The rules saved me today – my first trade was almost a repeat of my bad habits and could have been far worse if it was not for GOWID!
Kick off was at 8.38am today. When I was setting up, the 8am candle on the Cable was already over 50 pips down and had no wick at the bottom. By the time I had set up my charts however, the Cable had reversed by around 10 pips and I began to watch for an opportunity.
My first sell trade was a disaster and like I said, could have been a lot worse if I hadn’t GOWID, I ended up with -5 pips. What annoys me about myself on this trade is that, when I was 1 pip down at one point, I was in doubt and I didn’t GOWID. I need to remember this or I am going to come a cropper again and my ultimatum dictates that I hang my trading shoes up for good if I fuck up again like I have in the past.
The second sell trade, better, finished on +1 pip and made good use of GOWID. The duration of the trade was longer than it should be, but I’m quite confident I was ready to GOWID from beginning to end on this one.
Trade three, a buy, much better in terms of pips, it yielded +4 pips and good use of GOWID. The duration wasn’t too bad either, just under a minute.
My last trade for the day, another sell, is the perfect example of the type of trade to enter. The trade lasted 6 seconds, yielded +3 pips and I GOWID! A perfect end to the day.
On rereading the above, it’s evident that I’m revenge trading aren’t I? Another attribute that’s not within the rules. I had broke even after trade number three, so to finish up for the day I got into a fourth trade – risky business – the question is, would I have continued trading if the fourth trade hadn’t produced the goods? Either way, in my opinion, one too many trades for my level of experience. I wonder – having broken all the rules for such a long time must have made breaking the rules second nature for me – this has to change, I need to reverse this trend, following the rules has to become second nature and instinct for me.
I am feeling good with today’s overall results though – you could say that three out of four trades ranged from being ok to perfect, so it’s all good!
No comments:
Post a Comment