Frustrating Day

What the hell was that, I have quotes showing 1.1739 and 900pips in 90seconds, I said wild but that's ridiculous ...

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You should have seen the Bloomberg Asia anchors, they did a double take seeing the quotes and didn't quite know what to do with themselves, and then carried on as if nothing happened. This had better not have anything to do with the NFP.

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kmiklas said:
Exercised this morning, ate a good breakfast, got in front of my screen on time, made about 80 trades, fought hard to keep my gains and avoid losses.. and finished the day up $13.
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80 trades? Are you sure you're not over-trading, dude? It also sounds like whatever system you're trading doesn't have a statistical edge.
80 coin tosses with a 1:1 payoff would have about the same performance.
 
stevegee58 said:
80 trades? Are you sure you're not over-trading, dude? It also sounds like whatever system you're trading doesn't have a statistical edge.
80 coin tosses with a 1:1 payoff would have about the same performance.
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Yes, you are correct. I slept on it, thought about it all night, and that was my big lesson learned. I was over-trading; trying too hard to get on the right side of a swing.

Those who said that I would learn from this were right. Thank you. Already today, I'm being more careful and selective about the trades that I make. I'm not getting whipsawed as much.
 
Peeps, I have to say again, thanks for your feedback.

I have been much more careful with my trades today. I've only reversed four. They've all been profitable, and I'm happy with my subsequent position. :thumbsup:

Looking back, I think that I was just over-trading out of frustration. How do you handle it when frustration hits? I know they say that you should never trade out of emotion, but for better or for worse, we are human beings. Do you walk away for a while, or shut down for the day?
 
Been there did that..a lot disappointment in trading . I ve had years of successes followed by failures and back to success..its a roller coaster of emotions , disappointment and renewed passions..vowing never to make those mistakes again only to repeat them a few weeks later after a row of new success after having tossed out those new rules you come up with. Passion and love for the game will keep you returning.untitled.png
 
Atleast you didnt dump $330 on the first trade, then spend the next 2 hours pulling it back to just down $300 lol

2weeks of careful profits wiped out in 15mins, no more careful on the profits is key, need to let them run to compensate for when they run against.
 
The stock indexes are in a contracting triangular pattern - as a breakout/swing trader this is exactly what I do no trade. You get big velocity breakouts that fail in these conditions, only when the weaker hands are flushed out will the true move launch. Gold, silver, and GBP have broken out of well formed weekly/monthly chart patterns and historical extreme COT readings - hence the volatility expansion - there may still a lot more down side to come on gold & silver why GBP has made its measured move already.
 

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10 successful paper trades in a row before I start to trade again ...like a sobriety check. If I miss one I start at zero until I get 10 in a row. Frustration should be lower
 
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