Friday, September 19, 2008

Flip coin market

On some trades lately I get out very quickly if it's not going my way, but when I stuck in losing position I don't want to take a loss or small loss. That thing got it's price so if I'm willing to pay than ok. Good thing today I think was that I didn't want to take b/e price, so I got paid if it goes in my direction in the end. Well after hour it did come my way. I took profit too early but good thing that I didn't take it even more early.




How did you feel when you added to that last trade and it had went past your maximum 20 pips? And why didn't you close it out?

FX said...

Well I didn't add, I had two shorts closed and than last long trade for hour. That long gave me profit, it didn't pass max of 20.
True is that I would probably hold it if it was, because my primary idea was to not have more than 10 pips loss on that trade and I did.

I'm now in phase where I accept my wrongdoing, I understand that it have a price. If I have to average than ok, I will lose sometimes big, but let's not lose my head than.
Being unnaturally strict can't get me results. Good trading should come on surface from within I can't impose it. If I'm not on that level yet than ok. I'm prepared to make costly mistakes until it became my second nature.


As long as you are prepared and that is what you have determined than thats fine with me.

Sorry for the mistake in understanding the trades, I thought the chart was showing something different.