Pissed Off!

-9 fucking pips! That‘s my overall total for today! I broke all the rules, simply because I got greedy and hopeful. There isn’t any other explanation. I started at 7.59am and sat through two announcement periods until around 8.25am and from that point it all went wrong.

Without spending time going through all 4 of my trades today – yes 4 trades, another rule broken there. To sum up, from around 8.30am, the Cable began to grow a red candle. By 8.50am, which is when I finished, the candle had moved down 70 pips and I was -9 pips worse off than when I started. How the fuck can that happen you wonder? Fucking easily!

I am more pissed off today with the fact that this is going to push me back again. I now have to reduce my trade size to 10p per pip again. The good work I achieved in the last couple of weeks has been wiped out. All because I got hopeful and the excitement of a large red candle making me a gamble.

I have been here so many fucking times now, I hate it. I am such a fucking slow learner it’s unbelievable. I know I might be going overboard today and giving myself a proper hard time, but I deserve it! I just CANNOT go on like this. I have to get this out of my system here on the blog or it is really going to affect the rest of my day and I will be moping around like a moody bastard upsetting everyone around me!

I even forgot to turn on the historical trade option on the charts before taking the screen shot so the little triangles can further emphasis my fuck ups today.

Oh, I’m so pissed off, I could punch the wall next to me.

Ok, how do I calm down? How can I put this behind me so I can make the rest of the day productive and I also sit down to trade again tomorrow morning without feeling the way I do right now? The answer is, I don’t fucking know or care right now.

I think I’ll go for a walk and come back. The time now is 9.15am.

10.06am, I’ve just got back from my walk – 45 minutes, a few cigarettes later and I still feel like shit. I’m trying to reconcile why I have broken the rules again and I am coming up blank. I’m livid at the moment and can’t think straight.

Ok, ok, I got into 4 trades today. All of them were shit. The first was for 0 pips, but could have been -2 pips as it did go negative before breaking even. The second trade was for +1 pip, but again could have been -6 or -7 pips, as it did go negative before going into profit. The third and fourth trades were also executed badly but I suppose GOWID minimised my losses to a certain degree. But however I cut it, nothing was done properly today.

I don’t think I can actually justify any of my actions to make myself feel better. I will just have to leave today for what it was, me being a complete and utter dick head, there you go!

An ok finish to the week

I started early as planned at 7.24am and finished quite early at 8.07am for an overall 0 pips off one sell trade and two buy trade.

The first trade at 7.59am, after just over 30 minutes of watching, was a bit of a gamble. I watched the Cable move up with some correlation and momentum to 1.5439 and then reverse to around 1.5435 three or four times in a row. So I decided to get in on a sell trade, if or, the next time it reached back up to 1.5439. And when it did, I jumped in, by the time the system had executed the trade my entry point was at 1.5437 and 21 seconds later was 4 pips in profit, so I jumped out using GOWID.

As soon as I had exited the above trade, the Cable reversed dramatically, and shot back upwards by 20 pips. I was still quite dazed by the 4 pips that I got off the last trade and without really thinking got into another trade, this time a buy – clearly hoping to get some of the momentum on the Cable’s upward move. This trade was definitely a poor decision and I was slow to GOWID leaving me with -4 pips, negating the gains made on the previous trade.

I stepped back now. I didn’t want a repetition of the last trade and so started watching carefully for the criteria I need. It wasn’t long before another buy opportunity presented itself. So in I went, but GOWID for 0 pips.

The weeks round up then;

Mon -3 pips

Tues +4 pips

Wed -7 pips

Thurs +2 pips

Fri 0 pips

Total for the week, -4 pips.

I’m not going to give myself too hard a time for this week, though my actions on Wednesday and Friday could have been that much better. I am going to push forward but keep my pip value at 20p per pip for next week as well until I learn to remain patient on days like Wednesday and Friday of this week where my patience levels were somewhat lacking.

The second and last session for the day

I made the decision to go for the second session without interruptions due to announcements. I sat down at 11.13am and finished at 12.58pm. The session was very hard going as there was nothing going on – hardly any movement, the Cable was doing its own thing without correlation with the other currencies, I could barely keep my eyes open and I found no opportunity to trade throughout the whole period.

But I am proud to report that I maintained my discipline, found a couple of pips this morning and continued to preserve my capital for the rest of the day, so the system is working!

I have checked the announcement schedule for tomorrow and if I am to get an uninterrupted session, I need to sit down for 7.15am at the latest and stop at 8.45am as there is a relatively important announcement due at 9am.

Here’s to tomorrow.........

