Day Three - $1K Binary Trading Challenge

$100 to $1k Binary Challenge Forex Challenge Forex Lesson

Today taught me something very important when it comes to trading...

No matter how bad it seems, if you have money in your account you always have an opportunity to grow.

One of the things which one of my mentors taught me (which for 30 seconds I forgot today), is that it's ok to lose, as long as the loss doesn't wipe you out. Today, I almost wiped myself out. After taking the account to $162 in the first day, within 7 trades I think I was back down to $51.

That was just my morning session.

With a break, a fresh attitude, clear mind, fresh coffee and a slightly more aggressive approach in terms of the size of my trades, the second session was a lot better.

The new strategy came about because of my success hitting winning trade in the first two trades.

I realised that if I was to make anything of this challenge I need to get that success back. I upped my start trades to $10.

This led to the recovery. In the third session, again refreshed and clear headed, I then hit on 12 of 15. This led to the account closing out on $234.

As I write this I have realised the recording did not work due to an update on OBS (very frustrating).

As you can see, there were a couple of very squeak moments throughout the sessions, however the indicators showed their value by pulling me through my poor moments.

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