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Thursday, 7 June 2007

June 7 Trade Summary $-18k



I blew up today. I can't trade large size. I had to leave for work and left a portion of my position on and it cost me an extra 5k in losses. This is why I still have a fulltime job. For days like this. You never know when they will strike. I made many mistakes, but it doesn't matter now. I don't know what to say, and I feel nothing right now. I had a chance to exit for a profit at my target but I didn't go flat, and it cost me. I pretty much lost all of last months profit in 1 day. I leveraged myself long in at the top with no stop, and exited a large chunk of my position when I had to leave for work which happened to be at a peak selling point. I left on 6 cards, which are now 6 pts and $3,600 cut deeper into my account. I'm officially an idiot that doesn't know how to trade. This is a classic newbie mistake of trading too large of size, not using stops, and freezing up and waiting until you felt the max pain on your position. I think I need some time to recoup from this loss. I have to work a lot next week. I should have gone to bed earlier last night and planned out the day ahead of time and not put myself in this position. The only way I will be able to survive is if I trade small it looks like. I'll have to go back to the drawing board and just look to make a couple hundred dollars a day instead of thousands. How cool am I for making this post were I talk about my huge screw up were I lost 18k in 1 day.

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