Wednesday, January 14, 2009

Dark side

I really don't understand what do I want. I had 20 pips profit immediately after my first trade. I didn't take them. What do I want? 50? How come that 20 pips isn't enough? How come that I strained from scalping path looking for who knows what?

Than when finally market changed from long to short I close my position around b/e for a day. Than I went long and bring myself new pain. Addition to that I start to bottom fishing in gbp. Just crazy.

Also market is totally strange for me. Some new movements. I'm totally out of sync with good trading behavior and market is hard to trade.

+5 full size pips




7 comments:

ORION MACHINE said...

Those are good questions to ask yourself, but I would say other than not taking the profit while it was there... you did a good job. I think the lack of trading over the break may have done something to us? This is not the market I wanted to come back to, but just remember, the benefit of the FX markets (especially with Oanda) is that we can scale risk to current price action.

Well get through it.

FX said...

I think that I'm showing reluctance to take a loss. I'm avoiding losses, that can't be good. Than I drain myself emotionally staying in losing trade. I guess that I didn't master that part of trading. I remember I was better last year, but now I'm at bottom of my performance regarding that.

Second thing market is so so choppy and wild. It reversed on me 50 pips in less than 5 minutes two times and than stayed indefinitely in some kind of range. It's weird. I feel like new year didn't start yet, but we have some prolonged holiday market.

ORION MACHINE said...

My thoughts exactly. Just remember, we are as traders and as people, either growing or shrinking in every aspect. Maybe just for the hell of it, you should demo just for the sake of taking losses... get back into the nature of it...

4x For Life said...

damn orion i swear we think a like i was going to say the same thing. FX i keep 2 account 1 live and 1 demo to tweak my trades all the time. I saw an interview of someone who has traded for 30 years and he said I am a student of the markets now for 30 years. Hence as trading grows more volatile so must your trading.

StockHunter said...

I was wondering when the forex market would go choppy, the stock market has been like that for some time now. What I've been doing this week is only trading the mornings (the 1st 2.5 hours after market open), because I found that I do ok in the morning but as the day goes on I eat away at my profits.

FX said...

Hi Stockhunter I've been reading your blog and you lately find nice winners. It's choppy and disoriented.

StockHunter said...

Thanks! :D Hopefully this choppiness will go away soon.