I've been meaning to hold some of my intraday trades to catch some serious profits when I fully believe they can.
and today, I believe that is the case.
so, it's time to turn some day trading, into some light swing trading.
Again, something that's always challenging for me. If i'm risking 100 to get 300, i usually end up taking 120. etc.
the gbp/nzd long trade I am in right now I feel that way about. the only thing is, i don't have a component in my plan that accounts for how to handle this.
I can wing it of course, and I can also get drunk and drive 1000 miles to las vegas.
So... looks like i'll be taking profits at 1.9880. I don't want to try to develop a strategy on how to let the REALLY solid trades run, while I am in trades that may distract me or influence my insights into how I should structure such a new component to my trading plan as will work best for me.
so, it'll probably take a week or two. not sure. i just know it will come to me, and i'll try it out. if it doesn't work, i'll keep on it until i find what does work.
Also, the nzd/cad and nzd/usd short i have on could give some real pips...but those still fall within my normal trading parameters.
trades that could go 200+ pips... those are something else all together for me.
at anyu rate, i'm happy with the week so far. what's not to like really. 3 real trades, several entries on each (except the gbp/nzd), and all are looking great, and have had at least SOME profit taken out of them.
I have my targets drawn out, and am setting alerts now.
not much new to report...except i'm still updating my plan to some degree. just putting the details in their proper place.
over all though, this is possibly the first week i've started out feeling feel not just in control and coming from a place of clarity... but actually somewhat calm. not relaxed, but calm. this is NOT my natural dispostion. (which happens to be something more like, an easy going but structured disposition, with a tangible sense of focus that is unmistakable)
not out of control or wild by any means... but, intense. not calm.
i feel different this week. and I have a gut feeling it's actually a good thing, a sign that my subconcious is growing comfortable and more relaxed with the changes in my career. now being so focused on my own psych issues, as well as being a somewhat prolific contributor to this community here, and to my own blog.
it was a lot of change, some I had put off for a long time (like starting an actual public journal...this one here)
but, the fact of the matter is, i've now been profitable for 4 our of the last 5 weeks... and really, the worst two weeks were the times I strayed from my plan more than the other 3.
the best two weeks? ya...those were the weeks I did everything right. the process, the planning, the patience, the focus, the rest, the clear minded, the engaged but not fixated disposition... and it all seemed to fall into place.
I'm beginning to feel on an emotional level that my new focus of my revised trading plan will indeed provide the greater consistency that i've been seeking.
and deep down, I don't have words for how cathartic this feeling is.
Anyway, time will tell, but this time... I am starting to really believe, it will be different.
Guess we'll all find out though.
and today, I believe that is the case.
so, it's time to turn some day trading, into some light swing trading.
Again, something that's always challenging for me. If i'm risking 100 to get 300, i usually end up taking 120. etc.
the gbp/nzd long trade I am in right now I feel that way about. the only thing is, i don't have a component in my plan that accounts for how to handle this.
I can wing it of course, and I can also get drunk and drive 1000 miles to las vegas.
So... looks like i'll be taking profits at 1.9880. I don't want to try to develop a strategy on how to let the REALLY solid trades run, while I am in trades that may distract me or influence my insights into how I should structure such a new component to my trading plan as will work best for me.
so, it'll probably take a week or two. not sure. i just know it will come to me, and i'll try it out. if it doesn't work, i'll keep on it until i find what does work.
Also, the nzd/cad and nzd/usd short i have on could give some real pips...but those still fall within my normal trading parameters.
trades that could go 200+ pips... those are something else all together for me.
at anyu rate, i'm happy with the week so far. what's not to like really. 3 real trades, several entries on each (except the gbp/nzd), and all are looking great, and have had at least SOME profit taken out of them.
I have my targets drawn out, and am setting alerts now.
not much new to report...except i'm still updating my plan to some degree. just putting the details in their proper place.
over all though, this is possibly the first week i've started out feeling feel not just in control and coming from a place of clarity... but actually somewhat calm. not relaxed, but calm. this is NOT my natural dispostion. (which happens to be something more like, an easy going but structured disposition, with a tangible sense of focus that is unmistakable)
not out of control or wild by any means... but, intense. not calm.
i feel different this week. and I have a gut feeling it's actually a good thing, a sign that my subconcious is growing comfortable and more relaxed with the changes in my career. now being so focused on my own psych issues, as well as being a somewhat prolific contributor to this community here, and to my own blog.
it was a lot of change, some I had put off for a long time (like starting an actual public journal...this one here)
but, the fact of the matter is, i've now been profitable for 4 our of the last 5 weeks... and really, the worst two weeks were the times I strayed from my plan more than the other 3.
the best two weeks? ya...those were the weeks I did everything right. the process, the planning, the patience, the focus, the rest, the clear minded, the engaged but not fixated disposition... and it all seemed to fall into place.
I'm beginning to feel on an emotional level that my new focus of my revised trading plan will indeed provide the greater consistency that i've been seeking.
and deep down, I don't have words for how cathartic this feeling is.
Anyway, time will tell, but this time... I am starting to really believe, it will be different.
Guess we'll all find out though.