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obtained hit by two pips on a Sell Stop Order (Oanda 30 pips G/cad distribute at news!) And spent the rest of the commerce.
The GJ chart reminds me it might be well worth waking up early for large G news announcements.
The E/cad chart reminds me to hold interest rate decision transactions; I made a lot of cash on the table with E/cad, G/cad, and U/cad trades now. If I don't collect the cash, trade selection isn't so great.
Takes guts to acknowledge the failures. Now you know what the issue is, work hard to keep your emotions. Money management can help you a lot with this, and searching for a steady growth of your account instead of the variance you are getting.
Vamos!
Great idea to produce a new account. I suggest you to try demo again or begin with very small lot size like 0.1 lot. Run it half a year and see the outcomes. Trading a timeframe is best for you.
Dear Dude,
I've been there and done that.
Going via the similar life phase and lifestyle events .
I highly respect your transparency displaying the trading account with enormous balance.
I understand I am in no way qualified to give you guie or suggestion, but as a fellow trader who has been through the similar life phase of life incidents, it is my expertise to not rush into recover losses since it only contributes to over-trading and lack of plogical control over ones own trading , compelling a trader into reduction of control over the logical thought process. That all is coming from 10 decades of trading experience , dealing with emotions is part in trading .
Have a pause to go over what went wrong, write it down and stick this thing to aspect of your trading device as rigorous things not to do regardless of what . It helps a ways.
Losses are part of life of trader , the only thing that we can control is reduction in predefined % . The profits will come automatically given your trading expertise. Employing SL has helped me to transition from the stage of plogical trader to a profitable trader once I follow specific set of principles written down and altered as a trader.
Following exactly the same intention of transparency and keeping ones emotions in check and to outline the trading over weekend , I have started to note down few points in my own journal as well, simply to hep myself find the plogical balance that is the backbone of professional trading.
Sorry to barge in on your journal. I mean well for you .
Wish you a victory.
Regards
Week in Review:
On Wednesday at the NY session I made $2500 quickly (and was getting a second fantastic first half of this month like September) but then instead of shutting my platform and appreciating the afternoon I took only one more transaction, then spiraled into oblivion the next 3 days, planning to make it all back at the N government announcement.
I was up $3k when that commerce turned A news, then it just kept going and I sat there still at a disbelieving fog, thinking it was only the A news--but it wasn't and the transaction kept running against me until I shut it in fatigue. I figured the outcome on moves, was incorrect and ignored that the market's reversal.
My difficulty is over-trading (pretty much random gambling), trading too large when I am dropping, revenge-trading, self-esteem--and I am probably trading to make stress and unhappiness (something recognizable to me). This year my dad's dying and an engagement ended, and I have carried this unhappiness into trading--that the early winning times are too simple, then I want to go and $%@ up things). Got it.
I spent the weekend contemplating my objectives in trading and life, and identified things that I want to change to make them occur, such as writing a trading plan. With these observations, motivation to make this work, I opened a new account and will start anew on Monday.
It has been disagreeable to write but it's the fact, which is a fantastic place from which to start change. I hope it is useful to someone out there.
You are there, ... haven't really followed my recommendation.
Wake up!
What's up with you?
That you wish to loose all of it?
It's up to you ... I will tell the next to not perform thing if you'll be a different 50k down ... (or in the event that you'll begin doing it).
Get organized and get back on the right track.
(not that I get changed to be fair but I believe you can do it)
84 trades, 480 lots....today alone?!?! WTF!!!
Dude, are you a HFT robot hiding out here??
Hilmy83. It requires the reader through a substantial portion of a trader's lifestyle. I liked it.
https://www.amazon.com/Pit-Bull-Less.../dp/0887309569
Friday wrap-up: Read the U news nicely and bought EU since it went backward, then escaped at spike plateau. After that, only grabbed a couple of pips and there--just wasn't feeling trades to be held by it. Too bad, because an EC closed short 20 seconds before it plunged 20 pips, along with a UJ short that had 8 pips, and an EJ pips I was too lazy to click on to start it. There was no technical reason to exit EC; I was feeling tired and did not want risk finish the week with a small trade reduction. Gotta get the pip-killer mojoHappy to be in an equity high and nearly no draw-down this week.
Spent too much of this trading day back following the hurricane banging on Ecad with my head on the side of the swings now! Got mashed setting Buy/Sell Stops without and Take Profit Limits on Gcad and GU on the GBP news and saw thousands of dollars evaporate in seconds. Time--simply set Stops and Limit orders a distance apart, and make some easy money. I read about one guy oncliqforexnow who made money both approaches around the news spike utilizing this technique performed!
I was basking in the windfall from the one-way BOC News Release that gave me hundred of pips in 12 seconds on Buy Stop Orders recently, and the notion of a nasty adverse spike was not in the front of my mind, where it should have been, once I proposed my Buy Stops for its GBP news. There was plenty of GU GJ, etc goes following the news--which could have been the way to play that News Release today. Speaking of GJ and GU, they were got in by me later emerging from the first carnage but bailed on the two of them; I had been to bank pips to make up for that disaster, and missed the picture.
Internet was also off-and-on now, which cost me a million dollars on floating transactions that went backward when I could not see them for too long between outages. And Oanda's Advanced Charts went down many times, and also did not allow trading from two of my three charts. It was a tiring day, which might have been solved by carrying fewer and better quality set-ups, instead of playing ch-up in the day's end. I had been in the penalty box during NY, scheming end favorable and how to receive my cash. The market cooperated and that I can sleep well tonight, and commerce smarter.
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