Weekend Thought

My mistakes as a trade is : Not do the consistent job and did discretion trade.

For the past weeks, I made a discretion trade. I thought if I placed a tight Stop Loss, I'll be fine. I was wrong. At the beginning, I made a decent profit from this method, Stopped out, re-enter, and make profit. Until I was overconfidence and against the trend violently. I thought I placed Stop Loss and I'll be all right. No it's not. I was stopped out dozens of time until I can't afford to lose anymore. I was tilt, my trading performance dropped to the lowest level in my life. Scared, Deppresed, and frustated.

Until I realized one thing, Consistency. I rewind my memory backwards when I had losses because of the system, it's not even a quarter of my biggest losses in one day. I do remember when I was taking the trade solely based on system, my profit taking was bad, and I still have quite good month. I thought I was advancing as a trader, but I was wrong again. I am just an over-confidence brat who just learn to trade.

It's so many temptations from trading, Each person have different evil.
1. Like to fight the trend, want to become a hot-shot hero to pick the top/bottom of the market.
2. Hate to cut losses, averaging down until one day dried up capital.
3. Taking profit too early, thought that profit taking won't make us broke.
4. Hold profit position too long until it went back and become a loss.
5. Too tension of losing money and cut losses too early.
6. Don't even know what's make him/her fail on trade.
7. Worst, blame market for the losses.

My Weakness:
1. Tempted to enter the trade without signal, then re-entry infinite time not realizing against the trend.
2. Sometimes Stop Loss too tight.
3. Hate to have a losing day. Attempt to winning back the losing trade and sometimes end up worse.
4. Need a long time to recover from big losses.

My Strength:
1. Already familiar getting stopped out. Disciplined on Cut Losses early.
2. Strong at new ideas and backtesting the system.
3. Have a decent patience for waiting to setup to appear.
4. Can hold my horse of stopped trading after winning.
5. Can modify lot of system, change it from high winning ratio or better risk-reward ratio.

Neutral ability:
- Not entering every trade, looking for some fundamental aspect especially on Currency.

I'd like trading forex becaouse of diversification. Win on EUR, lose on GBP, par on AUD, if the result was green, I'm fine. I thought if I can entered all of the pair, I may have everyday's profit. I have a character to like profit every day even it's small. High winning ratio is my objective.

To accomplish that, contradictory I need to Stop Loss early, raising the Risk-Reward Ratio. I need to get back to July's performance. There're very nice performance of winnig streak days. Start to backtesting the Currency again, this time with 3 currencies :)