Mistakes

I've started to make ugly mistakes. I don't judge myself on mistakes made after first big one because they are reasonable because they are made on heighten emotions. I think that my biggest mistake is trading with too small size (again). So I didn't close my profitable trade and I let it go full length back against me. The thing is that I felt that it just isn't enough profit and I can't do that.
After it I averaged around the same price expecting to get out if it's not working immediately, well I didn't. After I had several occasions to close it in profit or b/e but I wanted bigger profit. Finally I close it in a loss of -12 full size pips. In next minute it fall back so I shorted again, now with full size, pure emotions desperate trade. I lost on that one also -14 pips.
Again, mistakes made on heighten emotions is something that I can't blame myself it's just as it is. But not closing position with 17 pips of profit because it's half size and that is less that 10 full size pips, even if I know that there is support around there is wrong. So I think that I should up my size and trade with full size or not trade at all if I can't stand the size.
-26 full size pips

update

more losses later, -83 full size pips total for a day

Frog in boiling water

I for sure know how to get carried away. Now I'm trading 1:40 leverage like every day. For me it's especially hard to throw down the towel when market is slow and I wouldn't like to take other side, when it looks like it will turn any moment. I'm like frog in slowly boiling water as the legend says. It's so slow going against me and I would get cooked before I jump out. When turn finally comes I can't stand retracements once I'm in the profit. I can't say I like it all but it's how it is right now. Numbers are 1/2 size, average 1/2 size plus one more average with full size from subaccount. In the end +10 full size pips.

Bad edition of me

First of all I don't know why did I short eur/usd. Maybe I didn't like idea that I didn't catch that preceding uptrend and I was watching it. So now I was forcing the trade. I didn't see any reason that it's going down it was just my idea that selling could start. After I add another short in eur/jpy from that point it was usual averaging autopilot.
Interesting thing is when I start bad because of wrong reasons I'm much more open to trade really bad. When I see something and trade it and it goes against me it's easier to take a loss. But when I trade from some random idea that I want to happen then if it's not working I for certain will not take loss when I should take.
Eur/usd was with 1/2 size, first two eur/jpy with 1/3 and third 2/3. Max open loss was bigger then -50 full size pips.
Only bright spot was that I was looking eur/jpy to break down and had target of 132 so I wanted to make something in this mess not just take b/e, when it didn't at critical moment I got out.
-3 full size pips

Breaking to new high

Few interesting things to say. My first trade was a mistake, you see that I gain few pips on it but I miss clicked, I wanted to short there. Well what can I say, I didn't believe that gbp/usd will break to the new high. I usually don't believe in such situations, some contrarian bias in me. Well at least I'm not stubborn as I was years ago, so when it did brake important daily high I was in long to ride the breakout momentum. It was pretty much usual how it was moving until it broke 5100 mark. That 5100 was resistance and it wasn't so easy to go through it, but when it finally capitulate I was expecting real surge up. It didn't happen, for me that meant that it's not only figure resistance there but some real selling that is going against buyers. That's why I closed my longs. I'm trading micro time frame and I can't stay in big retracements how ever powerful underling trend is.
Other interesting thing is that now when I have won and gained some nice profit for my kind of trading I enter in a state where I don't want to lose any of it. Well then it's pretty dangerous to trade from that point. If I enter some trade and somehow it turns against me I will not exit. I will not let any of my profits. That way I could start averaging, moving stops whatever, just to keep things as they are never mind what is going on in unrealised p&l at that moment. So it doesn't matter are there some nice opportunities in the market, better for me to call it a day from a risk standpoint. It really doesn't matter how much did I earn in profit is it 5 or 25 pips, when I hit state that I'm not willing to risk just stop trading.
Gbp/usd trades were with 1/3 of size, +13 full size pips.

Nice gain

Second entry didn't work out in the start but market wasn't showing any real strength so I kept them both. I had on few occasions about 10 pips for joined position and it was bouncing up and down in the range. I decided let's work a little on holding winning trades. At the time of exit there wasn't some big reason for it but risk reward wasn't any more on my side. Before there was at risk around 10 pips of this 2/3 of full size position and now I gained like 30 more. Any retracement could take 20 easily off and I didn't see short term reward for it, as it happened later. Also this is healthy gain for me and now I'm thinking of backing off for a day in a spirit of focus on monthly plan. Trades were with 1/3 size in the end +24 full size pips.

April 2009. results

-10 pips
-1.7 %


I was never positive in this month. From the start I flew in -100 pips drawdown and then I climbed back to -10 full size pips where I ended.