I have to be totally upfront and say that today, I was not on my game at the start of the session. I ignored the price movement and after taking a win….took a loss. It really should not have happened.
Now, that I have that out of the way, I did manage to make up for it on the third trade of the session. Having set principles and using them 99% of the time (the 1% was my second trade) does allow you to eek out profits in the competitive business of trading. That 1% not only costs you a losing trade but you still have to pay the broker their commission so it pays to keep a tight grip on how you trade. I want to trade LESS and make MORE by being liberal with profit targets AND not taking too many trades. Today, took one too many but did extend one profit target as well as cutting risk on the loser causing a slightly lower $$ loss.