It only need half an hour to lose all my gains today and double it. Chopped severely, slippage, fade, everything came down at one. I losed around the same amount of yesterday's gain. Not a big deal I mean. My mistakes was I let my profit become losses and I just trade the 02.00EST. Well, the last 5 days the 02.00 EST give solid move. Today, just chopped around aimlessly, and eat me out alive.
Surprisingly, CL give great movement almost all days after inventory report. It often chopped of course but there's lot of opportunities.
I lost $355 after I made my peak at $389...Meaning I lost more than $700 on half an hour...annoying right?
Lessons I learnt that:
1. At least I can control myself not to blow out and overtrade again. What's done is done.
2. If there's already big moves on pit session, then the 02.00EST should be avoided. Especially after making decent profit.
Am I sad, of course I'm sad. I just need to check up myself if I sabotaged myself AGAIN!!! Apparently not. After making 3 profit day in a row, I had trouble sleeping. My body seemed rejected my performance. I don't know why. It looked like I was addicted to lose. Dangerous...
Somebody helped me get rid this disease in me? Anyone?
But I found it that my system worked!!!it's just I the timing sucked. If I trade all pit session, I might have nice reward. Tomorrow, I'll repeat the process. And if the crysis still intact, I'll get the profit again.
Not too bad - you can't win every day. As long as losing days are in the same or smaller size as winning days, you can survive. Did you know the Fed Beige Book came out today at 2:00EST? I'm sure that added to some of CL volatility.
ReplyDeleteThanks MBA,
ReplyDeleteI didn't think of that, could be since other 2.00 EST didn't have news. And again, thanks for the cheer up. Feel better now :)
De'Trader,
ReplyDeletebeen there thousands of times, funny you posted this. I just made a post about not getting whipsawed. Trincafe.blogspot.com
I made three day trades on the Dow, 2 of them profitable, the last trade cut my daily gains in half.
Hi Duane,
ReplyDeleteI think it's decent trade. U still have ur profit. And about whipsawed, it's been my long life journey. Reason I took trade on specific time to avoid those things! But yesterday the whipsaw come at those time. Jeez..
Please tell me if u have tips to avoid whipsaw. Mine right now is avoid taking trades at flat EMA and candles there
>After making 3 profit day in a row, I had trouble sleeping. My body seemed rejected my performance. I don't know why. It looked like I was addicted to lose. Dangerous...
ReplyDeletewe all know about fear of losing but there is also fear of success.
Thanks cory,
ReplyDeletehow to get rid of that syndrome?
De'Trader,
ReplyDeleteas far as avoiding the whipsaw. I try to practice the following.
1. Don't trade during (NY)lunch time.
2. Prepare your trades before they happen.
3. Be content with the market moving without you.
trincafe.blogspot.com