Tuesday, April 1, 2008

First very good trading than bad one

Nice little eur/usd trade in which I got full R of +6 pips. It's slow market and it's nice to get little profit.

Eur was breaking it's support and I shorted gbp because it bounce from support and I was thinking that maybe if it go all the way back it will broke the support and make extended move down. It was half position trade because of the volatility. On that one I got +11 pips of full size.

I'm proud on this kind of trading I would like it to be whole time like that.

Than I started to trade bad. Gbp/usd was heading up alone and it looked like it's short covering. In some moment I decided that it's enough and that it will probably go back. It didn't. It was half position trade. I had stop but than I got such big urge to move stop and add to position. It was such a rush, warm feeling. I don't know can I fight that. This time I couldn't.
Luckily I didn't add to gbp/usd but to gbp/chf which was so extended for the day, two full positions. Pure averaging. Pure bad behavior. It's backed up on some level in reality. Problem is that I probably wouldn't exit those two positions on reasonable stop if they went against me.
I got my exit for all at b/e. But I'm sad, this good trading thing will be harder than I thought. If I enter with half conviction into the trade and it goes against me I'm toasted because of my bad trading behavior.

Funny thing is that while I write this gbp/chf trade is more than 30 pips in profit but it's averaging trade, on those trades I don't get the juice because I exit where I need to not where it's good to.

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