Daytrading Currencies

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Quote from Instant Karma:

Sometimes when i trade a setup, it's not 1 setup = 1 trade...it's 1 setup = 1 or multiple trades until the whole process shows a profit.. size varies according the P&L, the deeper into the red the greater the size...
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Adding to losing positions or betting higher amounts to recover losses?:confused:
 
Quote from Instant Karma:

...that's right... all the don'ts.. i'm a bad boy..:eek:
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Keep getting into all-or-nothing trades like that and you'll land on the 'nothing' result.
 
With 2 losing days so far, one of which being substantial (1.12%).., I've pretty much reached my quota for the month... trying to play safe here..


+86.01 USD


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I tried to catch a bottom in EUR/USD between 4 and 6EST to see if i was getting better at it.. nope..

Could have been an easy day since the setup in GBPUSD was unusually mellow and easy to trade..


+50.04 USD


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Awful trading..actually this has nothing to do with trading.. more like a brat having a tantrum...

In EURUSD, price started moving sharply higher and i thought i was going to get a setup soon but then price reversed quickly down and i got ticked off.. So i went into revenge/tantrum mode and i tried to catch a bottom(around 4-4:30am EST) i got run over by a freight train...
Eventually i bought at 2271..held steadfast for an hour and made 10 pips with 640K size...bringing the counter to down $4 (after being down $600). Seconds after i jumped out price ran 25 pips in a rush..

...and then i did it again..not wanting a down day..but this time it worked...whatever...

A day like today does not invalidate my trading (core) strategy because it has nothing with it...

I have to grow the fuck up and learn how to be patient... or trade a faster time frame that gives 2 or 3 signals a day consistently..so i don't have to wait too much...


+62.96 USD


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Quote from Instant Karma:

Same shit as yesterday...only worse.

If i want to be profitable, I'm gonna have to get a lot smarter than that.

Back to square one.


-1,832.25 USD


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I tried to show the flaws of your strategy , go back and have a think about it
 
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