"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Friday, November 27, 2009

Short-term Trades on Eur/Usd

Couldn't resist and entered a trade today on the Asia session. I think i wasn't so used to be trading in the day becuz from the time i started demoing my trades and through the past months of my trade, i have been only trading New York session (cross London session), which is about 8pm - 12am Singapore time.

I have been trying to discipline myself not to trade any time of the day when i could, juz because im working a full time job. i think i need to filter down when i can trade (the right session), and the right mentality (as in not when there is a family gathering or rushing to go out in an hour), in another words, i need be wad i call 'specialize'. from my previous posts, i think u can see that i have been using much indicators, which could be confusing me instead, becuz basically i did put there without much attention paid to some. so i decided to remove most of the indicators and only focuses some that i frequently use. don't want an information overload. it makes u much harder to decide into a trade.

Didn't scalp well on the New York session, my first trade was too eager to go in. But manage to recoup on my second trade after giving myself much time to analyse. As Bottle always said, wait for the right price to go in. I have a full time trader friend who told me last week after a catching up with him, he says, "You should get out of that exciting phase. Forex trading should be boring and mechanical".

It struck right into me. I guess he was right, i didnt thought of this. I think i still need time for this. We are human being, we need time to change.

-20 pips today.

I need consistency..

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