Equity Update: Week 1

Equity is currently standing at $550.67, up 10.13%.

I'm glad the previous trade managed to hit my breakeven price, or should I say, hit it by 1 pip above my entry price at 229.01. I promise I wouldn't hastily enter any trades next week.

A review of this week's trades would be pretty simple as only 2 main trades took place. One was a wrong short in EUR/AUD, which brought about a loss of approximately $25, and the other was the GBP/JPY. Details of the trades were in earlier entries.

Lessons to be learnt in these two trades would be mainly staying calm before entering any trades. Indicators never fail you as often as you fail the indicators.

Anyway IBFX's December Contest would also be starting next week as well, so it gives me even greater pressure to actually abide by the trading rules and not violate them at any given moment. Prizes would are awarded to the top 5 placings and monies are as follows:

1st $3,000
2nd $1,500
3rd $ 750
4th $ 500
5th $ 250

I've checked out the previous rounds' results. Winners did not exactly have spectacular results. But I believe if I abide by my trading rules, there shouldn't be any problems with winning the free prize monies.

All the best for next week!