What is hip, hot and plays bass?
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Good start to the day, with the G News Release, buying GC, GN, GA, GU and shorting EJ, CJ, AJ.
Could do better to HOLD those trades longer--saw 30 min. bearish divergence on several Js, but exited those shorts too quickly.
Later there was a (30 min.) GJ double top that was an obvious short that went for 40+ pips, but I just sat there and watched it.
Did well noticing the bottoms forming on EA, GA, EN, GN and trading them long again. Should have held EC, GC, UC much longer, as -C was steady during London and NY. Just felt too tired and stopped trading an hour after NY opened.
One big entry (sizing) error. Don't do that again.
Need more sleep....
Could do better to HOLD those trades longer--saw 30 min. bearish divergence on several Js, but exited those shorts too quickly.
Later there was a (30 min.) GJ double top that was an obvious short that went for 40+ pips, but I just sat there and watched it.
Did well noticing the bottoms forming on EA, GA, EN, GN and trading them long again. Should have held EC, GC, UC much longer, as -C was steady during London and NY. Just felt too tired and stopped trading an hour after NY opened.
One big entry (sizing) error. Don't do that again.
Need more sleep....
- #184
- Edited 9:54am Jun 8, 2018 8:23am | Edited 9:54am
Reminders:
Wednesday and Thursday this week I did well in pre-NY trades, then I entered a new basket of trades after NY Open, but before news 30 minutes after NY opened. And on both days the news reversed my basket of trades, and I spent the rest of NY digging out from the holes I needlessly created.
And on Friday, after C news I jumped in WAY too soon--wait longer after news spikes, like at least 15 minutes with a strong reversal, ok dude?
Patience--wait for the news, then look for trades, then open trades.
Wednesday and Thursday this week I did well in pre-NY trades, then I entered a new basket of trades after NY Open, but before news 30 minutes after NY opened. And on both days the news reversed my basket of trades, and I spent the rest of NY digging out from the holes I needlessly created.
And on Friday, after C news I jumped in WAY too soon--wait longer after news spikes, like at least 15 minutes with a strong reversal, ok dude?
Patience--wait for the news, then look for trades, then open trades.
- #186
- Edited 11:39am Jun 18, 2018 11:01am | Edited 11:39am
..and it is back!
Stuff to work on:
* Revenge-trading melt-downs that kill an entire month's worth of profits. Just stop that. Close charts and walk away.
* Entry errors--like today's AN short--which was entered as AN long. I caught it ten minutes later, with minimal damage, but still, dude.
Good stuff:
* Last Friday closing half my basket of positive J longs, and letting other trades cook until done.
Stuff to work on:
* Revenge-trading melt-downs that kill an entire month's worth of profits. Just stop that. Close charts and walk away.
* Entry errors--like today's AN short--which was entered as AN long. I caught it ten minutes later, with minimal damage, but still, dude.
Good stuff:
* Last Friday closing half my basket of positive J longs, and letting other trades cook until done.
- #189
- Edited 10:46am Jun 22, 2018 10:18am | Edited 10:46am
Good closing before CAD news!
With traders anticipating good C news, C was being bought several hours before C news. Unfortunately, I bought C too late, at Support on several pairs, and ate some unnecessary losses. This remains a bad and expensive habit--impulsiveness.
I've started to see a counselor, who is helping me with this problem. I'm also reviewing this book:https://www.amazon.com/Psychology-Tr.../dp/0471267619
The last two days I've entered trades within a few minutes after sitting down with my charts. My lack of time watching prices has resulted in big, unnecessary losses when I've started my trading days. Then, after the losses I look around, and play catch-up with too large size, my anxiety higher and with a reduced ability to see good set-ups. Not good.
This could have been a big
week, had I been patient and watched prices for a while and skipped the impulsive, bad early trades.I'm going to buy an egg timer, and set it for 30 minutes--no trades until after 30 minutes of chart watching.
I'm considering trading only the first two or three days of the week. Frankfort open on the first day of the trading week has consistently been my best time and day of trading--then Tuesday and Wednesday are usually profitable, but less so, and by Thursday and Friday I often give back my profits--and more-- made earlier in the week. I suspect that the main culprits causing this pattern are too little sleep, almost no exercise this week, too much screen time, fatigue, and loss of patience.
The good is that I have been profitable every day this week--my goal in trading (thank you, Profitfarmer).
Watching 23 pairs with patience and trading small size offers enough opportunity to continue being profitable each day.
Time to shut down the charts and get outside.
- #190
- Jun 22, 2018 12:51pm Jun 22, 2018 12:51pm
- Joined Sep 2017 | Status: Trader | 1,642 Posts
{quote} Agreed! And thank you for your comment. With traders anticipating good C news, C was being bought several hours before C news. Unfortunately, I bought C too late, at Support on several pairs, and ate some unnecessary losses. This remains a bad and expensive habit--impulsiveness.
Indeed, usually, before the news, the pair is moving in one direction and on the news time it spikes back.
Usually is not always, therefore I thought that this time is one of those days when it will continue to move down ... but was not the case. I wanted to hedge a part in case I am wrong, did it only in my mind.
Here's the 30 minute sand-timer that I used today--barely. After starting the timer I saw set-ups on Daily charts that I liked after only 2 minutes and opened a basket of trades. 30 minutes is a long time for me to sit quietly and watch prices. I want to wake up earlier and wait the full 30 minutes.
Relaxing piano music was helpful--at least to contrast the noisy lawn mowers outside.
I also bought a cumulative timer, to track my weekly screen time--the goal is to keep that number low, and to get out of the house and away from the charts quickly each day.
Relaxing piano music was helpful--at least to contrast the noisy lawn mowers outside.
I also bought a cumulative timer, to track my weekly screen time--the goal is to keep that number low, and to get out of the house and away from the charts quickly each day.
I awoke tired today and traded +C off Daily charts on NC, EC, GC, CJ --and also entered a ridiculous GA 30 min. short trade too, that was bouncing long off Support. C was clearly strongest then, and A was middling and ranging, but because I didn't bother to open the GA 30 min. chart and see the GA Support after a massive move, and to also check AN and see that it just hit resistance, I ate a nonsense loser.
Too tired to trade sensibly now, so I'll post that GA chart, and a beautiful 30. min. EC breakout of which I caught only a small part.
Many nice moves start 1-2 hours before NY opens, and I'd like to be ready to trade every day then.
Too tired to trade sensibly now, so I'll post that GA chart, and a beautiful 30. min. EC breakout of which I caught only a small part.
Many nice moves start 1-2 hours before NY opens, and I'd like to be ready to trade every day then.
- #194
- Edited 4:22pm Jun 28, 2018 3:08pm | Edited 4:22pm
After a tired, sloppy week of trading, of waking up too late, of not paying attention to emerging trends, and not getting enough sleep it is time for Chinese food, red wine and cutting loose before the last trading day of the month. It is all about soul. 
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