Just take a peak at the number of trades I took. Anyone will call me crazy. Any pro-trader watching me trade will smack me in the back of the head and say "Go home and sleep Black! You are not fit to trade!". Now I start to have doubt in myself on this journey of trading.
Summing up the night, basically my winning (or rather losing) went like this:
+5
-8
+2
+4 (struggling)
-10
+3
+7
+5
-20
+4
+5
+3 (struggling again)
-19
..
..
..and the list goes on.
The more I want it back, the lower my bankroll became. hmm.. emotionally unstable right now. I should learn from Jules not to dwell into losses, its a hard process though especially when it just happened. Sorry L&W, seems like my kit kat break is inevitable. :)
Obviously, under this kind of transition (big loss), I myself is to blame, although another part of me feels like gunning down the chart. Seems like the more you want to win, the harder it gets. The market is simply a formless figure everyone is trying to grasp. Like the sand in the palm the more you want it the faster it slip out of your hand, well maybe it only applies to me.
I'ma go get a drink. Criticism are welcomed, else I will take it as you have given up on me.. getting pessimistic here.. :D
Please. Don't try this at home.
Eurusd
Audusd
How I stopped out just on the point when market reverse.
-80 pipsBlack.
10 comments:
Black this is crazy you suck!
We all make mistakes and sometimes things aren't controllable at all.
There's always a tomorrow.
I only came here for a bit of self-promotion but you already link to me, thank you :)
Now that self-promotion is achieved I do though promise to come back when you have had a better day, as you no doubt will, and say something nice.
I have been learning and I think the most important thing is to think and act "bigger".
Look at larger timeframes and see where the levels are for support and resistance. Anticipate these levels and enter/exit accordingly.
Check out nobrainertrades.com
I wish you great success.
Black: Agree, you suck today...
Good part is you realize it and you won't be (or less chance be) such again.
It looks like trading at Oanda really bring many trades from people, chart is seductive. But that is not important.
First maybe you simply don't know how to trade 1min time frame chart yet. It can't be done without some understanding and with simply jumping in and out. Lot's of waiting is needed to find spots where you strongly believe that it's high probability trade, than you take small profit and that's it. It's hard that way, impossible without patience.
Second for me is helpful to have some structure about what I want to achieve that day. For example how many pips I want and then I can see where am I regarding to that plan. So I don't get lost in trading.
Off course this could be your way of having very bad day. I would average into oblivion and you take ridiculous number of trades.
Thanks FFXD, I wish to make this controllable some day.
Hi No Special FX, or "Scooby", I remembered one of your post asking people to call you that. :) I hope you didn't mind I linking in the first place and thanks for dropping by.
To Mr Anonymous, thanks for the site. In terms of timeframe, no doubt so.
LOL RCM! Thanks for agreeing and being straight. Seriously, I can't even bring myself to give my chart screenshot a second look. It is worst than looking at a toilet bowl full of.. as in a filled up one. :0
Hi FX! How was your summer trip? And yes, you did point out to me about Oanda like a junk food and I still commit such thing.
The thing is, you're right about the timeframe Mr Anonymous too), I have always been used to trading 15M, and 1M in Oanda (top with the 5th decimal point) makes things "faster" and "look easier" in a way. I underestimated the chart and when I trade this platform it was as though I went to my earlier days trading the MetaTrader.
I really need to adapt to better, self-control and take EVERY TRADE more seriously. Blogging and commenting really is a way of reflecting your action in a way. Most importantly is to learn from it.
I guess all of us have our own style of a winning / losing days. :) :(
My summer trip is still on and it's great as expected. Technically speaking only 20% of it is over :)))
Hi Black,
It helps to recognize and accept that losses and drawdowns are inherent in any type of trading methods that you are following faithfully.
I do dwell on my losses, sometimes for up to 24 hours. Most times, I turn my attention instantaneously to the causes that led to the losses/drawdowns - once it becomes clear to me that they are totally my fault (eg. I was ill-prepared, biased, stubborn, etc), I focus on correcting my behaviors and on putting on many good trades moving forward, and put all past bad trades behind me.
I don't know if this helps, but according to some wildly successful traders, before they became consistently profitable, they were making the same mistakes over and over, and it took them YEARS to learn to keep their emotions at bay and channel their energy into following their rules and managing their trades.
And yes, setbacks are very good teachers :-)
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