When I started this blog I didn't have intention to make it some sort of journal. But as days go by I can see that there is not much to post about if I don't post trades. Trading in the end is not so exciting and fresh after some time. When you know all you want to know about various chart patterns, trading styles, trading setups, etc. it's all just repetition. Reading other blogs rarely I find article that is new information and of greater interest for me, if I do I put it in my del.icio.us links. But reading about various trades it's always interesting.
Reading about NYSE Scalper recent problems and Trader ZBS catastrophic days this and last week was like reading some hot book in sequels. Boogster also have roller coaster rides. I enjoy reading all in a good day or a bad day because it's all trading and I can relate to it.
So now I will start and try to be consistent in putting charts of my trades in this blog. Even some of my trades when I look back on them have no head or tail, just a blink in universe without purpose and rationality. I hope that posting in journal like way will prevent me of having blowout days like two weeks ago when I started small, average down, change stops and put myself in position when loss is "too big" to take it and that usually mean that it will just get bigger and that I would very soon be happy if I could still have a chance of taking that "too big" loss because it's catastrophic by that time. But I'm too ashamed to talk about that loss, size of a loss and post ugly looking charts of it.
Before month or so I decided to structure trading around goals. I put on purpose reasonably small goal of 30 pips a week with leverage 5X, so it equals in about 6% a month and compounded about 100% a year. When trading it's very easy to be not satisfied with your results. But if someone asks me is 100% a year big to me I would say YEAH! But if I trade and get 30 pips it's small even in a day for my mind. So to prevent overtrading and have some structure with only aim of achieving those 30 pips a week than I know what to do. There is less urge to take any trade that I see that could be developing and trade like crazy monkey hitting keys on keyboard. With having target on my mind trading becomes more like a job to do, less a fun video game. It totally changes how I see things on my charts and I like that state of mind. Also there is that great feeling of achievement when I hit my target as small the target is.
So I got myself 2 week's with accomplishing my goal, than came Sunday 11. March and big gbp/jpy fall and I trade that in "wrong" direction and after that big loss I didn't trade for a rest of a week. But this week I again traded and now I'm on 1-2 pips of achieving my "big" weekly 30 pips target.
For this week I don't know will I pressure myself to get that 1 pip, because I put on the line 29 of them. I also didn't yet decided will I stop trading when I hit target or what.
Reading about NYSE Scalper recent problems and Trader ZBS catastrophic days this and last week was like reading some hot book in sequels. Boogster also have roller coaster rides. I enjoy reading all in a good day or a bad day because it's all trading and I can relate to it.
So now I will start and try to be consistent in putting charts of my trades in this blog. Even some of my trades when I look back on them have no head or tail, just a blink in universe without purpose and rationality. I hope that posting in journal like way will prevent me of having blowout days like two weeks ago when I started small, average down, change stops and put myself in position when loss is "too big" to take it and that usually mean that it will just get bigger and that I would very soon be happy if I could still have a chance of taking that "too big" loss because it's catastrophic by that time. But I'm too ashamed to talk about that loss, size of a loss and post ugly looking charts of it.
Before month or so I decided to structure trading around goals. I put on purpose reasonably small goal of 30 pips a week with leverage 5X, so it equals in about 6% a month and compounded about 100% a year. When trading it's very easy to be not satisfied with your results. But if someone asks me is 100% a year big to me I would say YEAH! But if I trade and get 30 pips it's small even in a day for my mind. So to prevent overtrading and have some structure with only aim of achieving those 30 pips a week than I know what to do. There is less urge to take any trade that I see that could be developing and trade like crazy monkey hitting keys on keyboard. With having target on my mind trading becomes more like a job to do, less a fun video game. It totally changes how I see things on my charts and I like that state of mind. Also there is that great feeling of achievement when I hit my target as small the target is.
So I got myself 2 week's with accomplishing my goal, than came Sunday 11. March and big gbp/jpy fall and I trade that in "wrong" direction and after that big loss I didn't trade for a rest of a week. But this week I again traded and now I'm on 1-2 pips of achieving my "big" weekly 30 pips target.
For this week I don't know will I pressure myself to get that 1 pip, because I put on the line 29 of them. I also didn't yet decided will I stop trading when I hit target or what.
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