Time wasting

I started at 10.12am and finished with the stop loss kicking in at 11.11am for -22 pips. Score for today; 0 out of 10, goes without saying.

Round up for the week;

Tues -3 pips

Wed +2 pips

Thurs -22 pips

Grand total for the week; -23 pips.

Just not there in the head right now

I stared at 10.12am and finished at 12.24am for +2 pips off two sell trades – both of which I score 0 out of 10.

No Comment...

I started at 9.46am and finished at 10.12am for -3 pips off two sell trades and one buy trade. Score for the day; 0.

Didn’t GOWID!

That was my downfall today. I started at 10.18am and finished at 10.39am for -6 pips of one sell trade which lasted well over a minute! Score for this; trade 0 out of 10. I think that’s enough said and enough trading for the week.

Weeks round up;

Mon +1 pip

Tues +1 pip

Wed -7 pips

Thurs -6 pips

Total for the week; -11 pips.

Took my eye off the ball....

....and suffered as a result. I started at 7.49am and finished at 8.21am for -7 pips off three buys trades.

The first trade was very risky, with hindsight I should have stayed out of this. There was something going on this morning as the spread was 4 pips (between 7.49am and 8.03am) when I started and there were no announcements any time soon. A move began, which I got in on, but stalled and reversed very quickly – I did GOWID and the duration of the trade was 14 seconds, but I had locked in -5 pips by then. Again with hindsight, I should have GOWID when this trade stalled which would have locked in a loss of -2 or -3 pips. Another lesson reminder – GOWID at the first sense of doubt and do not wait until it reverses. This further emphasises the need to wait for a good correlated move with strong sustained momentum before getting in on a trade. Score for this trade; 4 out of 10.

The second trade wasn’t quite there. It produced +1 pip but took 21 seconds to do so. Though correlation was evident I don’t think the momentum was strong enough, else it wouldn’t have taken this long and certainly would have produced more than +1 pip. So I’m scoring this trade 4 out of 10 as well.

The last trade was a complete balls up. Something bizarre happened, the spread increased from 2 pips to 5 pips, but this was after I had made a decision to stay in this losing trade. In other words, I should have GOWID for -3 pips even before the spread increased. What I did in actual fact was watch the candle move up and down, all the time at a loss, maintaining its 5 pip spread and I eventually, over 4 minutes later, came to my senses to GOWID for -3 pips, though it could have been as high as -8 pips. So score for this trade; 0 out of 10.

Overall average score for the day; 3 out of 10. What do I take away from today to remain in a positive frame of mind. I actually feel quite positive, in spite of today’s results. I’m not proud of the third trade at all, but will put it down to the increase in the spread throwing me. So a small hiccup today but this will not hinder me in my progress. I have one more day of trading this week as Friday and Monday are bank holidays and I will trade well tomorrow, even if it means sitting through the whole session without entering a trade.

Staying in control

I traded in the afternoon session today, starting at 1.41pm and finishing at 3.04pm for +1 pip of two sell trades.

The first trade lasted 11 seconds to produce +1 pip and the second trade lasted slightly longer than I’m normally happy with, 25 seconds, to breakeven. So though I sat through 1 hour and 23 minutes today, I finished on a positive and stuck to my plan by being focused. I did tell myself on a few occasions to stay out as both the 1pm and 2pm candles on the Cable produced decent sized red and green candles respectively but they did not grow in their respective directions with sustained momentum – it did make me feel like I missed out on pips.

However, the important lesson that I am reaffirming to myself at the moment is that, if I’m not comfortable with a move, stay out, or WIDSO, my newly coined term – when in doubt stay out.

Scores, trade one; 9 out of 10, trade two; 8 out of 10, therefore the average score for the day as a whole; 9 out of 10 – I’m happy with that.

A controlled positive start to the week

My confidence grew the more time that elapsed in todays session. I started at 8.07am and finished at 9.08am for +1 pip off two sell trades.

The first trade was a result of OANDA hanging on both the entry and exit, but the way I see it, these issues will arise and as much as I hear that OANDA is very accommodating in rectifying errors such as this, I am accepting the result of this trade as an occurrence that can happen and therefore is part of my actual profit and loss. Having said this, I am still happy with this trade in that I GOWID appropriately, the trade lasted 13 seconds and my loss was limited -1 pip. I score this trade as a 7 out of 10.

I was completely happy with the second trade. I stayed composed during some crazy movements and only got in at a point when I felt I could grab some pips – and I did, I got two pips in the 12 seconds that I was in this trade. Score; 9 out of 10.

I am also proud of the fact that after the second trade I continued to watch the market for a further 37 minutes without trading before decided to call it a day.

Average score for the day as a whole; 8 out of 10 – It’s amazing how trading like this sets you up for the day on a high.....