Trading with Ricky day 20

Day 20

Today, I incurred another significant loss in my trading endeavors. Regrettably, I deviated from my established rules by engaging in trading with a Chinese stock, (they are notorious for its susceptibility to pump-and-dump schemes), and by impulsively chasing green candles. Despite my previous success with HTOO, where I achieved my 6% profit goal, a single ill-advised trade wiped out those gains. Although there was a potential profit opportunity with the Chinese stock WAFU, indicated by a pull back play, I hesitated due to adherence to my trading rules. However, as the stock continued to surge, I succumbed to emotional impulses and abandoned my strategy, only to witness a sharp downturn immediately afterward.

It is evident that adhering to my trading rules and mastering emotional control is an ongoing challenge that cannot be resolved overnight. Reflecting on past experiences, I realize that every major loss I've encountered resulted from disregarding my own guidelines. It's disheartening to acknowledge that despite being aware of the correct approach, I often allow emotions and negative psychology to dictate my actions.

In documenting my journey through this journal, I aspire to gain clarity of mind and cultivate the discipline necessary for successful trading. While the road ahead may seem daunting, I choose to remain optimistic and focus on the broader perspective. After all, it's only the 20th day of this journey. I eagerly anticipate observing my progress on day 100, day 1,000, and beyond.