Saturday, December 25, 2010

December 2010. and year end results

I had busy December at my work so I couldn't trade at all. I didn't even open my charts.

For December
+6 pips


This year I made many subtractions from account as I promised myself last year. Total loss when everything is taken in account is -17%. In term of pips it's about -100 pips of a size that I use lately. So it's not that much but nevertheless it's a loss. I'm yet waiting for profitable year. It's a sad notion for now seven year trading career, although first three years before this blog were mainly trying out things with really nothing on the line in terms of risk.
Like Harvey says looking for consistency is now the main thing. So from that is coming the willpower to continue something like this that looks like losing proposition. Even though losing days hurt much more then we feel good on winning days, winning days give us hope that one day our p&l will be as good as of The forexbird.

This year I had experience of doubling my account from the low point around Spring. So now I know that it can be done with regular effort and not something special. At second half of the year which wasn't so good I pressed myself to trade with bigger positions to break out from range of comfort zone I had before. Also by trading full margin most of the time I wasn't able to average down which was my mountain high weakness before. With that I wish to continue in the future because if I give myself opportunity to average down, soon I will.

To all my readers I wish Merry Christmas and Happy New Year with peace in the mind and love in the hearth.

Tuesday, December 7, 2010

- 19 pips

Things simply didn't work out for me. I didn't understand today's market. It's not an excuse but spread is whole day above 1 pip and not usual 0.9 and that means holiday market conditions already.

Monday, December 6, 2010

+ 12 pips

It looks like it was nice trading with only one loss. But it's not so nice. On that losing trade I lost all profits gained so far and was in red on other half plus I opened that trade again at the bottom. It could go down from that point easily and I was emotionally unstable for good decisions. First of all I didn't cut that loss when it went against me on two half size trades but left it for twenty pips against me.
I wasn't in great mood today

Thursday, December 2, 2010

+ 8 pips

I took my bite and don't care what will market do next. I'm not concerned about is there more potential, could my profit be bigger. I waited long for my trade, executed it and took profit that pleases me. That is all that should matter in any trade. I'm not paid to trade perfect. I shouldn't worry about missed profits, missed trades and various market movements on numerous time frames. Less I trade, less I'm exposed to emotional roller coaster.

Half size trade

Wednesday, December 1, 2010

+ 5 pips

Around half size trades. Didn't want to stick longer in front of charts, just to book this little win while I have it. Good for moral. :)