Saturday, April 13, 2013

Shit trading week....

I have a set of rules that I
try and follow...

1) Sell Batman  Buy Camel Toe.
2) Never double down trying to salvage a lose.
3) Never exit a position until till you see a Camel Toe or Batman
4) Never put on a Trade for the sake of it without Camel Toe or Batman evaluation.
5) Never ever have a position on just before a major economic news announcement.
6) Be care full when trading I got confused after trading USDCAD then to GBPUSD
7) Always leave enough margin available so you don't get auto sold...

Well dogs since my last P &L Report I broke all the above rules. Why? Ego......The need to impress you shit heads who follow this shit blog........


Look at the trades Margin Call Box....The first one went against me. I doubled down then tripled down. Went from bad to worse, on the monthly chart I knew I had a good bet, new a turn was due, So I keep open all night at 3 in the morning that -2600 trade was auto sold by FOREX.Com not enough margin to cover.  The trades over night went about 10k in the hole. Well the next morning All my trades are blue, and I am shocked when I discover they sold my 4 bet....As soon as I canceled out the loss, I exited the trade.Big mistake, the trades that were in the money shot up to a 5K profit had I not but the 1 bet on I would not have been forced out. I would not have exited so early. my p&L would be at 12k.....

Jobs report, I have been trading mostly USDCAD So a buy is betting USD will do better than CAD a sell being 180.

I knew the jobs report was going to be shit, So I broke rule 5. This is what happened. I switched to GBPUSD, I want to bet against the USD. So I take out a Sell with a lose stop loss.....That would have fine selling USDCAD but with GBPUSD the opposite.....

I see the jobs disaster on my BBG terminal..YES YES YES
Instantly I'm stopped out. Major trade execution error. WTF

That's trading..............................


6 comments:

  1. told u man, if u don't understand why how and where they manipulate you, stay out of Forex because you're just Bank roadkill walking.

    ..back to demo and study this site long and hard www.daytradingforexlive.com

    ReplyDelete
  2. SM:

    Your rules need some work. Breaking your rules=no belief in them. Time for a rethink.

    have you run your simulations? Are your losses covered by your winners? Can you live with your winning percentage? If you have a sustained losing streak, do you change the rules?

    Proper exit strategy? Stop losses? Risk control? Determine risk of trade? Bet sizing? My guess is that you have an idea about this but nothing concrete.

    Trading with your gut? Good luck

    Or are you just gambling for kicks?

    ReplyDelete
  3. There is only one rule james. DONT OVER LEVERAGE and u are gonna be just fine.

    Cheers Martin

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