Tuesday, February 5, 2008

I lost 74 pips today

It was -101 at some point, than I gain something back. I was in another open loss of about -90 but it got back to b/e. In the end I was trading 5x bigger position than usual.
Problem with the trading insanity is that you don't have control when it starts and you can't end it easily.

It all started innocent, I tried to pick the bottom because it slowly broke support below 795 and it could quickly bounce back. I lost -4 pips on that trade and I should all end it there. The idea didn't work, I tried and that's it. But I stick to buying, market traded slowly lower. That slowness tricked me. Loses got bigger, risks to get it back also got bigger and that's it.

It happened to me numerous times. I can't learn trading without trading live and those are my usual mistakes and problems. Well yesterday I was at some point in open loss of 75 pips doing averaging and I got out flat. You can't do bad trading day after day and don't get caught.

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