Thursday, February 17, 2011

-16 pips

First trade was a bit naive. I jumped in after 20 pips spike in seconds and didn't bail out at the first sign of trouble. I had second chance but my mind was fixed on idea that it's a start of big move up. All my following trades were based on that premise. Small stops waiting for move up. It didn't happen. I want to note that many of my trades had initial profit marked with yellow. So it's again dilemma scalping or holding. When I hold it doesn't do me well. When I don't hold I can't believe how I could have great day just by holding one winning trade.
I somehow feel that I'm training. Why I train now after so many years I don't know. Like today I had many trades with such small stop loss set out, like 2-3 pips. I never done that before and it's interesting experience, never mind that I'm losing some money doing that. I lost before in much worst manner.
On second chart it's just trading out of boredom or wanting to get some excitement. Maybe this is real story of my trading. I really don't know, I'm just updating this blog with no real clues. One thing is obvious that trading in such small ranges of less then twenty pips is really unprofitable for me doing what I do. In the end with -33 half size pips I lose much more then I'm able to win on any day lately.

4 comments:

Gump said...

I wonder what the goal is of the day trading bloggers. Based on the way they trade it is not to make money. They trade for another reason. When that reason changes I believe their results will.

FX said...

I don't know Gump. I agree that results will change when reason does. I can't talk from those shoes because I'm far away from it. But look at forexbird and his results. He made his transition. What's your comment on him?

Gump said...

I'll check 'em out. Maybe an analysis of the differences between he and the bloggers still struggling would shed some light. I'm betting he trades very simply. I'm a daytrader but not a blogger. Perhaps they'll be more receptive from one of their own.

FX said...

Hey Gump there is interesting discussion based on your question at Jules's blog:
http://juzjules.blogspot.com/2011/02/yada-yada-yada.html