20-04-2011- GU and EG Long

I know it's pretty strange. If I decided on a EG long, then I should have Longed EU right?!
Of cos.... but then this boat moved very fast before I could catch it. Or rather, I closed off the trade last night as already TP-ed. So not really a missed boat, just a boat i got off prematurely. In Forex, it's really ok as the most Important matter is that i got on the Right Boat!

And since I already have GU since last night, it's quite torturous. It's a slow sampan boat. And when it finally moved abit faster with the stream, a GBP News came and even when I can catch a glimpse of shore ahead, the boat suddenly engaged into a reverse mode! Nevertheless, I have confidence it's the right boat - Mayb I'll just have to sit and wait for a while for destination to be reached.

Ok, enough of the melancholy Story telling. Here's the analysis.

19-04-2011- GU Long

20-04-2011- EG Long

19-04-2010 GPYJPY Short then Long + Trading Psychology

Email Extract from a trading friend:
-----------
On Tue, Apr 19, 2011 at 8:38 PM, XXX > wrote:

Hi ,

I wonder if anybody face the same problems before? If yes, how did you overcome this problem?

Sometimes when I enter a trade, the trade will go the opposite direction and I will take a cut loss. After that, it will continue to advance for a big move.  ( thus, i miss out the big move)

But I dont dare to enter, because if i entered right after i cut loss, i might have to face the risk of the price reversing.  ( psychology trauma ). 

I find that this happens to me alot of time. the question is, how to minimize such occurrences? (very dui one leh.... )

Regards
XXX

-------

Many friends in our trading community replied to him... this is my reply.
------------
Hi Shun,

I'm sure we all go thru this. Thru this inevitable process, we also learn more about ourselves, our style of trading.

I also have another similar problem - in different variations:
-Initial view is wrong, entered trade, cut loss - stoned cos didnt reverse trade.
-Initial view is right, but due to "my" sentiments of market, entered a different direction, cut loss - stoned. cannt react.
-many more versions of such psycho battles...

Yest I had another of these. namely Version 2, See attached. This time is reacted.
Then I learnt something abt my character, somehow the mood already tell me something is not right yet i chose to ignore it so many times. I'm sure it will happen again, i hope to find the right psycho to deal with it.

Wishing you well. =D
Huat Ah!-----------

I sincerely hope I will be able to achieve it. Months have passed. My freelancing coaching work is decent and covers my basic bills and essential needs. Emotionally i am feeling more secure and at peace. I am sure it has affected my trading, which is more laid back now. It's a good thing to knw that I dun depend on it.

Some months back I told a few trading friends that I am in my "ebb" now... it's a term we use to describe the tide ebbing and flow. Ebb means (backwards, decline, reclining) and Flow the opposite.
I promised I will make small and steady steps to get back.

Wish me the best!

--------------

19-04-2011-GBPJPY Short then Cut loss, Long n closed!

13-04-2011 EURUSD Long

13-04-2011 EURUSD Long

-A rather simple trade. Decision made from Basics (Swing High, Swing Low) n Levels.

No frills; Clean n clear cut.

Trading performance sucks BIG TIME!

My performance after the last posting is (note:present tense) disappointing ... still red n green, red n green. it's damn irritating esp after I have posted a good performace report!

How bad? Let's just say.... very, bad enough to return every bit of $$ i have made in the past 3 months...
should i be "pan-tang" (superstitious) and not reported the decent performance? haiz....

supa vexed...

Trading Results for Dec 2010

Pardon me for my late entry on closing month of Dec 2010 / WY2010!
Given my trading account is very small, I am still very pleased with the results for last month.

*P.S, before u go WOWWW!
my trading account is below $2k btw.
So if u think 40% return is gd for the month, if u work back the sums,
i prob started the month with $1.2k (max) + 40% ($800) = $2k.

Shan't bore u with details on the amount of risk i take. & if u think this can be consistent, think again. In a Biz, there are low periods too... so u think u can survive on $800 a month?

Since the year has concluded, I wish to set some new year trading resolutions:

1) Work on current trading account size to the amount I started the account with.

2) Cont. to employ a take max profit at highest probability (no. of pips).

3) Once account recovered to pre trading amount to work on riding the trend.

4) Cont. to increase lot size to exposure of abt 5% of trading balance (of each work day).

5) Aim to achieve 8% p.w. growth on account balance (as of each week).

What i really need to do now is to calm my nerves when trading, relax, +ve self talk, sit back n let it unfold in front of me - showing myself how Blessed i am.