Chinook's EUR/USD (E/$)Mumblings

csaunders,

We're all human. I took December off because I wasn't quite focused, and I started to become afraid of losing money. I was doing well psychologically but I started to be afraid... and I wasn't even risking my money at this point, but the houses. Expectations was the cause of my fear. I had high expectations for my first year which I didn't meet and I started to become defensive from every price movement.

Expectations caused a lot of mixed emotions in me, and it became difficult to follow my rules. There are many posts about people talking about accepting risk. Majority of people know this, but may not understand it.

"If you're afraid to lose money then you should quit trading." Hmm... I then asked myself why I shouldn't be afraid of losing money. My reason is my edge. I thought edge was psychological, but maybe it refers to statistical edge. If my method makes consistent profit over a series of trades, then why should I be worried or afraid from what a single trade does... even on news release? I know that I have x% accuracy, with x reward/risk ratio, with x#'s of drawdowns, etc.. etc. And I will come out ahead in the long run.

What I don't know is the order the winning and losing trades are going to happen.

I have no position myself. I'm watching to see if my setup develops or not. I ask myself, am I playing in the casino... or am I the casino?

I'm actually feeling pretty good about myself. Hope some of my confidence can rub off on you :D

good trading,
Andy
 
breakeven trades for me... Regular account closed at b/e, and prices slipped past my b/e stop on my mini account. I wasn't sure if they were processing my order, or if my stop wasn't going to be honored. I didn't want to close it manually because it could reverse my position and go long. Well 20 minutes later it closed it at breakeven. I guess order was just processing :)
 
Hi guys,

Thanks for keeping the thread alive. I've been busy with system testing and automation. I'm currently running two systems on ES and EURUSD. I started writing my own VB program for connecting to IB's API and sending orders generated by Tradestation. If you're trading beyond scalping, I recommend backtesting your ideas, it'll be worth your time and you might be surprised with the results.
 
Just think, sometime this summer we will be bitching about days with a 30 pip range and weeks < 100 and we will be reminiscing about weeks like this one. :) :) :)
 
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