Monday, June 28, 2010

Monday

It would be more beneficial for me to trade all leveraged up to the max then to get stuck in averaging position which I don't want to close. When I average I hope, when I can't average I can't hope so I deal with reality. Anyway bad trading today. Bad market in which it isn't easy to trade. Slightly relieved because I trimmed my -100 pips loss, but it was just luck.

-25 pips




4 comments:

De'Trader said...

Hi FX,

Did you prefer -100 then coming back to -25 to cut loss or cut loss early on -25 before it went to -100?

Same result, different pain :)

Risk Control Master said...

agree, but we always hope -25 will be +25...

FX said...

RCM put it nicely.

But I must admit that I have one nasty habit and that is leave position on even when I stop believing that it would get back. At least last 15 pips of that averaging trade was in that mode. I capitulate, doesn't believe it will return but keep it anyway.

My averaging is only bad when I leave it on in that pure lottery ticket mode.

De'Trader said...

Yes,
Cut loss early sometimes more paiful too. I used to loss 25 ticks while market range only 15ticks.