Monday, June 16, 2008

Struggling

I started trading today but performance is far from spectacular. I had great swing trade idea in eur/jpy that went first -15 and when it got to b/e I made an exit at the time of scalp exit in eur/usd.

Than at afternoon I was so tempted to short strong eur/usd but I didn't after some news I went long. It was very slow on 10sec and I exit it and than later I shorted because it was slow and heavy. Short was going against me slowly but much in the end. I averaged and than I had to go and didn't want to leave position open so I closed and erased half of morning profit.

All in all poor. Fighting between swing trading and scalping. Entering swing and exit as a scalp. Getting out to soon without a reason in long eur/usd trade after the news, it wasn't even on b/e but at +2. Than missing that profit and shorting so strong uptrend without clear indication that it's over. Poor, poor. Not to mention that I can't recognize strong market when it's best just get in and leave trade open and let it with the flow. But when do I do that? Never.

The thing is probably that everything against the plan was bad today. So swing trade I should never initiate because I don't have staying power and can get burnt. Scalps in eur/usd in morning were ok. Trading at afternoon would be better to skip because I'm not fresh and my decisions are mediocre. +5 full size pips






2 comments:

4x For Life said...

Dude, DUDE please man I like your blog but I do NOT like watching you get your ass kicked day in day out.
You need a new plan man,Check my blog there is a link to a guy with the most simple method in the world.

FX said...

Thanks 4x but I like to struggle my way. It's just a choice. If I want to trade somebody else's system I would prefer to give them money to manage it, but I don't.