Thursday, January 31, 2008

January 2008. results

+166 pips


Well, it's great. I still do some really bad trading but I can see that I'm improving. Latest thinking get me to decision that it would be best just to only take small profits as I usually do just because I enjoy in that. Where is enjoyment there are positive results. Let's put aside mathematics and optimization of trading to get the best risk reward ratios. I got to put me and my mental strength and weaknesses in equation. Whenever I'm in deeply red trade, or string of trades with averaging I'm thinking how will I swing other side with that size and take 50, 100 pips. It's just wishful thinking that does me any good. I just don't stay that long in positive trades and it's better for me to accept that, it's reality.

If I know that than I don't expect big trades and maybe don't bet the farm on any losing trade, because there is no big trade that can substitute loses made with that. If I trade small I take small wins and also small loses. I don't use all the potential that is available to me in markets. But that's me and I got to adapt to that. I should focus on thing that I do well and disregard anything else.

My new idea is also to take small winners if I have them and call it for the day. Staying longer by the screen put me under the pressure. I start to think and trade defensively to save my new profits. That sometimes give me the worst mistakes in a way that I don't want to take next loss in order to secure just made profit. That takes me into moving stops, averaging, insane risks. All that could be prevented if I took the winner, or winners however small they are and quit for the day. If I'm happy with that small winner I should listen to myself and stay happy.

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