Tuesday, June 10, 2008

I've lost it

As you all can probably see my trading started to slide down. Well today I hit hard so I finally got reality check. Friday loss wasn't enough for me. Yesterday I was just lucky. Today I started scalping but I averaged losses just not to lose and didn't want to face reality that it's going one way. Just typical gambling behavior. I covered at some point at -4 but it wasn't enough. So I started to trade loser way again and lost total of about -40 full size pips.
Now I cut the size so it will be even more to go back. I will also make a break and try to found what's missing.

It wasn't especially tricky market. I was just stubborn and overwhelmed with emotions. If I was sane and scalping everything would be fine, but I wasn't. It's not something new to me but it's always hard to prevent it on time. Well for certain I would lose much more from this point on if I don't face the problem.
I'll show the charts but I don't have the mood to point the sizes and trades.




7 comments:

HPT said...

Happened to me yesterday. I STILL need to work on my trading. I bought near the bottom yesterday for a good scalp, and let a $300-600 easy trade turn into $180, all from fucking shit up with the placement of my stops. Then I went into the red after that from adding to a loser. I'm a master of procrastinating, but I need to get my ass to work on my SET in STone trading plan. Most of my fuck-ups come from not being prepared. If I just traded full time and got 8 hours of sleep I would probably kick ass, but I got a lot of shit on my plate with working 40hrs a week and other stuff. I always liked your comments when I had my blowup days. Just get your shit together and make dam sure you are prepared for the trading day, I mean really plan the day out, and use the right trading SIZE. It's something I've done a few times and have had good results from.

FX said...

Thanks man I really appreciate comment from you because I know that you understand me in situation like this.

4x For Life said...

We all have days like this dude, and you must take the beating with the wins. As long as the wins out pace the losses. Hang in there bro

FX said...

Thanks 4x on support. Not so big loss but it sure did mess my mind.

ORION MACHINE said...

Bro, I got my ass kicked that day too, I did not even want to log on after that shit. I lost about 40 pips... All from this shitty ass volatility!!! I was really depressed, but you know what? I realized that would only make my trading more shitty. So I gave it a rest. Came back the next day. Made one loser and gave up for the day. Then today, i got 12 pips. I am trying to adapt to this gay ass market. You know, I even had a trade today (news) go instanly 30 pips in my favor, I set my stop to break even and guess what... lost all my gain. Trading has been really hard this week, but staying positive and with the plan is key. YOU WILL SUCCEED, do not EVER give up. I literally had that sinking feeling in my chest. I had to have a beer and a nap to make it go away. Its not always pretty in the trenches my friend. Sorry I didn't respond sooner.

FX said...

Glad to hear from you Orion. From that day I'm totally on break from markets. It's not problem in a loss but in a way it happen. I was doing bad things and didn't want to stop. Good trading ideas didn't cross my mind. I'm little afraid of myself not the market. So now I'm totally out. I don't want to think about trading nor trade. Maybe I'm just fed up and need real break. We will see. For now I check charts just of curiosity and read blogs. It looks to me that my motivation for trading was hit the most, or this loss pointed to problem. I don't know much about all of this just that I don't want to trade for some time now.

Regarding your missed profits when you put trade on b/e. For me that's disturbing when it happen and make more damage than potential profit would make reward. So I just want to skip that stay with scalping and be happy with booking a profit. For me brake came when I put away mixing of trading strategies. If I'm scalping than I'm not swing trading.

ORION MACHINE said...

I understand what you are saying. Hell I was thinking about just staying the hell out of this market myself man. Take a break and get your mind off of it if that is what your instincts tell you. Talk to you later my friend.