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:
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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

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Many friends in our trading community replied to him... this is my reply.
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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!

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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.