living off luck

That’s exactly what I’m doing! Relying on luck if today’s trading is anything to go by. Following my post yesterday - I'm not so calm anymore!

I started today on a bit of a back foot. I forgot to set the alarm for this morning and ended up waking up late. However, I was feeling relatively upbeat and was looking forward to sitting down to trade today. I eventually sat down at 8.44am today and finished positive for the day with +2 pips at 9.13am.

Though how I finished the day up instead of down is a different story..........it's a good thing I halved my pip value to £0.50 per pip.

My first trade was not perfect, but ok, I felt good in the fact that I exited this trade for +1 pip. And even though it did go negative by -2 pips at one point, at the time, I felt the trade was holding well and would produce the result I was after.

The second trade was a -3, but for once in what feels like a long, long time, I followed the rules and exercised GOWID before it was way too late.

But then, revenge trading took over. In my head, I was now -2 pips down for the day – we can’t have that now can we? Why the fuck do I do this to myself? So my third and fourth trades were disasters – I wonder sometimes if using words such as disaster, fucked up, and so on, is helping me psychologically.

The third trade was for -6 pips. If I am to console myself, I could say that this was a combination of pointless hopeful trading and following of the rules – at least this wasn’t a stop loss situation right? I’m now at -8 for the day so far. Oh no! What shall I do? Trade again of course.

Trade 4 – at least this was my last trade. Exited this trade for +10 pips, so I’m now at +2 pips for the day so far. Do you think this last trade was achieved by following the rules? You guessed right – of course not! Put this way, at one point – when I stop needing to use this phrase, I think I will be a good trader – I was 7 pips away from my stop loss taking me out of this trade. Need I say more?

Now that I have taken you through the last two trades, my first trade was clearly me trying to convince myself that today wasn’t all bad, when in actual fact, with the exception of my second trade, it was all shit.

If I repeat today's events again this week, another punishment will be called for – pip value to be halved again to £0.25 per pip for next weeks trading. I'm great at this punishment stuff – what should be my reward, if I manage to follow all the rules for the rest of this week – that I need to think about. 

On to tomorrow........