+190 pips
+12%
Childish trading continued this month. Results doesn't mean a thing when I swing -25% in a day. That can't be called trading.
Friday, February 27, 2009
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6 comments:
If you're +12% for the month I would call it trading. :)
Well if you're making profits trading like that maybe it works for you? However you could likely do even better than what you’re doing now if you corrected your emotions.
thats a great point stockhunter.
by the way, even though I recorded that news trading video I am still on a forex vacation. I just felt I had to get that bit of info out there. I am considering scaling the zone permanently to avoid total drawdown during any one day.
I am also thinking about ditching my volatility indicator and simply scaling to the most recent large correction...
lots of ideas, but I have GOT to limit this drawdown eh?
Yeah I got to put emotions in check. Because it's all it is that is making difficulties to me. I'm pretty much pissed off with my behavior last few months. It's like I have very tight nerve and fall over the edge very easily.
One day I trade ok. Second I trade ok, but make one or two questionable choices. Third day I'm on full tilt without good reason.
Orion, in a way you have limited your losses by stopping when you did. What I like to do is take my worst day within the last say 3 months, and use that for a stop. And if I am stopped for the day I will go and look to see if I did anything wrong, if I didn't I'll return to normal the next day. If I did I'll look back a week or more to see if it's a habit, and either correct it and trade the next day, or if it's really bad I'll paper-trade for awhile. Hope that helps with your daily stop limits.
I think what’s hurting you the most right now is the choppiness in the market. Like you'll set your zone and be jumping in and out all the time waiting for a real break, but never getting it. Or getting a small break then it heads right back the other way. Just an idea, I'm likely wrong though :P.
I agree with Sol! The other stuff is noise. Keep pressing man!
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