Euro trade came because sudden move came as result of eur/jpy falling and going for break
127 level third time today. There was break but price wasn't falling so strong and when it stooped I hoped for snap back. So I went long eur/usd because of smaller spread. I was in little bounce positive and my internet connection brake and didn't want to reconnect. That didn't happen to me for a very long time, maybe years. So I restarted pc and it worked than, I logged on platform an I was like 8 pips positive.
I didn't get out but I was waiting. When there came b/e, and -11 points that I gain in previous trade I was just frozen. I couldn't get out. There was stop at -20 and I didn't move it but I wasn't able to get out sooner also. My reasons for the trade didn't work. There wasn't snap back on eur/jpy and here I was with trade opposite of the trend getting in bigger lose for me. Still I couldn't get out.
This discipline thing is going to be hard, I have such strong emotions in those moments that I just can't override. Only time and repetition can maybe "cure" me. I need to have stop in because when I froze it can take me out if I don't move it.
Bad thing today was that I changed my mind so quickly. Idea on chf and gbp was working after my exit. So that was also valid for eur so that bet with eur/jpy snap back wasn't so good.
I usually do that, when I exit prematurely I start to look for the trade in the opposite direction, but the trend just started, it's hard to go back in, hard to stay out and fullish to go opposite.
+24 pips
5 comments:
If I'm reading this right, you set a stop, the trade didn't work, you got stopped out with a small loss. Process A+, Capital preservation A+.
Well not exactly. I set a stop trade did work out and I had two profitable trades.
Second eur/usd trade I wanted to get out sooner than my max stop when it started falling on me but I froze up, it didn't touch stop, so I got out with a profit in the end. You can see it in the last chart.
I felt emotions, ugly ones, it will all be slow recovery.
"If I'm reading this right", grin, crack open the bubbly
Marcoa makes a point, we need to be recognized for our small achievements. Good for you. ;)
If you two like that than trades from next post are even better :)))
I put behind counting dollars and start hostage negotiations with my emotions.
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