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Sep 10

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Thought it was a worse week than it actually was.

Had 3 trades this week according to my plan. Quite quiet during my trading session. All 3 hit the SL and I must say I was in a minor fit of depression on Tuesday lunchtime! :-). WTF is going wrong …… have never had 3 trades in a row hit my stop loss without any sort of positive price action allowing me to consider getting out early, or halving the order size…….all 3 within 30mins BANG.

Wednesday and Thursday held it together being ULTRA careful with my trades and probably over analysing a wee bit, but kept me out of the market when I probably wasn’t mentally ready to be in it.

So last night with a cool head I went back and took a look at the 3 trades. What did I discover….on all 3 trades I was taken out by 1 or 2 pips and then the price retraced and eventually hit my target. OK so it was the PIP God after all just giving me some coaching to build up my mental toughness. Thanks.

OK so I am down 3 whole %…..cough splutter…..but by a fleas whisker.

Typical Trade

Typical Trade This Week

In the meantime it’s cautious Trading with smaller size. All you can do when you are sailing into the wind.

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2010/09/10/thought-it-was-a-worse-week-than-it-actually-was/

2 comments

  1. FXTraderPaul

    Remember Jimmy if you planned your trade and traded your plan then those were successful trades.

    I know it’s easy to see however were ever possible focus on decisions rather than outcomes. Did you make the right decision at the time based upon everything you knew? Did you plan your trade, trade your plan and manage your risk? If so then they were good decisions regardless of the outcomes.

    Chin up!

    FXTrader Paul

  2. Jimmy_FX

    cheers paul

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