Monday, November 2, 2009

I overstayed my welcome

With new month size of my position is up again. It's three times September size. So you can see how in the start I was careful, extra careful. Well market was behaving in a way that 4 pips were most I could capture. As the time passed after few trades my concentration drifted away. The best example is second eur/usd trade where I took just 1 pip. Thirty seconds later I jumped in gbp/usd at the high and I was awaken when I lost all my profits so far. Bad trade, bad mental state in a fifth trade of a day, first losing one. Now bigger size was in my mind again making me reluctant to close this down. I was betting on profits and more. I could close it at the break even two minutes later but I didn't. Twenty minutes passed by with me waiting in a loss. I was lucky, trade finally gave me profit and I was happy to close it.

+18 pips


Mike K. said...

Congrats on a very good October. Good way to go with size increase- trading at one level for a while, when comfortable bump it again. You are on the right track. Keep it up!

FX said...

Thanks Mike. Yeah I need to gradually take my size up and get used to trading on real money (for me) levels. It's as important as trading good and profitable, to be able to trade serious size so profits really mean something.