I couldn’t have asked for a more perfect trade than the one that I bagged today. I had a bit of a late start at 10.07am today and finished at 10.20am for +3 pips off one sell trade. I was ready to trade for before 9am, but when I checked the announcements that were due, the first starting point I had available was from 10.15am. And yes, I know I started at 10.07, but I wasn’t going to get into any trades until after 10.15am, at least, that what I say now....
This is a pure, pure mental game, and I followed everything that I reminded myself about in yesterdays blog post to the letter – for a change! The duration of today’s trade was 12 seconds – short and sweet as it should be. This is quite funny, but whilst I was watching between 10.07am and 10.20am today, I could feel myself trying to jump into a trade that wasn’t really there and I told myself out loud, “wait, there’s no rush, you need strong correlation between the currencies and strong momentum!”. But did forget to remind myself about GOWID.
I’m so glad that I did wait for the trade that I eventually executed today – where as in the past, my problem, plain and simple, has been, lack of patience! And how ever much I tell myself that I can sit through an entire 1 hour 45 minute session and not have found a trade, I haven’t really. That probably explains, why the duration of my trading sessions on average must be less than 30 minutes. But that is what I need to do, I really have to be prepared to sit through an entire session and not have traded if there was nothing that I was really comfortable with. I remember Sid saying that he now goes for 10 pips a day, but I’m after 10 pips a week or at least an average of 10 pips a week. So I just need to be patient.
No comments:
Post a Comment