Thursday, June 10, 2010

Feeling Bored

Finish 12 hours before market open make me tilt. I couldn't sleep but I have no guts to trade again. I knew how is going to happen with my mental statement.
-If I start the day with zero fresh start, and loss, I will keep trading till 2 things happen. Minimum daily profit reached or Shutdown mode reached.
-If in the process I already have profit, I will stop for the day. I'll never push my luck so far.
-I'll never forgive myself if I have an early profit and the profit decrease or even worse gone because I am trading again like an addicted gambler.

That's my mental statement. So after booking profit, I was bored to death and kept looking the JPY and GBP chart which are erratically whipsawed and chopped. I wonder how can I survive those two if I kept trading.

And btw, I already booked my weekly profit goal. Yesterday will be a strict day to trade. No messing around like the last let's see...THE FIRST DAY I TRADE! What a douche bag I am.

Luckily my money management still intact, but my trading setup is so poor. (I think I made less than 20% winning rate)

Lesson to learn. It seemed that money management is more important than your trading entry. I still think that cut loss short is the best way to trade. Even sometimes it's not rational. How come I lost more than 40 ticks while the Market only moved 20ticks?

Maybe I just get lucky :)

2 comments:

  1. I like your disciplined way of trading.

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  2. Tks FFXD,
    I just disciplined with the takilng SL, while the entry, not that disciplined

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