End of this month was not good. On the last Friday I took a 5% loss which is extremely rare for me. I have been using a policy whereby I stop trading if I lose 4% in a day.
I was a bit cocky as I had so many winning trades in a row, I went almost 2 weeks without a losing trade. Then that Friday, I thought no way I could lose 5 trades in a row ... but it happened
I now have changed this rule to 3% loss to stop trading. I found the 5% loss quite hard to make up ie I ended up below target ie should have hit 50% but ended at 45%
I was a bit cocky as I had so many winning trades in a row, I went almost 2 weeks without a losing trade. Then that Friday, I thought no way I could lose 5 trades in a row ... but it happened
I now have changed this rule to 3% loss to stop trading. I found the 5% loss quite hard to make up ie I ended up below target ie should have hit 50% but ended at 45%