Monday, June 30, 2008

June 2008. results

Remember back in April I posted in my results section chart of my last 28 weeks of trading after big loss. It's been a 12 weeks since than and it's time for another chart.
So from low of -436 pips I managed to slowly build my profits to recent high of -90 pips. I got back in the middle of the range and now I'm stuck.



For me it's apparently all in psychology. I had a goal of getting back and I accomplished that. Best thing is that I found the most profitable way for me to trade. That's scalping.
Now without strong personal goal I'm drifting down. Let's call that cooling of and establishing a healthy base in my performance chart.


This month I'm down

- 43 pips
- 1.6 %

I was up at first and had my size back to previous levels, but when I started to lose again and fall beneath of opening for the month I again cut my size down.
I don't know how will I trade next month. For now I'm planing to go day by day. I'm fully aware of bad psychological setup when I have it. So, I will try to minimize that. I like to trade, I like to follow markets intraday. It's my passion. Like I said the other day in comment section I can see progress in my trading through time. If I'm now in break even part of trading education so be it. I was constantly losing before, slow and small, but losing. I go with the trend now, I try to trade break out it the right direction. Before I was all in fading and going against the trend. I still average down a lot but to defend myself on that ground I got to say that averaging always come after bad trade with bad intentions in the first place. Idea that I could pick the spot for home run out of the blue is so lame and really costly. I could maybe stay longer in the trade if it starts as nice scalp and I than leave it on protecting scalping part of profit with stop. I didn't have any such trades yet.

I learned that the most important thing in learning to trade is consider what is the most suitable style of trading for you as a person. Maybe it's different when you start with help and mentor from the start. Maybe mentoring could model you in any suitable way. I'm self thought in this trading business and I'm little inclined now to short term trading and extra short holding times. That thing developed over the years and now it's all I know. I remember I had small winner in aud/usd few years ago holding for few days and it was phenomenal. I couldn't believe how it was going up and every day up more. I would for certain like to be able to hold my winners long but right now when I dabble in that direction looking for swings I mess up all my trading.
Last few weeks I'm little slow in cutting my losses, it takes me in bad direction and bigger losses.

1 comment:

ORION MACHINE said...

one of the reasons that Aud/USD trade may hve kept going up is because of interest attracting people into the currency for Carry trades. Good luck next month.