750 - back to the past, buckle up and go again!

I am back to exactly the same dollar amount when I started using the MG methodology few weeks ago. I closed out all 6 of my trades I had, as I felt that they are too taxing on my overall funds, especially when I am still trying to see if it really works.

Some of the trades have Stop Loss allowance of 300 pips, and each hundred pips cost about $30. If I have all 6 trades closed out at 300 pips, it would cost me $540, which leaves me with $210 in my account.

So for now, I will use the minimum lot size for each trade, which is 1000 units for each trade. If the worst situation as above happens, I should lose around $180. As each bet is lower, it also gives me more confidence and peace to enter more trades. And more trades also equal better diversification.

Just to recap before I restart my week on trading again:

• Basic idea is to have a pool of trades. Let the winning trades run, cut the losing trades short.
• My current style of trading is identifying Resistance/Support zone, and observing the Price Action around it.
• As for Entry, enter after the candle of a good quality signal. (Big Shadow, Pin, Double Bottom/Top, Last Kiss, etc)
• As for my Exits, I will be playing the Fishing style. Plant Stop Loss at somewhere you do not think it is possible for price to go if it is a winning trade.

And with that, I will commence on trading. Good luck and Huat!