Wednesday, June 2, 2010

Loss

As expected my high point was very brief. After wining trade in eur/jpy I stuck in gbp/usd. I was stiff, couldn't trade properly. Size added pressure and in reality I broke under it.

I don't have any conclusion about it all. If it didn't happen today it would in following days. Well I trade on the edge like every other day, add bigger size and I'm over the edge. In reality nothing new but typical and expected.

Usually after event like this I say to myself go back to scalping. Usually it correct things. Will see. Funny thing is that I never really leave scalping, but in my mind I quit thinking correctly.

-112 pips



4 comments:

De'Trader said...

Hi FX,

Have you ever regret after you cut loss the market went your way dozens of time? I used to be like that. Now, I don't even care about it. My only regret was when my SL wasn't taken out. I used Stop Limit so it's probably happened.

Risk Control Master said...

DE: But it's also hard to set stop correctly, they get hit within 1 or 2 pips. Well, I think it's still better compare to without stop, you won't get hit often but if it hit, the account is gone.

Anyway, FX, go back to what works for you and you will be recovered.

FX said...

DE, it probably is that I regret it and because of that avoid taking sl. But sometimes I trade simply bad and other times o.k. there is not much difference but how are things set up in my head.
So it probably will be just as RCM says, that I go back to what works for me.

There is no other explanation for today but the fact of new size that brings new mind set. I'm already thinking in direction of how to correct it. So my mind set can be same as before while my size is different. We will see how it goes.

De'Trader said...

I agree. Maybe because 20ticks SL for me is like more than 1% of my account. I absolutely goes to 100 pips SL if it's worth less than 1% of my account