It started as gambling. I came home and when I saw action I wanted to trade. No thinking, no nothing. It sometimes get's me like this and I don't like it because I usually lose. Well first I did today. I lose quickly and got bit lucky with the pullback, so I got out on better price for a loss. I broke my -40 pips rule, but didn't average or went mad. Just there was previous low on 1min chart and it was foolish to get out at -40 with low not violated. So I stayed. I stayed as long as price was going back up. When it broke uptrend on 10sec chart I took a loss of -20.
All trades were with half size.
Than I decided to go in direction of the trend counting this as pullback and now resumption of a trend. It really did fall and I got in profit. It was tempting to just take 20 and have break even gambling day. But I stayed with the trade and I got out probably because profit of 50 pips was really good and I wanted to book it.
Whole time today my eyes were on dow jones and s&p chart to guide me.
Than I wanted more, and got short because bounce from the lows after second trade was so quick and bigger in currencies than equities. It was too early, I even went negative on the day losing more than 30 pips on that trade at some point. Fall resumed I stay with it and got another winner. Than everywhere price just refused to fall more and it was time for long direction. Winning side didn't pick up quickly and it was hard holding that trade hoovering at 10 pips profit that could evaporate. I wanted several times to take 10-20 pips but I decided that now when I have nice winners so far I can stay with this and risk that small profit. Well that was nice winner also and when 10 sec chart start rolling I got out.
Now I don't care where it will go. I'm tired and don't have concentration for more trades. I'm totally surprised with my trading. That I pushed so hard for profit, I can't believe that. It's so not me. Well the first part is me, where I got in just for the sake of action, but after it, it's mental shift. I never stay to take that big profit, I was milking last two trades as best as I could. I didn't lost my composure with open losses, or booked loss. I didn't panic with big loss nor big gain. I'm pleasantly surprised. Also I don't remember when I had that much profit in a day, it was more than 100 half size pips. It's 60 full size pips, crazy for my usual scalping of 10 pips.
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10 comments:
Yes some of it was luck, but most of it was a different choice this time. The old you would have been on the losing side of that trade wouldn't he have? A word of caution to you though, don't expect the market to move enough to get you this much over and over, take what you can but make your winners bigger. It was hard for me to get out with my 2.3% today and watch prices continue upward without me, but I have to stay consistent. Its the only way my system will work over time, consistent small profits. Great trading bro!
Yes man until today I was never anyone but "old me", and I would always lose big on trading like this, or miss profits and get out at b/e.
I really didn't expected that big profit I just stayed as long as chart look promising on 1min and 10sec chart. It was fast day with extreme moves and range.
I care today much more on difference in my trading, than accomplished profit. First I dropped averaging and now this, trading with correct choices.
Well this blog and persistence and all of you have helped me. I don't think now that there will be no hard times, but when I get good day and good trading, different trading, I have to celebrate.
Congrats! Keep up the good work!
Thanks!!
:)))
yes celebrate well!
I'm impressed by the switch, even if is just for today. It's good to see the action from a different perspective.
Yeah, I'm surprised with a switch. It's like one of those things that you wonder later are you dreaming. Even if it's only for today it was quite a experience. I'm still getting down from it.
Don't get too attached to this correlation betweem USD and stock market, especially on very short term swings. This is one of relationships that doesn't last very long. It has been going on already for number of weeks and will end gradually probably fairly soon. Kind of like oil and CAD. They move in tandem for a while then it ends for weeks or months. But while it lasts take advantage of it. Just be aware it is not a viable long term trading strategy.
Mike you are right Mike, I believe that also.
I have to agree with Mike, FX. I'm just waiting to see when this relationship ends and a new one starts. When in doubt, always go back to our good old charts.
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