Tuesday, May 17, 2011

Truly bad trading

Maybe sometimes I know how to scalp, but I'm not immune to this kind of days, they are regular occurrences. When you add those two together I'm heavy net negative. I can add that something personal was bothering me today, but then I shouldn't trade in first place.
-121 pips

8 comments:

Attitude Trader said...

When you feel like you need to trade everyday, like it's your job, then it's hard to NOT trade, even if something's bothering you and you know you shouldn't.

But this is just one day, and part of the business.

Get your mind straight, make sure you have the right attitude, and come back to it tomorrow.

-AT

Soma said...

I can't tell for sure but it looks like you're trying to call the tops and bottoms at times. Is that correct? If so, why not trade only the breakouts instead? Imo, the US and Euro sessions are the hardest to fade and easiest to trade breakouts.

Chaos Theory Trading said...

Today was an insane day, I also found it incredibly hard to trade well. Couldnt get into a rhythm and I guess something similar happened to you. Tommorrow is a new day, we can only come back with a fresh mind and fresh atitude - your strategy has worked in the past, no reason why it wont work tmr . . .

Julia Clara said...

For me was completely the opposite of you was a really good day.
But yesterday was a day that I was with other problems to solve than was not really good to trade.
Is hard not to trade wehn you are full time on it, but you need kind of have a feeling if you are not well, you not going to be concentrated on your trades is better stay way of the market.

bye

FX said...

Thank you all for your comments.

@Soma Sometimes I do but I don't see that as a problem but big swings in losses and refusing to quit when it's appropriate.
That's generally what can be called bad discipline.

This journal is filled with various blow up days. Maybe it's learning maybe it will be forever like that.

Alchi said...

Hey Fx
Don't you use hard stops ?
No daily limit ?

FX said...

Alchi that's a very good question. Yes I do use them, at least in theory. Then come day like this one when I scrap all that and start gambling or purely emotional trading. Hard stops are set at -6pips + spread and daily limit is -25 pips. I sometimes wish I have someone near me with stick to beat me up when I go this path. I know that's not good even when I'm doing this. Compulsive behaviors of any kind are hard to explain. I can quit or learn how to overcome that.

Alchi said...

Fx,

I know this lol, tilt day. i have -6 stop also and -20 for daily.
May be a ritual with check list before starting could help.
Be strong :-)