Bad Trade Thread, Lets Talk About It

lost 12% in the first week, all of my trades was bad

a place where you can let some steam off.

Especially for those new to trading in this crazy market.

All of us have made bad trades, especially in the beginning. It is human nature to want to be right and subsequently our judgement becomes clouded when a trade goes against us. It is important to learn to like and welcome losses. It is more important to know when to let them go and learn from them.

Happy Trades,
fxstir

'Trading is 100% psychological' - Van Tharp

i notice when i first started trading i had a trading plan and when i was down so many pips my plan told me to close the trade but i didn't because i wanted to be right, bottom line follow your system to the T.

i hate the cable and olympics http://img.picshare.at/1335547378_computer_021.gif

Vote On The Poll

nobody knows

<----- is confused

Hi guys, like the idea of the thread. We can always learn more from our mistakes than our successes.
Looking for input on my latest trade:
I went long on eur/aud at 1.2790 SL:1.2690 TP1:1.2890, TP2:1.2990.

Thought it was a good trade but looking bad now. Any thoughts appreciated.

in soon time price will show to you ...you was right or wrong....

what was your basis for taking this trade

I was basing it on the upward trendline on the daily chart and that a doji had formed right on the trendline. Also, looking at RSI it had turned at these levels on previous occasion.

Anyone know a good place a can do charts on net to post here. don't have access to MT4 and forexpros does not seem to work...

didn't follow my system... decided to gamble a little... lol and I lost on nzd/usd, aud/u. Surprise surprise lol. I overtrade some times and it gets me in trouble. Only take the big moves... I can post more later about the actual trade.

https://www.tradingview.com

thats what happen on most bad trades, not following there system

Thanks Torkay

Good Thread!


glad i did hit the search buton before openening a new thread with the same content..


here i will post ONLY the fucked up trades.. and why what i was thinking during those trades...

i guess most people will and can learn only on bad trades..

it doesent mather what strategy ,system u trade.. as long as your mindset/psychology isnt Nsync u will lose...

and as i have a bad drawdown run atm ... and i know where i have to work on.. this thread will help me.. get back on track!



First dont fuckin trade *setups* out of your trading plan .. it messes up your head and your statistics.. and they get useless.. if you try to improve something here and there.. based on setups taken wich simply dont fit in your plan where u worked on for a frickin century!!!... etc...


Second... Be Patient! i know its a stressed word.. but that is my frigging problem atm! .. i have a 9-5 .. and if i find time to trade intraday... i get
impatient all to easy! (wich btw. is also a basic problem in my life)

instead of taking only setups wich fit my plan/criteria.. i take even halfbaked ones...!

OK.. nextup.. Bad Trades i took/take .. all the way...

cheers

Hey ,Bad Trade at Aussie!


here is the story .....

1. Impatient Entry

well openeing up myMT4 and seeing a nice range on M1/M5
wow , i thought looks like accumulation , with a sign of strenght
on the righthand side...!!! where can i get in and ??? fast!!!

>nice breaks above on increasing volume!

>>a breakout scenario . i could take!?!

>>>hmm, ok, price gets rejectet and trades into the range again..

>>>>ok ,but it comes back .. i say if it closes above the resistance i.. go in long!

= good it did!.. so iam long..!!


2. Standing on MY Toes

well price aint moving at all it stalls..

and i begin to think why the fuck i bought at resistance anyway?
(well good thought after the fact! punk!)

well i played a breakout! .. but i didnt wait for a crytsl clear breakout
nor a crystal clear retest of broken resistance!!!.. fuck !!!ok..

now waiting time.. *could* see some absorbtion action..!?!

na ,price just hangs around and rotates.. ie. not ready to move any further y up yet!

BUT... no real signs of weakness.. thou! so still waiting and Hoping .. me silly,
allready on my toes!!

3.Capitulation

ok price has a right to correct me thinks.. give it time to breath!
and wash out some longs the way down.. gathering some fuel for final atempt to break....

i allready think . well i only want to get stopped out if iam wrong!
so i say i will let SL get hit.. wich sits below the range!


ok now i see bigger downbars on good vol! iam getting worried.. and start to say again WHY THE FUCK! .. why so impatient! ... why not buying support!!! why such a lousy breakout! wich wasent even a breaklout at ALL.. why not getting out as soons as the market didnt respond in thefavour of my position!?!

well i capitualte and let the SL geting HIT .. i deserved it! once agin!
and sure it did get HIT !!!


Conclusion:

My Problem is Impatience!!! wich leads to friggin bad entrys!!! ..
i have to stay cool! .. i sure can talk the talk! but can i walk the walk!

letz see...