November 2010. results

-30 pips

-10 %

- 5 pips

Refusing to take profit, swing trading. Lame and unprofitable. When I suppose to let profit ride I don't do it, but when I force it like today I get nothing only losses.

+ 10 pips

- 32 pips

Part I
Little indifference today toward scalp profits. Trades were half size and I let them run their way without interfering. Probably because of that bottom 1h chart of gbp/usd which shows my yesterday's trade. This swing trading bug gets me from time to time, questioning my scalping way of trading. There is nothing wrong to be sometimes emotionless about losing scalp profit, letting it slip away. Especially for me because I'm usually ultra emotional about every tick.

Part II
(chart 4.)
Later in the day after first two positive half size trades I had circus performance with nine full size trades. From +10 to -25, then -15 and finally -32 pips. Interesting how I put a trade after my max loss was realized. I won on that one but it wasn't enough for me to stop. No point in explaining anything when it's mostly irrational. We can call it gambling, whatever. Point is that I'm obviously emotionally unbalanced (better sounding then emotionally challenged). It isn't really a trading problem but it sure does impact my trading and make me trading problems.

+ 11 pips

Half size trade.
Holding on to a trade is very hard for me. Whole time I'm guessing should I get out or hold it more. No matter where I exit in the end it usually feels bad because it continues in that direction and I miss out or it bounces before I exit and I don't take what I had moments before. That's why I usually scalp fast market because it doesn't give me this kind of headache.

+ 27 pips

Trades were half size.

- 26 pips

Low morale

- 28 pips

What to do when you are fuming with anger about yesterday? Go against the trend. My max loss rule invoked, I probably wanted to try out that novelty.

- 60 pips

It wasn't bad at first but those two sudden losses at end of first chart flipped me real bad in negative and catch up game was unsuccessful. In truth from start all trades were kind of second quality at best.
So to cut long story short I was looking through my records after summer and came to conclusion, real one, to have max loss rule. Before I was averaging and couldn't really make clear math of what is better. But in last two and half months max loss rule would be a real winner. Math as it stands is 14 negative days -42 pips average total -594 pips, 21 positive days 16 pips average total 349 pips. Negative days with max loss of -25 pips implemented would have average of -21 pips and total of -294 pips. I need to add that I didn't count in small subtractions from account that I have on some positive days that I use as paying myself kind of deal that are profit also.
Also I checked would there be any changes with implemented max loss on profitable days and losing ones below max loss, no there would not. I even think that things would be even rosier without -104, -70, -67, -76, -45, -48 and -60 entering my world.
With this I didn't touch problem why when I recognize success in my mind like last week's +70 I have such brutal loss.

+ 15 pips

NFP quickie with half size.

+ 21 pips

I was shaken from first long by a 4 pip spike down so I didn't ride position today.

+ 7 pips

Today I was again practicing my waiting game and self talk with the chart can it go more up. I really like that new thing, something on the right side of good trading practice.

+ 21 pips

I had short in gbp/usd which run three times in support and didn't broke it. On fourth time I went long and it put me deep into loss. I managed to scalp back that loss in next two gbp/usd trades.
In eur/usd I was right about when to take trades and direction but I cut them short. At least at the last one I've done a good job. On that one I made an exercise in hoping for my profit to go up. I was saying: "Can you go to 65? Can you go to 70? Can you go to 80?" In that way I moved my attention from how much open profit I have and can I lose it. It's just a little difference but important one, and I want to practice it.

+7 pips