Important Silver Market Correction.

Today is an important day for me, marking my event in case WHAT IF the silver market went against me. I'm running low on cash and now, the most important correction of the week happens and I'm low on cash. I've held several trades accumulated of 1110 units (USD 0.10 per unit per pip) averaged at 13.7616. Therefore, I've now got the chance to test my strategy against the market that goes against me. My current running P/L is USD -198.20 or 37.20% drawdown.

It happens at the wrong time again where I have insufficient funds to fully test out my trading system. I need to have at LEAST USD 1000 in the account to maintain the effectiveness of the strategy. I lost my chances of placing trades at dip at 13.5 and only placed 110 units at 13.6 due to my margin restrictions.

I will make an immediate money transfer of USD 1000 the first thing tomorrow when the bank opens. Hopefully, the money will be available in time to make the trades. The only reason I could see why there's a such a retracement today is due to oil prices dropping. I don't expect oil price to drop further as US winter is still going on and won't expect to settle until March. During this retracement, I will continue to make purchases when silver reaches significant low but I would be in trouble if it breaks 13.47 resistance if my money hasn't reach Oanda. Hopefully I will be in time for this wonderful time.

Happy Trading!