Monday, April 14, 2008

I will never learn

From bad to worse.

In the morning I put a scalp with half size and didn't want to stop out but to manage trade with averaging. I was sitting in the trade for a long time. I took 6 pips and was happy. Than I decided to risk those 6 pips from that two position on again half size trade. I took also 6 pips and that was ok trade. Just a trade. Later market broke up but I didn't enter.

I was worn down from sitting in bad trade in the morning. So in the afternoon there is no way to make good decisions. It's especially sweet when market is irrational by my judgment and I try to put in some rationality with fighting the trend. Only good thing from eur/usd trades against the trend is that I didn't average more. I thought about it but I said no. This averaging so far is manageable and it's not big loss for a day because of previous gains so stick with it.
I did open shorts in gbp/usd, that could be considered averaging of eur/usd but it was some kind of top and not just blind averaging. So market fell in front of the news at 14:30 and I closed trades. Gbp/usd was the strongest of all pairs in that moment so I didn't get much. On those 4 half trades in eur & gbp I got again 6 pips.

So 3 X 6 = 18 pips on bad trading with a lot of risk and bad behavior.

And when I look at charts they look so nice for opposite side of my trades. When you start with bad mind frame it will not go to the good side.

Important thing today was big gap down over the weekend, but market steadily filled it up and there was no resistance.
I was trading today and I trade bad, not scalping. Maybe it was to slow for scalping but than why trade at all. I will probably never learn to trade well, so it's good to just scalp. When you don't want to take stop on first trade you ruin the day and expose account to risk for no reason.

Also I think that today I was in entertainment mood. I had all day for trading so I wanted to have fun. It's stupid but it's reality. Adrenalin fix, little of bad emotions, fear, hope and my day was filled. I got my entertainment from markets and my interaction with it. It's usually very bad for my account.

No comments: