Friday, February 8, 2008

I'm out of focus

It started well, I shorted market started to go down. In a second gbp/usd reversed back up while eur/usd kept sliding down. I held to b/e, to small loss, to stop loss. There I moved my stop and re shorted with another position. Got stopped. Started to short strong market with no reason, just some fighting response. Of course with hope that it will reverse back heavily. Well it didn't. I had chance to exit near break even for that set of 4 trades (4=crazy) and wisely I did exit.

After that I done some scalping, all profitable and took down the loss for the day from -60 to -44 pips.

I'm thinking now that I have to be more passive when it's about losing. I want to prevent loses and that impulse is so wrong and costly. I trade like I expect that I will have no loses, like no trade will be loser. I'm not prepared to lose, and I should on every one trade.
I know that I'm stating obvious facts, but I have to when I don't act on that.

It's especially hard to me to trade rational after I lose big like two days ago. Now I'm in state of mind get back lost and it's not good to trade well. I freeze, and let loses run and start automatic responses that cost me week's of profits.





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