Wednesday, March 21, 2007

Disaster

I had another blow up. Monday and Tuesday I managed to lose about 10% of account. How? When a stop get hit I would get mad and open another trade at that price trying to get lost back. Than price would go against me some more and I would slowly add to loosing position. It's madness, but at that time there is nobody home in my head to stop that. Revenge trading, averaging, moving stops... One day I hope it will be over. I'm pretty tired of doing that. Like Dr. Brett Steenbarger says I'm getting disgust myself.

Chart's of those trades I really don't won't to post.

I'm realizing that to change my patterns I got to change style of trading. Try to be more trend following and much less picking reversals style. First change I'm going to made is to drop 1min time frame. From now on I want to learn trading on 5min charts and up.
Second change I'm going to drop 30 pip week target. It can be signpost of how I'm doing but it started to be a pressure, when I'm down I'm just thinking about that target and do crazy stuff to get it. It would be more wise just to trade as good as I can.

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