Are there cracks in your trading strategy?
Are you taking big trades when you have a small account? Are you trading varying lot sizes every trade? Do you take big bets when you get a rush of emotion? Ever taken a trade that is twice as big as the last, just to make back some losses? Those are cracks in your trading strategy, and there as dangerous to your account as a plumber's butt crack is to your eyes.
Stop and take some time every weekend and think about cracks. Your cracks. Are you risking too much? Are you in danger of losing your account?
Here are some questions to ask at the end of the week:
1. What was the worst trade of the week?
2. How can you avoid that trade in the future?
3. What was the best trade of the week?
4. What can you do to set up that same type of trade?
5. What was your average loss?
6. Your average gain?
7. Are you running out of toiilet paper?
Hope you're having a great weekend. I am in Las Vegas and having a blast.
