Thursday 9 December 2010

GOWID

This is the single most important rule that I am breaking time and time again. I reflected on yesterday’s afternoon session. On all three trades, there was doubt in my mind soon after I entered each trade and all that needed to be done was to GOWID and my overall losses for yesterday would have been around -4 pips.

Same with today, as soon as I got into the first trade I was in doubt as to it going positive straight away – and that is what is key, I must know or feel the trade is going positive straight away – and I exercised GOWID. The second trade however, was a repetition of yesterday afternoon, I was in doubt right at outset, but stayed in instead of GOWID. The third I reigned myself back in and GOWID for +1 pip. The overall results for today, -9 pips.


I am staying positive. Yesterday afternoon, has emphasised to me again that I have to be mindful all the time, I just cannot be trading on a whim or being hopeful. GOWID is key, even if I have got the entry points wrong, GOWID will protect me and minimise my losses. Though today’s second trade was a repetition of yesterday afternoon, the other two trades executed today were within the rules.

It’s obvious that the last couple of weeks knocked me for a six, but I now know this is not going to be easy transition from fucking up to getting things right. It’s my fault this is going to be tough, I did all the wrong things for too long, I have accepted that fact.

I am going to get there, it now just a matter of time, I may have said this before, I probably have said this before, but it is simply a matter of time, it will happen. I will take care of the little picture every day and the bigger picture will take care of itself!

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