Thursday, April 17, 2008

Sitting in profit is most exhausting experience

I had nice fade trade because market didn't look strong so I figured that there will be no enough force from buyers to go through 6000 resistance. I had gain and it was awful feeling. Thinking will it come back or it will fall further. Averaging and risking big losses is far more emotionally easier for me than sitting in gain. I feel attached to open profits so much, much more than amount that I risk in the first place when I open the trade. I got totally emotionally exhausted in area that I encircle on 10sec chart.
I was looking for 5900 as target. In the end when I made exit it looked to me that it's 50:50 probability of falling down and coming back up so I took 40 half size pips; +20 pips



Where do you live? I notice it is 11 in the morning and its like 7 where I am. I was short and that huge move down made me profits. I am basically scalping and fading like you do. I am currently long with a take profit at 1.6000.. well see what happens

FX said...

Central Europe

I didn't trade after this trade today. I get exhausted fast :)