Baruch's Forex System Journal
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I really need to learn to trust myself. I could have easily made a few hundred pips today. Ah well. The good thing is, there will be plenty of days to make the pips.
Great trade on the eur/usd, rax. Seems like an hour or two after I decided to get out, the bottom fell out of it; same with the gbp/usd.
Baruch,
As you said, a profit is a profit. I try and justify the missed potential by telling myself that it could save me of an equally powerful move against me sometime in the future. The mind is a powerful thing; it's amazing what you can talk yourself into when it's necessary.
Great trade on the eur/usd, rax. Seems like an hour or two after I decided to get out, the bottom fell out of it; same with the gbp/usd.
Baruch,
As you said, a profit is a profit. I try and justify the missed potential by telling myself that it could save me of an equally powerful move against me sometime in the future. The mind is a powerful thing; it's amazing what you can talk yourself into when it's necessary.
Quote from SteveL91:
I really need to learn to trust myself. I could have easily made a few hundred pips today. Ah well. The good thing is, there will be plenty of days to make the pips.
Great trade on the eur/usd, rax. Seems like an hour or two after I decided to get out, the bottom fell out of it; same with the gbp/usd.
Baruch,
As you said, a profit is a profit. I try and justify the missed potential by telling myself that it could save me of an equally powerful move against me sometime in the future. The mind is a powerful thing; it's amazing what you can talk yourself into when it's necessary.
Hi Steve,
I'm in the same boat as you - or rather: I left the boat too early like you...
Well, we must learn of what our friend raz is doing - letting our winners run marathon. Maybe it's because we are more afraid of losses than raz?
Quote from SteveL91:
I really need to learn to trust myself. I could have easily made a few hundred pips today. Ah well. The good thing is, there will be plenty of days to make the pips.
Great trade on the eur/usd, rax. Seems like an hour or two after I decided to get out, the bottom fell out of it; same with the gbp/usd.
Baruch,
As you said, a profit is a profit. I try and justify the missed potential by telling myself that it could save me of an equally powerful move against me sometime in the future. The mind is a powerful thing; it's amazing what you can talk yourself into when it's necessary.
steve,
you are talking about "justifying missed potential". i thought about this often, too.
i think it is not necessary. you always see alot of "missed potentials" everywhere when you start looking for it. you could have sold all your internet stocks in early 2000, bought the dollar 2 years ago, shorted it in february, whatever. everywhere you look - missed opportunities. i try not to look for them. i try to look for the future opportunities.
and afterall, you can miss 999 out of a 1000 opportunities and still only one can change everything and make every other missed opportunity look like nothing.
good trades,
rax
I'm not so much afraid of losses, I don't think. When I was watching my positions before I went to bed, they got to -100 and I was fine; didn't phase me a bit. I think I have more of a problem risking a profit turning into a loss. Something for me to work on. I was half asleep when I closed the positions, so I'm not even sure why I did it. Guess it's time to start writing a journal of my trades.
I think letting winners run really comes from three things: patience, confidence in your analysis and above all else: confidence that you'll be able to put on more winning trades. I'm still working on the last two.
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