Monday, June 8, 2009

I don't know what I'm doing any more

Market action wasn't so surprising, but it just didn't want to go down. I lost all sense of proportion. It looks like I just don't care any more. I'm careless and just gamble. I don't even pay attention what is going on. My trading is just swinging between of emotions of joy when I'm winning and fear when I'm losing.
-124 pips


26 comments:

Syed Omar (Hilmy) said...

damn, i hate when that shit happens. It's one of those things we gotta deal with. Look over the trades and see if you can think of ideas to improve. keep chuggin..

FX said...

I think that after today longer pause will ensue. Today I hit myself enough, not so in financial sense, but in a sense that I just stop in a place. I can't trade any more, more exact, I don't want to.

www.fxmadness.com said...

Time for a break, longer than a day.

Mike said...

I'm disfunctional, too. Even screwed up signature in last post...

FX said...

Longer than a day.

ORION MACHINE said...

so sorry to hear this FX... very sorry... I have been doing better adopting a 2 or 3 loss a day limit and being done with things. in hindsight it has saved me LOTS of losses... Best to you man. I know what it feels like to NOT want to trade :))

I have uploaded a some new stuff with trader interviews. when you feel like listening go download them. they are my favorite trader interviews.

FX said...

Hi Orion, I was never before in situation like this where there exist real option of not trading any more as far as I'm concerned. I was probably looking for some kind of hit to take me out of the game because I couldn't do it consciously when things obviously were wrong for a long time.

ORION MACHINE said...

I have been there too. Never give up if it is your true goal when happy. Emotions are controlling, changing things. Be aware of that fact and let it pass like it must. Then, when neutral make a decision. easier said than done, like most things.

Jules said...

"I was probably looking for some kind of hit to take me out of the game because I couldn't do it consciously when things obviously were wrong for a long time."
Sounds familiar FX. I did that too. Just that it didn't really work on me (I'm a hopeless addict...). But I use a daily loss limit now (kind of like Orion Machine, but mine's an absolute dollar amount), and it's definitely made it easier on the heart. Hope you feel better after a break. Just don't inflict that kind of pain on yourself anymore.

FX said...

I'm using this situation to address my problems that are root of my difficulties in trading. I for sure miss trading but I know that I'm not changed and that all would be the same and I don't accept that any more.

This didn't affect me so emotionally with a pain, but I witnessed how I'm trading and I felt disgust. That was emotion that made me stop.

Anonymous said...

I've lost my equity 2x so far in past 10years. Betting everything and options expiring on me.

Now in FX I'm able to be more sucessfull by just taking a relatively small position for my total equity, then watching it. If I loose 10 or 20 pips I just watch it. I tell myself 20pips is no big deal. If it's acting right it will be fighting resistance and falling back down 10pips again. If I feel convinced when it moves another 20pips against me and hour later, I double my trade. Unless its news related.

Everytime till now the price has come back close to my 1st entry point where I'm happy to take profit from 2nd lot. It's always just couple of hundred $ but my expenses are small so I'm happy and not greedy.

You made mistake of taking to big leverage and being slave to your emotion. Go back to the small size system you had. Even if it's only 50$ a day you make that puts food on the table...

FX said...

Thanks on advice.

ORION MACHINE said...

Anonymous, glad for you. you speak simply and truthfully.

Fxchartist said...

So when you're gonna learn your lesson,FX??? You know it pretty well that average down don't work for you but how come you still keep trading that way???

FX said...

“Insanity: doing the same thing over and over again and expecting different results.”

Albert Einstein

gmargtrader said...

take the 15min chart not 5min - and you will be happy.

gmargtrader said...

http://2.bp.blogspot.com/_T5wnghH-UaM/Sj0EWr-UyXI/AAAAAAAABqU/oOSwRHWnQ7I/s1600-h/gbpusd_trading.jpg

make it with 15min TF, and practice it. If you know german, read "Das grosse Buch der Markttechnik" von Michael Voigt. He describe this and how the market internas in such situations are(high, low, higher low). If you have questions write me an email.

greetings

gmargtrader said...

forget bb indicator ... you are very near to success ;) really!

gmargtrader said...

here another example: is the german dax but you that is absolut not important which market or currency you trade.

http://1.bp.blogspot.com/_T5wnghH-UaM/Sj0JOtwL-7I/AAAAAAAABqc/u8Ysf58w_Ug/s1600-h/dax190609_3.jpg

green: entry
red: SL

gmargtrader said...

you see you have a small risk but a high reward - that is all what we need "CRV" ...

FX said...

Thanks gmargtrader on your contribution. Currently I have withdrawn all my energy from trading. I didn't open oanda or metatrader almost two weeks now. I didn't think much about of trading either.

thelonelytrader said...

FX, maybe it is time to finally ignore all this advice and the videos and the blah-blah-blah that is freely heeped on you but obviously not helping...

...and learn to position trade.

Don't give up.

FX said...

Thanks lonely

Syed Omar (Hilmy) said...

hey fx

let's come back togetehr. I feel the way you feel after my horrendous lost recently. Let's come back and take a shot together. one piece at a time

FX said...

There is no point to come back if nothing has changed.

ORION MACHINE said...

You are Right FX, I am glad you see this. Can everyone just be patient? this man is on his own schedule!

When you do get a chance and FEEL like it, make sure you download and watch that mark douglas interview, it may make you feel better.