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Uncle's Trading Journal
- Thread starter Uncle
- Start date
Went long 600k at 1.4481 and got out at 1.4501. I said that the previous trade was the last one and yet I took the trade --
Even though results were fine I know I was gambling there and when I look back at this journal -- this is exactly the behavior that I am trying to eliminate..
Account value is 18,861 but had a 16 handle prior to this last trade..
Will have to look at what I did more objectively later tonight or tomorrow -- I'm sure there are some lessons for me..
Even though results were fine I know I was gambling there and when I look back at this journal -- this is exactly the behavior that I am trying to eliminate..
Account value is 18,861 but had a 16 handle prior to this last trade..
Will have to look at what I did more objectively later tonight or tomorrow -- I'm sure there are some lessons for me..
Reviewing my trades --
Trade from 9:30: bet direction was fine, however once it double bottomed at 1.4480, and then failed to get through 1.4490, I should've considered taking it down earlier.
Trade from around 10:30: bet direction also good but (a) should've used wider stop (below 1.4465 would've been good), and because of (a), I should have waited for better spot to go long so that I don't have to use wider stop.
The last trade I made was a bad one because my thinking was clouded. I knew at the time that what I was doing was wrong/gambling but on the plus side even then I set a mental stop which is better than I had done before.
CitiFXPro was absolutely horrendous today and couldn't get a good fill or stop because market was moving too fast on 3 occasions which cost me money and just added negatively to my lack of sleep.
I also hesitated once on the pulling the trigger on the stop -- convinced myself that it was going to bounce back and froze for a few seconds which could've cost me dearly. Will be considering putting in an actual stop next time instead of mental stop especially if less than optimal conditions.
Will not be taking any trades tonight. Watching the 83.50 level in the JPY -- held so far but if goes through think equity market will follow as recent correlation has held in the 3-4 days.
Trade from 9:30: bet direction was fine, however once it double bottomed at 1.4480, and then failed to get through 1.4490, I should've considered taking it down earlier.
Trade from around 10:30: bet direction also good but (a) should've used wider stop (below 1.4465 would've been good), and because of (a), I should have waited for better spot to go long so that I don't have to use wider stop.
The last trade I made was a bad one because my thinking was clouded. I knew at the time that what I was doing was wrong/gambling but on the plus side even then I set a mental stop which is better than I had done before.
CitiFXPro was absolutely horrendous today and couldn't get a good fill or stop because market was moving too fast on 3 occasions which cost me money and just added negatively to my lack of sleep.
I also hesitated once on the pulling the trigger on the stop -- convinced myself that it was going to bounce back and froze for a few seconds which could've cost me dearly. Will be considering putting in an actual stop next time instead of mental stop especially if less than optimal conditions.
Will not be taking any trades tonight. Watching the 83.50 level in the JPY -- held so far but if goes through think equity market will follow as recent correlation has held in the 3-4 days.
Quote from Uncle:
Out at breakeven --
today's earlier action making me more conservative on the risk side and got out early.. will re-evaluate.. I am trying to stay away from trading after this morning's performance but it's really hard to get away from my screens..
yen pushing down on support at 83.50 -- been hitting on that level for a couple of days now and has managed to bounce back -- watching it closely as it may have ramifications on other markets including equities and EUR