Thursday, January 27, 2011

- 6 pips Theater mode trading

I can't describe how all those stops at the beginning hurt. It was like some blade going through my chest, no wonder that I try to avoid that at all cost. Marked yellow at the bottom chart are places where market changed direction. It was almost impossible to make profit in opposite direction. There are not so many places to go in direction of market, at least I don't find them easy to enter. So it's more of swing trading market, just hold. But I'm not good at that either. On two trades I moved stops, they didn't get hit. At 10:30 trade I bailed out for no reason and then fight up direction with no luck. I don't know what to think about all this. It's like some kind of theater. It amuse me but it's far from business. Worst point I was at -38 half size pips finishing at -12.
It would be probably different if at first I could close those trades manually when it wasn't going down anymore. By letting full stops and entering again and again I was just emotional. But I can't say that this isn't different then moving stop and letting stop run, or averaging down. It's marginally better. The thing is if you are emotional, stubborn, want to be right then you will get hurt anyway. This is just trying to minimize the damage with those small stops. The real job is getting less egotistical.

No comments: