Baruch's Forex System Journal
- Thread starter Baruch
- Start date
- Status
Quote from SethArb:
ok the week is young ( LOL )
in EUR this am
not much to say ... I averaged down instead of covering for a flat
and going long (?)
then went long but sold too early or I would have made back most of the prior gains
going to sleep soon
Hi SethArb,
Sorry to hear that, but why did you average down??
Absolutely. I also think you need to have a certain level of acceptance: acceptance of the fact that you won't always be right, and there's nothing wrong with that, and acceptance of the fact that it's simply not possible to capture every little move (especially the short pullbacks and corrections) and that too is okay. I think these two things - especially the latter - are what I'm struggling with the most right now.
It helps to have (also) a fundamental view, Steve. It's more easy to hold your position if you know why it has to move in your favour. Losses? Well, they are business expenses. It's not free to do business. You have to pay some money to do it. Big companies pay a lot of money to do their business. And so what? We must treat trading as a business.
I agree on all accounts; that's why I've been looking into the fundamentals more. Right now, I'm not doing poorly, per se, but I think as I develop my point of view more, I'll feel more confident about things and do much better. I just need to (and do) keep telling myself that I'll get there eventually...
- Status