Friday, March 11, 2011

-37 pips

Interesting day. First one idea in eur/usd in which I risked a little and it just didn't work as I thought. Never mind -3 full size pips. BUT after it I started fighting market for no reason other than my first trade was losing one also going long and market was now falling down. So I lost -13 full size pips more for acting stupid. Being contrarian and fighting trend. That is problem for me executing ideas that are not momentum related, who knows what impact will their outcome have on me for my further trading.
So now pretty much emotionally destabilized I switch to eur/jpy because there things are flying, so I will cover my losses more quick. Off course I stay in contrarian mode and fight against meltdown.

In no time, exactly 9 minutes I lost -48 full size pips. !!!!
I switched to full size, when losses started to get big. It looks like that's for me better, when I'm in half size I let those losers go deeper against me. At full size I cut it more quickly.

Somewhere in that battle I figured I need to follow market and not go against be it long or short. Very nice to realize that when I'm more then sixty pips in red. From that point I enjoyed trading. I was picking tops and bottoms, really immersed in it. I made terrible mistake of cutting myself out of the trade that could became big win. I entered expecting turn, it happened, I was patient for ten minutes, then I exit it minute before move continued. Situations like that bring exactly what followed and that is I wanted to make another trade but now in opposite direction. I was impatient, didn't wait for right situation, so I don't miss again. So two longs followed that were stopped and I was back at beginning. I couldn't enter at the spike turn because I had problems with the platform. In the end that last trade, I cut it too soon also but I don't mind it. I had to go and wanted to lower my loss for a day.

What can I say at the end. I wish that I'm better trader so I turn opportunities in successes. I'm sad that I traded so badly at the start fighting trend, I don't have excuse for that. First two trades in eur/jpy are criminal. I don't know why I'm doing things like that still, will I do it for a whole life? I must say that I really enjoyed experience even if it was costly for me. Milking moves in right direction felt really, really good. I guess that's the main reason why I still trade, that feeling when you are rewarded for doing something good.

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