Thursday, April 2, 2009

Cycle

Another cycle is over. I've undone everything good that I made in it. Back at starting point. It happened many times already. Last year good faze would last for a month and now it was two weeks. One day of aimless and random trading. Things stopped working few trading days ago and now it's sealed.
As before I believe that it has nothing to do with trading. I can trade good and I can trade bad. After good start, good work I start looking just for money in my mind. I stop with work and basically trade randomly. If it goes my way good, if not I wait and lose too much. That is not so easy to mend because it's problem in personal beliefs system. Working with beliefs in any aspect of life is hard and slow.
New beginnings bring nothing new if everything stayed the same in my mind. Pendulum just swings back. That's what happened to today. How much you try to push it one one side it will come back as hard and you can't do anything about it. Only solution obviously is beliefs change, easier said than done.
-66 full size pips




9 comments:

jekadril said...

look at it from the bright side, last year you would have stayed longer in the trade and loused much more.

FX said...

That is true.

4x For Life said...

I swear dude try the daily's, Just not tomorrow.NFP

Fxchartist said...

Sorry for your losses but you did a mistake by trading Gbp/Jpy. Do you ask yourself why you'd pay at least 5 points just to open the trade?

FX said...

It was 1/3 of size so I was looking for bigger move so that's why I didn't mind the spread. Mistake for sure was all of it because that was impulsive trading just to cover previous losses. I "wanted" retracement and wasn't in good zone for trading. When I'm in that recovery mode I don't look what is probable.

btw. nice blog you have and nice profits last few months. I added you to my feed reader, will add to blog also.

thelonelytrader said...

FX, have you tried moving up a few time frames? There is an old axiom -- learn to become a position trader first. Anyway, just a thought.

FX said...

Hi Lonely nice to see you here. I've never traded anything but 1min t/f. Maybe I should do something in time department, at least I couldn't be so emotional and destruct so fast.

Lord Tedders said...

FX,

Another option would be to utilize higher timeframes for your trade ideas and only move down to the 1 min for execution. Just a thought.

LT

FX said...

Thanks LT