Thursday, October 23, 2008

Practice of taking stops

First trade, not so much clever but I used it to follow my emotions. I was feeling bad and wanted to avoid being stopped out. Because of that I didn't want to get out on any price before my max set stop. I was hoping whole time that it will come back. Finally stop took me out and I felt misery. Really funny now when I wright about that. So I was in misery and I had urge to go back in, trade, get the money back. Ugly emotions, luckily I was just noticing them. When I think about it, too bad that I didn't start long before giving attention to those feelings after stop.
I cool down a little and my thoughts were that I got to lose identification with all of that emotional garbage.

I was writing blog entry and market started pushing again so I had second trade which was profitable.

-10 pips for a day

I think that I just get to go in that direction to get rid off bad stuff. Not so much attention at is every trade profitable or not, put emotions under control, especially those regarding stops. Emotions under control is when you have them but don't have to act on them forcefully. So I'm glad that I got stopped out and felt all the bad that I do. If that is the worst thing, it's not so bad and I can get custom to it. I feel little ashamed writing about it now after so many years of trading. It's such basic stuff. You get bad emotions when taking stops. So what, move on.

I will probably now pay less attention am I trading profitably or not overall, but more to execution and all surrounding each trade.


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