Friday, May 8, 2009
Frog in boiling water
I for sure know how to get carried away. Now I'm trading 1:40 leverage like every day. For me it's especially hard to throw down the towel when market is slow and I wouldn't like to take other side, when it looks like it will turn any moment. I'm like frog in slowly boiling water as the legend says. It's so slow going against me and I would get cooked before I jump out. When turn finally comes I can't stand retracements once I'm in the profit. I can't say I like it all but it's how it is right now. Numbers are 1/2 size, average 1/2 size plus one more average with full size from subaccount. In the end +10 full size pips.
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5 comments:
Wow man, I am surprised you did not wait until NFP. What happened to only enough in the account for 1 position?
I wouldn't wait for NFP anyway but I would stay in position if it started to go up with more force. It stalled and I was afraid of going back to loss. But anyway, that is not good trading today. About that rule of only enough for 1 position, good that it lasted as much as it did. I have cyclical behavior and got to accept that. Don't know why I force so much because everything would be fine if I have monthly profit in the range of profit I had this week.
when you fear price reversing and you are in profit, take partial and set the stop to break even. that might help you feel better that you've got some in the bag and nothing to risk really.
I agree with orion
I understand what you are telling me but I never liked to take partial profits, and don't like it now either so I don't know will I use it in the future.
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