I made another massive mistake yesterday when I calculated a position size wrong - I had been using a new position size calculator and didn't enter the correct pair. Luckily I got away with all the mistake and was finally able to exit at BE.
I had been delighted with all the NU trade that I got a ideal entrance upon retrace. I probably exited to early but for today I'm mainly taking profit at 1/1 because this is exactly what I feel more comfortable with. When my trade choice is much better I will start varying my trade plan and deciding on greater fixed targets of partail TP and trail the rest.
The CJ trade was not powerful enough but I have seen transactions whenever there is a pinbar with consolidation and a TL workout on several occasions.
Been a quiet week since I have had a horrible head cold, despite this I was able to make some profit.
Exits might have been much better but at this point all I am searching for is consistency within my trading so I will continue to choose the quick profits. When I have mastered consistency on my entries I can proceed onto the next stage of figuring how to make superior exits. I believe this will involve a substantial change in plogy and my comfort zone is telling me to master the entries first so thats what I shall keep doing as it seems to be working right now.
I traded well in november and I am happy overall with my performance. I've let myself down however this week by trading badly along with a let 1 mistake direct to another which was very bad. I became to aggressive and began overtrading.
I will post the last trades of this month and myfxbook together with my results. Although I did well I feel like I am capable of doing so much better. This week is going to be my final trading week before the new year as I am going travelling in egypt for a while. I've spent the whole month refining my charts and trading plan so I am organised and ready to go for if I return.
Below are the previous couple trades I produced in November including some bad mistakes.
Unfortunately I had an extremely bad trading day today and lost nearly half of my profit up to now. I was overtrading and I believe I may even have been pursuing my losses. These were certainly not the a-grade style setups I have been carrying more regularly lately. I can't help but be quite annoyed with myself seeing as I wanted to finish this week on a fantastic note as I won't be trading till new year. Will have to see everything tomorrow and Friday brings I am not confident given the huge news and my lack of experience in that region. Anyhow here the trades -
A nasty start to december. I totally imploded and gave back nearly all the profit produced. Only 3% up in complete today. I really need to forget this week but I am going to need to look over my transactions and drill home where I went wrong. I know I traded badly and I believe the overconfidence of doing nicely last month got to me. The setups where not great enough and I just have myself to blame. My feeling is that I might have begun to chase my losses a bit.
Well that is it. Unless I find something amazing tomorrow won't be trading again until the new year. Its a shame to finish on a run of 5 losers but I am sure I will learn from it.
Hi, I am back to the diary - I have been busy trading the last two months - but I've not updated because of time restraints. I think I'll be updating less often than before. Trading is going well and my win/loss ratio is slowly improving. I've been learning a lot more about differentiating amounts in the market rather than utilizing zones and this seems to be a bit of the puzzle I was missing.
I shall still be carrying with the tendency pa with an emphasis on retraces but will also be focusing more of my own efforts on touch transactions with a view to differentiating levels in the market that have a strong possibility of a bounce. My departure will still be about 1r the majority of the time unless there are definite reasons (I can identify) to endure to get a better reward.
I am still making lots of mistakes - including not giving my transactions time to mature prior to having doubt in them and cutting winners short.
Happy with those although I left one dreadful mistake and exited a couple of winners early. The best thing is I seem to be becoming more consistent little .
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