Forex trading 08/29/07

Lol, nothing is new, just old pinpointing climax.
I scaled in with 1/3 of a position at the time and it was wise to do so.
This time I honestly wanted to stay longer but gbp/usd at that time didn't show enough weakness to promise full reversal.
+12 pips

Forex trading 08/24/07

Let's put aside my inability to trade in direction of the trends.
I totally don't know how can I pick reversals so often and so precise. I just have a need to enter that trade. It's not that I was mad by letting rally up go besides me. I was clear in my head making notes of buying points paper trading in my mind. But it's like it's not meant for me to trade on that kind of moves. But when reversal is approaching, it doesn't have to be full reversal, just reaction I got to get in. It's my kind of move.
Ability to pick reversals is probably a lot's of screen time that's now integrated in my mind. Because of it it's the problem also to learn new tricks. When you learn something it's hard to unlearn and it's hard to learn opposite skill set.

Yesterday I was thinking and realized that I'm mixing swing trading ideas with scalping for small profits. I don't do swing trades because I like to keep my stops (when I oblige them) close. It's too close for swing. Other thing is that I never stay in the trade for the whole move.
OK I have swing trading ideas and scalp trading personality. So I had a long talk with myself that it's ok to use swing idea, make a scalp trade and leave profits on the table. It's better than don't go in at all.
So I was in peace with my exit and leaving profits on the table.

+12 (10)

Forex trading 08/23/07

I wasn't trading for a few days, didn't make any progress towards trading to win mental attitude, so result is everything is the same.
Watching big fast uptrend, not in the mood to go in with it not even for a scalp of few pips. But I jump in on the short side. Than move stop, it got hit anyway, I didn't have time for move it again.
Short again 10 seconds later. I'm screaming in my head whole time don't do it it's all wrong. Price is hovering around, then it looked like it will start falling gbp/usd started to get weak. I added another position, more risk.

Finally just luck, I got my break even exit and some more. Good thing that I made exit. When the trade is bad from the start it's ok to get out if you got lucky and not trying to get profits.

Pure trading not to lose.

-37 +23 +20 = +6

Fascinating

In my few years old trading carrier I newer sow something like this, I didn't know that it's possible.

A picture is worth a 2500 pips

Forex trading 08/15/07 III

I'm really angry on myself and disappointed. The best trade I took today I got shaken out of it. Like I couldn't stay in it and lose 10, 20 pips if it were going up. No, I got to get of my good trades fast before I make some profit.
I got 2 pips, very nice.

Scary!

What a short squeeze! Last 100 pips in just a 3 minutes.

Forex trading 08/15/07 II

I hate to be down for a day, it's amateurish but it gives me aggressiveness that I usually lack to make profitable trade.
So, another gbp/jpy trade +17 (+15)

Forex trading 08/15/07

Bad trading. No idea, no feel , just random. In the middle of it my dsl broke and I got to restart, when I got online I exited.

Gbp/usd -11 -2
Gbp/jpy +7(+5)
= -8

News trading

First I had some experiments on 5sec chart for -4 pips.





Gbp news came out and it was way below expectations and bearish for gbp. When the spread narrowed I shorted gbb/jpy because at that time it had 4pips spread just like gbp/usd and its faster. In behind is gbp/usd chart.

I just grabbed something without trying to maximize opportunity. +19 (+16 regular size).

Trading not to lose

As usually when it's going in my direction I go out very fast.
It's true that today was wise to get out fast with last trades because it could go down all the way. But the absence of trading to win can also be seen.

I broke the rules

First trade I moved the stop. I was saved by 2-3 pips. It's so rewarding to break rules I didn't get -20 but rewarded with +12. So it's 30 pips difference. Very easy to get used to it, but than I pay later.




I don't think that any rules will help my trading. I can't talk myself into good trading. I think that moving stops and averaging is second problem, smaller. First is that I don't trade trends. I don't go in the market direction. I always try to catch reversal.

Why? Funny, I fear of the loss, but when I trade reversal there is no fear.



I dig the hole with this trade. Started to move stops and than I started to "saving" myself with gbp/jpy trades. In the end in this one I took -23 stop.



This really is something. Madness and despair in the act. -19 -20 -17 +21 +16 +26 = +7
What if position 4. and 5. got their stops how big loss would that be +100 pips!

Position 1. had nice profit but it wasn't enough to save gbp/usd loss at that time so I made a loser out of it.





I got to start thinking in the other direction. Not how to stop bad behavior but how to start good one. It's all about "trading to win" vs. "trading not to lose".


Today wasn't disaster because in the end it was -8 pips regular size pip loss. But it's disastrous trading.

Forex trading 08/10/07

I made mistake in the exit. I got scared with 5 pip drop in the second so I got out with 4 pips. It would be wiser if I waited until b/e to get out. I got 4 pips and lost opportunity for full R of 10 pips or 2R that later materialized. I was more patient few minutes earlier when my entry was tested.

Volatility!

Just a few pips in this crazy fast market.

100 pips down in the few minutes, than again 100, then up 100, down again and of course up 100. All of that in less than 60 minutes.