 223 USD, which is the total profit I gained since the day I started trading for real (Sept __, 2023). 

Here's what happened. I mistakenly opened a wrong position. I checked long frames and they seem to be down trend. I put a trend line on h1 frame and it's also going down with 3 candles going up. I figured those were negligible and will eventually go down. I went on to check m1 frame and as soon as it went down trend, I clicked red for sell. And less than few minutes, trend went up. Increasing my loss too. I couldn't look anymore so I logged out. 

My strategy was to let it open overnight, thinking it will eventually go down to the set TP. Hours later, XTB automatically closed my position at -1023 loss. I couldn't believe it. 3 weeks worth of trading with consistent gains, now all gone in just few hours and one single mistake. 

Ok I understand now that it will take forever to get back to break even again. With 200 USD left and 0.01 volume trade, I can target getting 2 USD per day now. I'm so mad but that's the risky and ugly truth about trading. I've been doing great since I started, and I lost everything in one day. 

I opened position at price _____ at 17:00. XTB closed it at price ____ at 19:00 with loss of 1023 USD. 

I'm thinking if I hadn't logged out, I would have seen my funds depleting, and I could have deposited more so my margin increased too. 

What am I to do differently now?

  1. Log in on XTB at a fixed time. 6pm 
  2. Observe movement for at least an hour before opening.
  3. Take down movement every 15 minutes.
  4. Make sure all trends in all time frames are the same. 
  5. Check M1 trend before deciding final position to open.
  6. Check possible resistance. Show trend lines, vertical and horizontal lines.
  7. Stick with 2 dollar/day gain
  8. NEVER OPEN IF YOU ARE UNSURE.
  9. Do not risk trading when in doubt.
Tomorrow will be another trading day. It's going to be a long one, and it will take long to see results, but I'll get there. This is just a delay to the 1M I'm aiming for. 

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