Hey guys, just a quick update of my trading day today. It was pretty interesting so I thought that I would share. My frustration started yesterday when I was stopped out of two swing trades due to some news concerning the Aussi. This morning I entered a trade with a profit target of about 70pips and a stop/loss of about 30. While watching the chart tick-by-tick I noticed that I made a good call and almost instantly I was up about 30pips.  To make a long story short it looked as if the trade was going to reverse at the 38.2 Fib and go back against me so I pulled the trigger and cashed out. As soon as I did that (honest to God) I yelled at myself fro getting emotional and breaking my rules. A few minutes later the pair shot up and would have easily hit my original target of 70pips.  So that trade added to my frustration.  

Later in the day I had another small loss that didn't bother me to much, but what did bother me was when I got three trading signals at the same time. Because I was already frustrated I wasn't particularly excited about entering these trades, but I decided to follow my plan.  The first of the three lost in about five minutes and I just turned away from my computer and felt like I wanted to punch something. I told myself that i should probably just cut my losses short on the other two trades and save face for the day, since it just seemed like a losing day in general.   If I wasn't actively involved in the two other trades I would have left the house just to get away, but I knew that I had to stay. Ten minutes later while watching the Master's online I heard "Order Filled". I then said to myself "there we go, just my luck, what a bad day". When I turned on my other monitor to record the losses in my trading log I noticed that they had both actually won. What do you know! Glad I didn't get out like I did on the first one. 
4/15/2011

Believe: Tomorrow will be better!

Reply



Leave a Reply.