Uncle's Trading Journal

Quote from Uncle:

as stated on my first page, I intended to trade at close to the full leverage available to me.. first to limit my ability to double down on a losing trade (which i know is a weakness of mine) and 2nd as a way to naturally increase/decrease position size as my account size moves up and down

I control my risk/anxiety by keeping my stops small and sticking to them.. I run into problems when either market gaps over my stop, or when I am not disciplined enough to take my stop (usually when i am tired or lack focus). The first is just cost of doing business but the second is up to me and I can control better..

as I trade for 7-12 pip targets I know I can always quit and tomorrow I will have many more 7-12 opportunities.. I hope to get good enough to recognize when the 7-12 could turn into 20-30 pips and maximize but my goal generally is to be in and out of a trade as quickly as possible (hence my 30 minute pseudo limit) -- I realize that I will miss out on the large trends but I will have a better chance at avoiding the big moves that will wipe out my account..
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Are you prepared for 20 to 40 pips slippage ?One day it will happen.
 
Quote from oilfxpro:

Are you prepared for 20 to 40 pips slippage ?One day it will happen.
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yeah i got a taste of that a couple of weeks ago -- my account value dropped 8k over 3 trading sessions (40%).. takeaways from that were to use real stops on days like that instead of mental ones.. also will consider not trading at all after attaining wider than expected stop losses
 
So silver's crash has begun.. and it looks like the EUR is jittery on the heels of that (can't find any other reason for the erratic behavior) feels like risk is to the downside.. watching Silver closely and looking to take a short in the EUR around 1.4805 or better..
 
Quote from Uncle:

re-entered short 650k 1.4810.. stop 1.4820.. target below 1.48
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stopped out.. this market is going to kick my ass.. very erratic
 
silver coming back up -- EUR still erratic but trendline is up.. i got completely whipsawed my account is down a couple g's right.. very close to calling it quites.. one last trade to see if rights me up..

i guess the silver move was to take out all the retail guys who were leveraged and now it just gets back up.. somebody will concoct some story about why silver crashed and make it sound convincing..

i guess EUR goes back up with it?
 
Quote from ammo:

silver down because they nearly doubled the margin
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I thought that was known last week? in any case EUR trading off the Silver now
 
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