I waited patiently today to yield my +3 pips in 16 seconds from the one sell trade I got into. I started at 8.25am after setting up my charts and inserting my datum lines. I kept saying to myself that there is no rush to get into a trade and that I have to wait for criteria.
There were a few occasions when I wanted to jump in using old bad habits, but I managed to hold off. As I said before, it is apparent now that I have some very bad habits ingrained in me, and it may be some time before I start trading consistently and feel confident again, but today was a step in the right direction.
I am proud to say that I was able to sit patiently today for 28 minutes before trading. I have to remind myself that I may have to wait a lot longer before finding the perfect criteria to trade and that there will be occasions when I will go the whole 1 hour 45 minutes and not have traded at all. I also noticed that during the 28 minute stint today and though my old habits tempted me to trade, ultimately, I was just not confident with what was happening with the currencies and I said this to myself at the time, “if you are not happy with the moves, don’t trade” and it’s true. In the past, I have been trying to get my pips quickly in order to close down for the day as soon as possible. When in reality, good moves do not occur as often as you like, if they did, everyone would be a Forex success.
No comments:
Post a Comment