It was a tough battle, but I managed to profit today. I missed 2 trades early on, but they were really only good in hindsight. I let boredom sucker me into a bad trade, and then took what was probably a revenge trade shortly after, so I started out with 2 losses. I was upset at myself for not closing them each for 1/2R when I knew they were losers. I just sat there hoping my stop wouldn't get hit, which of course it did. I scratched a third entry (this time determined to kill a trade before taking a full stop) but then entered again when it looked like I was right. The problem was that I got slipped by 3 pips! Just bad luck I guess. I took a good breakeven trade although it should have been a small winner. After the next plays yielded a small win and a scratch, I was once again slipped for 3 pips when trying to close out at breakeven. Bummer! I finally caught the next move with 2 parts worth a total of 4R.
I took a couple trades that were not good, and got some unlucky slippage, and I also failed to maximize profit on a winner that came after some of that frustration, which led me to seek greater profit instead of locking in the solid win that I had. Tomorrow I will make sure to analyze whether a trade is being taken and managed for emotional maintenance or for reasons associated with price action.
Today's result: +1R
No comments:
Post a Comment