September 2007. results

-132 pips
-7%

Shame on me. If only lost pips came from 10 loosing trades, not just one bad averaging day.
4 trading days, two small wins, b/e and monster unnecessary loosing day.

One step forward two steps back

Costly exercise in bad trading running against uptrend. Trouble was also that every position was full one, so I blow all money management reasoning. Around 11.25 I had profit of 5 pips times two positions but I didn't take it. I wanted more, I really get up that morning on wrong foot. About minute before my exit I was red just for 12 pips x4 positions. Than gbp/usd took of like crazy and every second was costly. Than it looked like a fake spike up and I shorted again with with full 4 positions and lost again more.
-50
-35
-23
-13
-9 x 4 = -36

-157






In hindsight if reversed my positions would be very nice. It's so easy to fight the trend and so hard to just let yourself with the flow.

Forex trading 09/27/07

Bad trading.

Good thing was that all positions are 1/3 size, but the problem was that I averaged to fast. Loss for whole position was about-25 pips so it's 2R, again bad trading. Good thing that I didn't try to put more than 3 positions, I wanted but there is some discipline in me :)

I think that this position was initiated because I wanted to go long but couldn't because I had a fear, as usual in all attempts to trade with the trend. Those positions against the trend are positions based on inability they are different of successfully reversal trades. Once in the position of that type there is no easy coming out. So it's better to be careful in the first place and closely monitor what is my motivation for initiating trade.

In the end of the position I had luck because eur and chf were losing ground against usd, gbp/usd was moving slowly and than stop. It didn't fall as others in that moment and I knew if I didn't get out now I would again stay in a loss and let it go all the way up. So I missed 10 pips that I could get in next 10 minutes.


b/e

Forex trading 09/26/07

It's funny that primary reason for this gbp/usd trade was that I feared of going long. It's usually different, I don't fear of trying to make reversal trades at all. When I realized that I have fear, every other pair stalled in usd strength I was thinking it could be good to fade my feelings. In the end it was worthed .

I contemplated in staying in that trade but it's trade againstf 5min chart trend so why to risk when I got my full R.

+12

Forex trading 09/25/07

Finally start of trading after few weeks of pause, I missed it.


+2



+11

Ashamed of losing

I'm reading High Probability Trading today and I can see something with what I'm too familiar. Losing big time, losing control completely. It's sad but it's so common problem that it's crazy, one of mine many situations was back in July. It easily can happen again. Same pattern killed TraderZBS many times.

Making decisions that you will trade differently next time is not enough. Simple thoughts and decisions are not enough. Deeper introspective is necessary because it will happen again and again. I don't have the answer for myself yet. But it's the biggest problem out there in trading for me and I think for everybody else.

And for the end I want to share picture of madness that I had back in March when I lost about 20% of account. I was to ashamed to share that at that time.

She earns $ 70,000 a month running website and she is 17 years old

Isn't it crazy that we are fighting the markets losing and wining and there are more coolest ways to make tons of money.

Fast Company have article about a girl Ashley Qualls (17) that makes $70,000 a month running a site with designs for MySpace pages. Her site Whateverlife.com gets 7 individual and 60 million page views a month. Site is free and revenue comes from ads.



Well, $ 70,000 or not I'll stick to my forex learning curve.

August 2007. results

I made all in all with interest about 58 pips or 3% from the start of the month. I had two days of bad bad trading with averaging. Big risks that I could lost 3 times as much than I won for a month in any of those days. I didn't have big winers or losers ( pure luck).
I traded on eight days in August.

In September unfortunately I won't have much time for trading