Monday, May 11, 2009


I've started to make ugly mistakes. I don't judge myself on mistakes made after first big one because they are reasonable because they are made on heighten emotions. I think that my biggest mistake is trading with too small size (again). So I didn't close my profitable trade and I let it go full length back against me. The thing is that I felt that it just isn't enough profit and I can't do that.
After it I averaged around the same price expecting to get out if it's not working immediately, well I didn't. After I had several occasions to close it in profit or b/e but I wanted bigger profit. Finally I close it in a loss of -12 full size pips. In next minute it fall back so I shorted again, now with full size, pure emotions desperate trade. I lost on that one also -14 pips.
Again, mistakes made on heighten emotions is something that I can't blame myself it's just as it is. But not closing position with 17 pips of profit because it's half size and that is less that 10 full size pips, even if I know that there is support around there is wrong. So I think that I should up my size and trade with full size or not trade at all if I can't stand the size.
-26 full size pips


more losses later, -83 full size pips total for a day



sorry to hear in man. thats a big hurtin'

FX said...

Thanks. Yes and no, I kind of like big finale to end streak of bad trading, not losses but bad trading. It gives me clean slate kind of feeling.

brian said...

I tried to scalp like you and lost a lot last year. So far this year I changed to swing trading with minor scalping and have done much better. I wait for an oversold or overbought condition on the daily and hourly charts and countertrade in smaller increments, and then only trade in that one direction. I typically hold a core trade for 1-5 days and scalp to better my cost basis on my small core position.

I guess what I'm suggesting is you try something different.

FX said...

Hi Brian, I have thoughts of that kind also. I'm looking at my trades especially the ones where I don't want to abandon losing position. It's not scalping, it's not swing trading, it's wishing.