Wednesday, April 16, 2008

I'm improving but long way to go

It started like it should be every time but it's rarely that way. I noticed in early stage that something is going on. I didn't act for few minutes but finally I did enter. It looked like we have buying going on. Price was strong on 10sec no going back just breaking levels one by one. Maybe I should add on because it was only half position in eur/usd but it was great that I'm doing the right thing. Off course I exit it in clumsy way for +13 full pips.

It broke all the levels and make 120 pips from my entry. It's all ok I didn't fight it that's great stuff and wasn't intimidated in early stage. So valid reasons for entry bad exit but learning.

Than the problem starts. I had idea for last few days. It's bad for me to have idea. That gbp will break out. So, on gbp/chf down trend line was broken and now it was tested. I wanted this thing to work. So I entered and when it went against me I averaged.
I think that it's confluence of all things good trade, bad exit, market running, me exited early. So I entered in my usual bad mental state: I want this thing to work and will not let go no matter what happens. I was in the end lucky. I made 3 times half size entry's and finally took exit around b/e for +6 pips.
Maybe that swing trade would work in the end, but I'm not ready for real swing trading with reasonable stops and waiting times. I'm good in what I am and that is spotting developments early on.

Again it's better for me just to avoid ideas and concepts, I suck at trading them. Today was good advance in how I should be trading with that euro trade. It needs refinement and that's it. I don't need swing trading ideas.

I'm such slow learner in this trading stuff. However I'm learning. Very small steps with falling back on my ass daily.

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