Being Sensible

I setup today at 9.03am and finished at 9.14am for +2 pips off one buy trade. I was late getting out of bed today as I genuinely forgot to set the alarm today so was kind of on a back foot again.

I was checking the announcement times during set and noticed that announcements affecting the Cable and Euro were due at 9.30am, 10am and 11am. The rules are that I should not be trading at least 15 minutes before or after announcements. I didn’t want a repetition of yesterday where I was sitting and watching during the announcement period so decided to close the platform after the first trade that happen to come along just before 9.15am, the time when you are not meant to be trading because of announcements.

My plan was to sit back down for a proper session at 11.15am when the announcement schedule confirmed that I would have an uninterrupted 1hr 45min session, but I’m not sure yet. I’ll see how I am set come the time as I have quite a bit of other work to do today.

The good news is that I felt good after my one trade today. And most importantly, all the rules were followed.

Lacking in patience

It was a long and tough session today. Started at 9.23am and finished at 11.03am. The overall results for today, -7 pips off one sell and 2 buy trades.

My late start obviously didn’t help as there were announcements that affected the Cable and Euro at 9.30am and 10.00am respectively. So officially, there was no trading allowed from the point I started until 10.15am. During the 9.30am announcement the spread on the Cable fluctuated between 5, 10 and 20 pips. It also stayed on a 5 pip spread until 10.47am. But then I couldn’t really start trading as there was an announcement due at 10am, so the waiting for 40 minutes watching and not trading didn’t help me stay disciplined in being patient. Especially when the Cable moved down during the no trade period through 30 pips with reasonable momentum but because there was a 5 pip spread and I was still within the announcement no trade period I didn’t trade.

So everything points to lack of patience and in turn errors being made as a result, an all too familiar trait that requires immediate quashing – there done! Hindsight as always is a wonderful thing and tells me that I should not have traded at all today.

GOWID did keep me relatively intact, but still, quite a high loss today, not to be repeated again.

A Great Day of Trading!

An early morning start at 7.26am and an early finish at 7.49am today for +4 pips off one sell trade!

When I initially sat down, I thought the currencies were doing’s it’s anti-correlation stuff again. The Swissy was pushing up, the Euro was pushing up and the Cable was pushing up. So it was a matter of waiting and watching until an opportunity arose. And since it was an early start for me today, it was tough just watching, in fact, it was tough keeping my eyes open.

However, after waiting and watching for just over 20 minutes, a perfect move did arise. The Cable pushed down with momentum, whilst the Swissy pushed up and the Euro pushed down. So I jumped into a sell trade, it lasted 8 seconds and yielded my +4 pips. Even after I got out to lock in my pips, it continued down, but I can practice picking up those extra pips another time. I’m aiming for rule following and consistency for now.

I feel absolutely great today, but stay grounded is what I’m saying to myself, it’s easy to get carried away. Here’s to tomorrow.......

An OK start to the New Year

I started at 8.34am and finished at 9.16am, so less than 45 minutes today, you could say, a short session in comparison to last week. Today’s session produced a total of -3 pips off three trades, 2 buy trades and 1 sell trade.

My general feeling for today as a whole is good, though there is a small niggling feeling that I could have been more patient. This may be due to the fact the session was relatively short in comparison to the average duration of last week’s sessions, but nevertheless, patience was somewhat lacking today.

I am happy to say that GOWID is functioning well though, as the first 2 trades today produced 0 and -2 pips respectively. Ironically, both of these trades went positive after I had got out, but then if I was in doubt, I have to get out, this keeps me in check. If I had stayed in these trades and finished each trade for positive pips, I would have been writing about them with my infamous line, at one point I was at -2 pips etc. In fact the third trade is a perfect example of GOWID protecting me. This third and final trade lasted 17 seconds, I started to doubt the trade when the Cable was holding for longer than I envisaged, but it eventually cleared the spread to break even and then began to hold again. When the Euro indicated that the Cable should begin to fall any second, I got out. By the time the platform exited this trade, I was at -1 pips and by the time I had taken the screen shot for the blog, and if I had stayed in, I would have been at -3 pips. So GOWID worked exactly as it should in this last trade.

I also increased my pip value for this week from 10p to 20p due to the fact that I followed all the rules last week and finished with positive pips. A step I haven’t taken for as long as I have been writing this blog. With focus and some luck, these increments will continue in the weeks to come and at some point this year, I will be trading at the pip value that matches the capital that I have.

The main result of today is that my losses were kept small, just as Sid used to say during the course. I’m sure I will be a lot more patient tomorrow and will only enter a trade if I am confident that one, it will go positive straight away and of course, two, if correlation between the currencies is present with strong momentum.

Dare I say it...........onwards and upwards!