Wednesday, May 5, 2010

If it isn't tragic it would be comic

I don't know what's there in human psychology to play out like this. Inability to just follow the price on a day like this is crazy. As you can see my first trade was in good direction but I closed it after 3 pips or so. Then I somehow started to chase opposite direction in eur/jpy. Crazy 100%. When I'm in to it there isn't easy out.
I'm glad and it is mini victory that I didn't go for break even but I settled for reasonable loss. Minutes before I was 120-130 pips in red for a day with 60 lost in first set and too early entry in second.
I experienced all of this before, it's nothing new but it always surprise me. I'm talking about my actions, fighting strongest trend and just making open loss larger by not closing the trades. Why am I not closing them? Because loss is too big, and by that I'm getting loss even bigger.
It's a shame that I didn't make money today. I don't feel anger just a slim hope to lose this kind of behavior in a following occasions.

-26 pips

I believe that it all can be summarized in not following my own trading structure. I forget that I'm scalping and I look too much for what is going on at the bigger time frames. Maybe I even abandon scalping because I expect to make much more with other ways of trading. It's just my mind playing tricks on me. It's like I feel I'm not supposed to scalp at all and that trading is in big swings. Especially in volatile market with big swings scalping is like something inferior. So I start to think and second guess a lot because "it can't be that easy" and just follow the price.

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