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My simple journal... Read at your own risk.

  • #61
  • Dec 6, 2006 9:17am Dec 6, 2006 9:17am
2. GBP/USD, short, 1.9631, TP - 1.9556, SL - 1.9681
STOP LOSS HIT (-50) 0 for 1

Why did I lose? Probably because I'm an asshole. I set the target's up for a swing-trade style, but used position-trade charts to place it. I'm only supposed to be taking swing trades per my rules. I wasn't paying attention to my charts. I'm going to try not letting losses ruin my attitude, but I need to be honest with myself when I make mistakes. I can't control the market, but I can control my discipline.

My two CAD trades are looking good right now. At about noon, I'll reassess them and move the stops up if I have that opportunity.
  • #62
  • Dec 6, 2006 9:23am Dec 6, 2006 9:23am
5. AUD/USD, long, .7872, TP - .7910, SL - .7848

WOOHOO!
  • #63
  • Dec 6, 2006 9:36am Dec 6, 2006 9:36am
1. GBP/JPY, short, 226.12, TP - 225.09, SL - 226.56
Signals called for cutting losses short and I closed trade (-20) 0 for 2

Why did I lose? Same as the other trade. More importantly, I think I didn't pay attention to a support floor and it bounced off that.

(-70 so far)
  • #64
  • Dec 6, 2006 9:58am Dec 6, 2006 9:58am
4. EUR/CAD, long, 1.5195, TP - 1.5266, SL - 1.5146
PT Hit (+71) 1 for 3

(+1 so far) If I keep this up, I'll be rolling in it in no time (sarcasm). But seriously, with the two losses earlier, this is a good display of proper risk/reward ratio. I keep my ratio at about 1:1.5. Now I just need to get my trades right half the time, trail my winners, and pull my losers once my system shows me it went against me.
  • #65
  • Edited 1:24pm Dec 6, 2006 1:14pm | Edited 1:24pm
5. AUD/USD, long, .7872, TP - .7910, SL - .7848
Stopped by me (-12) 1 for 4

3. USD/CAD, long, 1.1440, TP - 1.1482, SL - 1.1412
TP Hit (+42) 2 for 5
Once this trade was about 20 pips in the green, I put a trailing stop on it. Turns out, I didn't need it.

(+29 so far)

6. GBP/USD, long, 226.68, TP - 227.56, SL - 226.08 (This was made before 12:00pm per my rules. It's not looking good so far, but I'll ride it out since there should be low volatility until tonight. Then hopefully the trade continues in the direction I thought it would.
  • #66
  • Dec 6, 2006 2:08pm Dec 6, 2006 2:08pm
Quoting brick911
The Eagles provided quite an entertaining game... especially Stalworth's one handed grab.
Glad to have you back trading again, but being in the Carolinas I am a big Panthers fan. How dissapointed would you be to lose in the 4th quarter after being up for the 5th TIME!!!!!!!!!!!! UGGHHHHH
  • #67
  • Dec 6, 2006 3:21pm Dec 6, 2006 3:21pm
Yeah - that sucks big! Steve Smith, on the other hand, is awesome. He reminds me so much of one of our local heroes, Allen Iverson. They are both awesome, confident, and have the heart of a million champions. Kinda like T.O. without all the bullshit. Oh yeah, not to pick on your team or anything... as I know you go ballistic on Philly, but does Delhomme always cry like that during games?
  • #68
  • Dec 7, 2006 7:21am Dec 7, 2006 7:21am
6. GBP/JPY, long, 226.68, TP - 227.56, SL - 226.08
SL Hit (-60) 2 for 6
*Maybe I'll close all trades down at NYC close from now on. Not sure yet though... any suggestions?

7. GBP/USD - I made this trade last night. It's already done.
SL Hit (-43) 2 for 7
*I probably could have stopped this one for less loss, had I been awake.

(-74 so far)

I'm sucking ass, big-time right now.

8. EUR/GBP, long, .6760, TP - .6784, SL - .6748
  • #69
  • Dec 7, 2006 7:59am Dec 7, 2006 7:59am
8. EUR/GBP, long, .6760, TP - .6784, SL - .6748
Moved stop to a 5 pip trailing stop (+4)

*I moved my stop on this, because of Trichet's speech. I am not an economics guy, but I saw the EUR/USD going wacky, and didn't want to risk the few pips I had gained. Looking back, my trade would have survived, but I played it safe and I won't beat myself up for that.

3 for 8 - just a tally for me, to watch my good and bad decisions... I know this has nothing to do with money management

(-70 so far - UGGHHH!)
  • #70
  • Dec 8, 2006 10:22pm Dec 8, 2006 10:22pm
Quoting brick911
Yeah - that sucks big! Steve Smith, on the other hand, is awesome. He reminds me so much of one of our local heroes, Allen Iverson. They are both awesome, confident, and have the heart of a million champions. Kinda like T.O. without all the bullshit. Oh yeah, not to pick on your team or anything... as I know you go ballistic on Philly, but does Delhomme always cry like that during games?
I didn't see him cry. When did that happen? Hey and you got to give us credit. We were winning most of the game....
  • #71
  • Dec 11, 2006 7:48am Dec 11, 2006 7:48am
9. GBP/USD... +10

4 for 9 (-60 so far)

10. GBP/USD... short, not looking good right now.


*Delhomme didn't cry, literally. He just bellyached to the refs more than I've ever seen.
  • #72
  • Dec 11, 2006 1:46pm Dec 11, 2006 1:46pm
10. GBP/USD... short, not looking good right now. (-70)
4 for 10 (-130 so far)

This is getting embarrassing. I'm thinking of taking my avatar and replacing it with something that isn't me. Regardless, maybe around my two hundredth trade or so, I'll have learned a few things. Hopefully, I'll be better by then. I'm done 'till tonight.
  • #73
  • Dec 11, 2006 8:05pm Dec 11, 2006 8:05pm
Quoting brick911
10. GBP/USD... short, not looking good right now. (-70)
4 for 10 (-130 so far)

This is getting embarrassing. I'm thinking of taking my avatar and replacing it with something that isn't me. Regardless, maybe around my two hundredth trade or so, I'll have learned a few things. Hopefully, I'll be better by then. I'm done 'till tonight.
don't feel bad, my last 3 trades have been negative too!!!
  • #74
  • Dec 11, 2006 10:42pm Dec 11, 2006 10:42pm
Quoting brick911
10. GBP/USD... short, not looking good right now. (-70)
4 for 10 (-130 so far)

This is getting embarrassing. I'm thinking of taking my avatar and replacing it with something that isn't me. Regardless, maybe around my two hundredth trade or so, I'll have learned a few things. Hopefully, I'll be better by then. I'm done 'till tonight.
Hi Brick911


don't feel bad, I lost 200 pips since the begining of this dark Dec.
I took a couple of days off refreshing my head a bit, and now i come back with a good 20 pip profit!

so...just try to take forex away for few days and u will come back strong!
"Quality means doing it right when no one is looking"
  • #75
  • Last Post: Feb 28, 2007 6:36pm Feb 28, 2007 6:36pm
I ran across this thread today, and saw it stopped in Dec. I saw myself in so many of his posts. Let's face it, currency traders are a little "different" from the mainstream average Joe.

I have an idea what happened there, I hope I'm wrong. But if I'm right it's because I've done the same thing. More than once. Get excited over a method, throw thousands into an account, jump in when the indicators say to, without taking that necessary step back, just go for broke. Then go broke.

It's easier to learn to handle a rattlesnake. You always know which end is gonna bite you!
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