The Small Account Challenge did start off great the first two days making almost $300. But the next 7-8 trading days resulted in a draw down that has my account sitting at $2,580 as you can see in the graph below.
Interestingly enough if I had not averaged down on a loser, or revenge traded that one time, the account would be very much in the green. Like I have stated many times before, it’s always 2-3 bad trades that result in blowing up an account.
I have been here before many times in the last 18 months so I know it’s time to focus, be patient and let the market come to me.
In this video I will discuss 4 mistakes and what I plan to do this upcoming week to turn the account around back into positive territory.