Friday, June 12, 2020

Overnight win.


08:15 The PoC team carried out six trades overnight. The 6th I scratched with a minor loss and the 5th was a small win. The rest were wins. The PoC combination seems to be working to quickly recover previous losses. I'm too exhausted to trade today. I normally enjoy trading on Fridays because you tend to end with some kind of rally or trend as either shorts or longs close positions over the weekend. Therefore, doing a POETS day.

08:30 The week ends with an 11.28% draw down on overall equity. That's a recovery of 18.72% since the 30% hit this Monday.

08:36 It's always good to rate how you feel on a scale of 1 to 10 before you start trading. If you feel anything below 6 then don't trade. Almost certainly it will impact on your trading, negatively. Yesterday, I was up during the day. Then I did the Cardinal error of drinking a few glasses of wine during lunch. Sure enough, by the evening I was down. Only to recover small towards the end. Alcohol and trading don't mix. However, as the effects of alcohol wore off it did give me the inspiration to apply a PoC combination. It's hard to say if the recovery would have been higher - I estimate closer to 26%. Just like you don't drink and drive then don't drink and trade.