Okay!!
I have defeated myself and I think this is the very first step of cash management. Contemplating this...I begin new and this is my journal, my path of whatever I'm doing. If I'm successful I will do FOREX and should I loose this journal. . .then I'm out. No more casinoing
I'm starting with 500 dollars demo account (really this is the account that dropped from 1000 to 500 dollars in two days). I know the reason for this decline and that I know that I'm responsible for this.
I'm taking no more than 6-10 PIPS in a day, of course with stop loss. Stop loss won't be fixed. I will be just fine with each win and will draw real 10 dollars from my own account....every time I loose (I do not know what I will do with that pulled amount but I know that by doing so I'm feeling the loss of cash in my account)
I'm not leaving computer screen throughout the time when I am in exchange. This doesn't means that I will continue looking at the blinking PL column like zombies but rather I will do some thing else, may be a few reading.
However much the market appears promising. I am not going back to the charts if during the particular period of trading I have met my PIPS.
No more enjoyable stuff and kick out of clicking the mouse here and there
I will make trading as boring as simple as possible. I will reduce my exposure to open positions and therefore risk to as much as you can.
I won't exchange more than 1%. . .but this is question and that I am working on calculating this
I will post each and every transaction I took and its own result and will post my PL equation each 15 days (beginning July 19th)