Baruch's Forex System Journal

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Quote from SteveL91:

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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Yes, that was what I meant: "risking a profit turning into a loss". I hate that.

P.S. You can publish your trades here.
 
Quote from rax:

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
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Good point, rax. I tend to beat myself up over missed profit opportunities when my prediction was right, but I couldn't see the trade through. Today's eur/usd, gbp/usd case in point. The good thing is I can let go of it easily, but it definitely pops up after I've realized things worked out nicely in my favor.
 
Quote from Baruch:

Yes, that was what I meant: "risking a profit turning into a loss". I hate that.

P.S. You can publish your trades here.
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Thanks for the offer. I may start to do that.

Time to get some lunch. Enjoy the rest of your day (night in Europe?).

Steve
 
the thing that was holding me back the most in my trading was when i set me goals like "i want to make 100 pips a week" or somthing like that, "i want 500 pips a month". all BS!
now im just leting it flow, of course my goal is to be profitable and of course to make 100 pips or more a week, but i dont think about it too much. the pressure from those old goal was not good for me because it made me cash in too early, pull the trigger on a loser too early and being too active about the market with bringing home loss and then trying to "fight back". now i like the zen attitute. meditate. relax.

but actually at the moment im meditating about closing my eurusd because it was +115 ealier now +84... maybe i change sides soon... getting nervous again...
 
Quote from rax:

the thing that was holding me back the most in my trading was when i set me goals like "i want to make 100 pips a week" or somthing like that, "i want 500 pips a month". all BS!
now im just leting it flow, of course my goal is to be profitable and of course to make 100 pips or more a week, but i dont think about it too much. the pressure from those old goal was not good for me because it made me cash in too early, pull the trigger on a loser too early and being too active about the market with bringing home loss and then trying to "fight back". now i like the zen attitute. meditate. relax.

but actually at the moment im meditating about closing my eurusd because it was +115 ealier now +84... maybe i change sides soon... getting nervous again...
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Still short?
 
Quote from SteveL91:

Thanks for the offer. I may start to do that.

Time to get some lunch. Enjoy the rest of your day (night in Europe?).

Steve
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I hope so. You can start after your lunch...

No, it not yet night in Europe. But evening.
 
eurusd really bounced off the lows. maybe just some big banks traders in europe dumped their positions to go home with a cleaner account... but i see the eurusd lower. if not i have the usdchf in the market.
 
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