Monday, January 26, 2009

1R

I'm glad that I got exactly 1R on this trade. I don't remember when did I last time see green dot on my screen. It means that I was waiting until the target was hit. It was tempting to get out before it. I was thinking "what if it comes back and you are just 5 pips until the target". If it was the other side I'm sure I wouldn't get out 5 pips before stop is met. I would want then to move it for 5 pips. Well I got to commit to trading as correct as I can. Trade was about 1/3 of full size with 30 pips R.
I was thinking about some changes that I want to implement. First of all I will cut down my goals. They will be on small enough level 5R/month so I can take all the stops and still be able to meet my target. This 5R/month if I succeed, with elevating position size from month to month, will be good enough for yearly goal that I'm happy with. If I isolate my blow up/avoiding stop problems on trading related stuff thing is in too big goal. I wanted so much profit that I couldn't get it if I take the stops. Pure greed and frustration. If I take myself back to the ground I can agree that 5R would be enough and that I don't need to go for the moon. To put things in relation to before 5R will be as 50 full size pips before. There absolutely isn't guarantee how will my trading go with this new setup but that is step that I'm willing to take.
Also I will stop talking about full size, half size from next month and I will put initial R amounts for each trade, winner or loser.
+10 full size pips



4 comments:

StockHunter said...

Nice!

ORION MACHINE said...

Bro, excellent! nice job putting your target on the trend line.

FX said...

Thanks

Mike said...

Very good! Back in the saddle, with a plan.