Turning a corner

I started at 7.51am and finished at 8.13am for -3 pips off two sell trades and one buy trade.

The first trade was a result of thinking I was missing out on a move after watching the Cable grow into a large candle and produced -7 pips. This candle grew without correlation, the Swissy for example was moving down, the Euro was moving up and the Cable was moving down in leaps and bounds, so no correlation, there was momentum (especially in the Cable), but no correlation and ultimately, when I don’t feel confident in a move I will not get in on something like this again. I will preserve my capital until a good move does present itself. The positives off this trade are that I did GOWID and the trade lasted 12 seconds. Score for this trade: 3 out of 10.

The second trade was a result of revenge trading and was risky though it produced +4 pips. So, staying positive in times like this, I will stay away from revenge trading and I will only trade for a profit when good moves present themselves. Score for this trade: 2 out of 10.

The third trade was also a risky trade, a result of hopeful trading and produced 0 pips. So again, staying positive in times like this, I will only trade for a profit when good moves present themselves – moves with good correlation, strong sustained momentum and confidence in that upon entering the trade it will go positive straight away. Score for this trade: 3 out of 10.

Overal score for the day: 3 out of 10.

A thread I started on a forum last week got a reply from someone who pointed out that I should adhere to The Law of Attraction – I have read about this in the past as well and truly agree with this philosophy, so in writing up my results today, I have tried to do just this – I will be practicing this approach from now on.