Million Dollar Trading Challenge Weekend Review

...It Begins.. My 2nd Trading Loss in 5 Days. 

New Million Dollar Goal Date: November 18, 2015
Original Balance: $1,000.00 Current Balance: 761.88 

 BB King, a blues legend, sings a song called "you might have made your move too soon". Obviously, he is singing about a woman that broke up with a man, just before things turned around for him. If she just had waited a little while longer, she too, would now be enjoying the benefits that he is enjoying without her. She made her move too soon. This applies not only to relationships, but also to Forex trading. How? A picture is worth a thousand words. Let me give you the picture.

The dotted white line to the right marks a new trading day. On the chart, that would be 11:00 pm CST/midnight EST. At the stroke of midnight New York time, the market took off. 

I went to bed at 10:00 pm CST. When I woke up at 245am CST to begin my trading day, this is what I was greeted with. I went to sleep at 2200. The market takes off at 23:00.  I made my move too soon.

I am feeling the blues right now. Here is Mr. BB King to help me lament. https://www.youtube.com/watch?v=436114vtQKU

Since the rocket has taken off without me for the 3rd time this week, I am going to wait and see if the US session will give me any opportunities to make those elusive +20 pips I need. Not only did I NOT get the 20 pips I needed, I LOST PIPS. There is no point in hiding it. I am bummed. Each day that I do not make my goal, the goal date is pushed further and further out. Bummer. 

Here is the entire chart for last weeks trading. 

So what now? KEEP TRADING!! 

The best way to trade your way out of a trading slump is to take the next trade, because all we are really looking for is just one good trade. 

What Happened?

The markets are largely random. Yes, the "Big Boys" do have a certain amount of influence, but that fact remains that the markets are largely random, moved by the twin towers of greed and fear. Looking back over the week, I added some trades that were not part of my trading plan. I saw some setups, and I fell off the wagon. I did something that I tell others NEVER TO Do- ( Physician, heal thy self) I traded outside of my trading plan, and it cost me big time. Lesson learned. Never again will I do that. I added in one fell swoop 5 days to by trading goal date. The idea is to DECREASE the days, not increase them.

I Have Only 2 Options Left To Earn $1,000,000.00 By December 31, 2015 

1. I must win  +20 pip each trading day until that date.
2. I must have winning trades that are at least 2X  larger than my daily goal to decrease the goal date. 

Trading Game Plan For The Trading Week of April 27, 2015.

1. Do not deviate from my trading plan.
2. Keep my risks small, and let the trades run to earn a min of 2.5:1.
3. Erase EACH individual loss to decrease days to goal, and increase equity.