And yet another bad day!

I started at 10.10am and finished at 10.38am for an embarrassing -26 pips off two buy trades and one sell trade. There’s nothing to say really apart from that I broke every rule in the book. There’s no point in me saying anymore today as I will just end up making a bad situation even worse for me.

Another bad day!

I’m so wound up right now, I can’t even find the words.........I started at 8.52am and finished at 9.15am due to an announcement that was due at 9.30am. No trades were entered into during this first session. I then sat down again at 9.42am, after the announcement, and finished at 10.29am for -13 pips off three sell trades. And again, apart from the first trade which was perfect, the remaining two were a complete waste of time and once again, only because I couldn’t GOWID!!!

Session 2

It’s becoming very obvious to me that the only reason I get a few perfect trades here and there is because they obviously do not go negative from outset – it’s clear that if the trades do go negative from outset, I don’t GOWID quickly as I should, I just sit there like an idiot waiting for them to go positive, but instead I rack up far bigger negatives than I should. For example, if I had simply GOWID at the first sign of doubt on trades two and three today, I would have finished today for around -4 pips in total. That’s a big difference from the -13 pips and the nasty taste in my mouth that I ended up with today.

Session 1

From a high to a low...

I lost it today. With all the self motivation, the advice from the people I met on the forum, I simply couldn’t GOWID when I should have today! I started late at 11.10am and finished at 12.24am for -8 pips off three buy trades.

Everything was going really well to begin with, I sat patiently watching because I kept reminding myself about moves such as those from last Friday and as there wasn’t anything that looked comfortable, I didn’t get in on any trades for over 50 minutes. But then I must have been impatient, so when I saw the Cable move up with some momentum, and though there wasn’t really any strong correlated support from the other two currencies – I jumped in on a buy trade. And of course, the move stalled, I hadn’t gone into profit yet and it began to fall – for the same old reason, I didn’t GOWID and only got out when I was -10 pips down. The remaining two trades went along the same lines off the back of revenge trading etc, etc, etc, etc.

Back to the drawing board.....

I couldn’t have asked for a better trade!

I am ecstatic today.......I started at 8.29am and finished at 8.30am for +7 pips today off one sell trade which lasted 11 seconds. What a feeling to finish the week on such a high!

When I was setting up the charts, putting in my usual datum lines, I could see in the background that there was some strong movement going on with the currencies and correlation was evident as well. The beauty of today’s trade is that it checked all the boxes. The Swissy had already started moving upwards with momentum, if I remember correctly, the Euro had also started its downward move with momentum as well and the Cable was starting its move down – so I jumped in, and it went positive straight away, well, over a period of 11 seconds, and as soon as the Cable halted, I jumped out to lock in my pips, though it can be seen that the Cable resumed its downward move while I was taking the screen shot.

I have to remember these moves as these are the kind of moves that are worth waiting for days without trading. Meaning, there’s no need for me to try so often for risky pips in situations such as yesterday, earlier in the week or, on numerous occasions in the past. I know from today and from past experience that these moves do happen – I’ve got in on these before. I have just been so busy getting in and out of the wrong moves so often and so quickly into my trading sessions, that I have not given myself a chance to see great moves such as today’s develop. These types of trades are low risk and are perfect examples of trades that I should be getting in on – they don’t even need to produce as much as 7 pips – quick 2 and 3 pip trades here and there, 5 or 6 times a week would be more than enough to fit in with my targets.

Speaking of targets, I hit my 10 pips for the week but with only 3 out of the 10 trades this week were rules following trades. Having said this, I’m so fucking over the moon with today’s trade, it’s unbelievable – I now just need to calm down and start on Monday again as though it’s a new day, a clean slate and with an abundance of patience!

My round up for the week;

Mon -5 pips

Tues +6 pips

Wed +3 pips

Thurs -1 pip

Fri +7 pips

Total for the week, 10 pips.

Coming away with something positive?

That is tough to do today. I started at 9.54am and finished at 10.46am for -1 pip off three buy trades. It’s very true when they say not to trade if your mind is not in a good place. And this resulted in me just not being able to GOWID appropriately in any of the trades.

I got into the first trade in the usual fashion, way too soon after I had sat to down for my trading session – just 4 minutes in. There was no way I could have got an idea of what was happening in the market in 4 minutes of observing, let alone allow  trade to develop. And I paid the price, I was -12 pips down at one point and stayed in this trade for 15 minutes before I was lucky again to come away with +1 pip.

The second trade which lasted nearly a minute and a half reversed in a split second and I did actually get out this time and locked in -8 pips. But just to be clear, I did not GOWID when I should have which would have kept my loss on this to -2/-3 pips.

The third trade, was identical to the first in that it lasted 15 minutes, went way down to -10 pips at one point and eventually came back to go positive by +6 pips which is when I got out, and as can be seen by the chart, it continued upwards by a further 4/5 pips. The point is, this trade along with the other two, was useless and I should be extremely thankful that I finished for -1 pip overall today.

So in answer to the question in my title, NO.

A good day!

I started at 7.35am and finished at 7.40am for +3 pips off one sell trade today. The trade did last 30 seconds, slightly too long in my opinion, but did not go more negative than the spread. I met some friends on the OANDA Forum which may have something to do with today, time will tell.

Keeping it short and sweet today, and staying positive as ever.....

One good trade!

One out of the two trades I executed today was done well – it’s a start. I started at 8.15am and finished at 8.35am for +6 pips off one buy trade and one sell trade.

The first buy trade wasn’t executed very well at all – it was one my old style trades where I was waiting and hoping for it to go positive. Though it yielded +5 pips it could easily have been -5 pips or worse......the errors made – 1) not waiting for a better entry point, i.e. not waiting long enough from the point of sitting down to see better trades develop and 2) lack of GOWID.

The second sell trade could be argued as a well executed trade for +1 pip. I had been watching the Cable jerk up and down between a range of 7 pips a few times and on each occasion there were correlated moves by the Euro and the Swissy. So at what turned out to be the beginning of a downward move, I got in on a sell trade, grabbed a pip and GOWID. This trade was quite risky, but the fact is, following the rules worked in my favour.