This month’s performance may be small for most people. Well, it is small. But for my mental wallet and my trading psychology, I’ve seen massive growth.

In January 2023, I experienced gains. In February 2023, I lost them all.

I thought I could win them all back just by increasing my lot size, so I deposited money again in February, only to lose them all in the same month.

I failed to gain them back in March 2023.

In trading, you can earn as easily as you can lose and vice versa. You can lose even faster if you don’t know when to stop trading.

That’s what happened to me. My mental wallet is personal. It’s small. I need to increase it so I can trade bigger money without losing them all again.

In April, I stopped trading to focus on my work.

In May, I started trading again, determined to go the slower path. I now learned that you can’t just gamble your way to profitable trading. You need consistency in execution. Slow is fast. Being greedy is the fastest way to burn your account.

May 1-12, 2023 Trading Performance

My new goal is to be consistent. This month, I have set 2 personal goals:

  • Win 400 pips and stop trading for the day
  • Breakeven and stop trading for the day

I realized that I suck at riding the trend. I spot them, ride them, but freeze when taking a profit. I end up losing the gains I would have had. So, this is my solution. Win 400 pips and stop trading.

This gives some kind of certainty, doesn’t skyrocket my stress level, and gives me time and energy to focus on my work because I don’t need to think about my open trades.

January 1 to May 12, 2023 Trading Performance

As you can see, there’s still a long way to go before I break even.

What pair do you trade?

  • XAUUSD

When did you start trading?

  • I started trading in 2017, on and off.

Are you a full-time trader?

  • No, I don’t intend to make trading a full-time job. I don’t want to stare at monitors all day.

Where did you learn to trade?

  • I enrolled in 1 consultation and 3 trading courses (1 for the Philippine stock market, 1 for Futures trading, and 1 for Forex).
  • The best course I took that is aligned with my goals (trading for only a few minutes a day), is Leo Advantage.
  • Sign up using my code LA-PMF to get a 2000 pesos discount on the enrolment fee.

What is your broker

  • I use HFM (Hot Forex Market)

What is your day job?

  • I’m an SEO strategist. I rank websites on Google.