04/11/07

I made profit but in a wrong way today. I was fighting the trend, averaging down, over trading. I could lose much more than I made. It is usual way how I put myself down for a few months worth of profit. Every time it starts to happening I'm disappointed and confused. I'm thinking, isn't this over, I don't do that any more. But I do. Lucky circumstance was that I knew about real resistance at 820 in gbpusd so it wasn't so blind. I don't like any more to watch the price creep up and my loss getting bigger waiting for reversal.
How is that I'm not afraid to make such big positions and open myself for a big loss and yesterday I was afraid of holding position because I could loose on it 10 pips?



Good news is that I was near buying it at 770 but I didn't, it's improvement.
On this little short all was still ok, position didn't fall so I exited. +1All three next positions were in my regular size so it means I was loosing 3 times as big and I was adding to a loss. Maybe situation like this when I get reward for bad trading are reason why I do it next time. +6+12+24 = +42

If I know about a resistance at 820 better thing would be to wait for it not start shorting 20 pips lower, but fear of missing out kicks in. This fear based trading is harder and harder to do.


Around a top I put in this gbpjpy short because it's fast pair I was probably angry because at 8:50 I was near shorting it at 236 but I didn't. So I was watching 20 something pips move in 4 minutes. +18


Move down was fast and I didn't want to risk fast reaction back up that sometimes happen so I exited all.

+61 pip of bad trading.