My primary cpu wireless is acting up. I'm not sure what the issue is. It works at home, but not wireless.
Right now I am running my two secondarys, it is going ok, but I am missing my point and figure charts.
Another issue is I have my screenshot software on their.
Mon(sun) 1 trade, 1% up. can't recall.
Tue(mon) 1 trade 2% up. +19, +4(breakeven)
I got class tomorrow, so I am going to work on my assignment, thus not focus on trading right now. I will try to catch the NY open for a spot trade.
Monday, September 22, 2008
Sunday, September 21, 2008
Here's a trade sheet that I am looking to do something similar with.
Focus for this coming week.
1. The spot trade
2. Locking in the 15pip profit, letting the rest run.
3. Break and retest entries.
4. Double bottom entries for scalps.
5. Demo
6. Working on developing a tradesheet
Friday, September 19, 2008
The worst trade in 3weeks
I was late in a trade, that I was leveraged too much I was up 38pips(note I did not lock my 15pips in as I have all week, because I was late I should have locked in 8pips at the least then moved the rest to break even.
I was running only 1 monitor, so thought I had the 1min on cause I was flipping but actually had the 1hr on. The trade turned from a winnner to a loser in a few minutes and I was looking at the wrong chart. omg. lame.
ended up doubling down and lost more.
at this point I am only up 1% for the week. Really lame lost 7% or so on that trade. REALLY LAME.
Went from 8%up for the week to 1%.
Lessons from that trade
1. late entry, chased price
2. over leveraged
3. wrong charts- cpu not set up right
4. didn't scale- with price chasing i needed to scalp at 5pips then let the rest break even. it moved 38pips in my favor and i didn't even lock 1 cent in. 38pips would have been another 3% to my account. A total of 11% for the week, part time. What an idiot.
5. didn't have break in locked in with so many pips in profit.
6. doubled down without having a strategic place to do it without a final exit plan.
I have been really good about not chasing price for several weeks. I have made sure every trade was quantified. Till this lame duck. I was over leveraged, I have been pretty good about that as well counting pips not profit. Today I did it backwards and wanted the money not the pips. whamo. bad move. I need to focus on quality trades with setups, exit strategies and the pips. My monitors were not set up, my charts were not set up correctly, I cannot trade half cocked. Didn't scale. wtf, I have been so good with this, again part of this was greed, I was watching the dolllars go up not the pips and upcoming resistance. Scale. Break even. I didn't lock break even in since I was so many pips ahead, I though the trade would keep going and then when it went negative on my entry instead of exitting I kept saying to myself it was going to turn around any second. Finally doubled down, without understanding the entire trade already.
All in all i was the biggest idiot around. Left holding the bag with my teeth kicked in.
Lesson be a professional not some amateur douche holding the bag.
I need to recommit 100%
This week I am going to make sure I am around for every 'spot trade' at that special time.
This will mean I will not react to price. I will put in the research and if I have not put in the work will not pull the trigger. I need t0 recommit every day and each time I turn the computer on I will reread a set of rules before I trade. I am going to get a 3x5 card and tape it to my keyboard to read and reread through out the day. Part of the problem this week that I believe led me to this bad trade was I had to buy snag it, delaying my posts in this visual journal that focused on posting solid trades, that concentrated on good entries, and making pips. I also noted my spreadsheet timetable combo for my monetary goals which I was on track for this week. This bad combination led me to this chasing price cause I wanted money, not locking in profits as I said I would do once I was in profit cause of greed, then being an idiot when I didn't exit on breakeven or close and lastly being a bigger idiot by doubling down. This is truely the worst trade I have taken in a long time. what a loser.
This coming week I will keep the same size since I made the idiot mistake instead of aising it as I had scheduled. If I lose 5% anytime this week I will ratchet down to 1/3. If I trade succesfully this coming week by executing solid trades, post my trades, journalize my trades, then I will consider increasing my size the following week. trades
I will focus on quality trades with setups, exit strategies and pips. Profit is a by product. Pips are what counts. Money is all relative. I am a professional I will trade as a machine.
I was running only 1 monitor, so thought I had the 1min on cause I was flipping but actually had the 1hr on. The trade turned from a winnner to a loser in a few minutes and I was looking at the wrong chart. omg. lame.
ended up doubling down and lost more.
at this point I am only up 1% for the week. Really lame lost 7% or so on that trade. REALLY LAME.
Went from 8%up for the week to 1%.
Lessons from that trade
1. late entry, chased price
2. over leveraged
3. wrong charts- cpu not set up right
4. didn't scale- with price chasing i needed to scalp at 5pips then let the rest break even. it moved 38pips in my favor and i didn't even lock 1 cent in. 38pips would have been another 3% to my account. A total of 11% for the week, part time. What an idiot.
5. didn't have break in locked in with so many pips in profit.
6. doubled down without having a strategic place to do it without a final exit plan.
I have been really good about not chasing price for several weeks. I have made sure every trade was quantified. Till this lame duck. I was over leveraged, I have been pretty good about that as well counting pips not profit. Today I did it backwards and wanted the money not the pips. whamo. bad move. I need to focus on quality trades with setups, exit strategies and the pips. My monitors were not set up, my charts were not set up correctly, I cannot trade half cocked. Didn't scale. wtf, I have been so good with this, again part of this was greed, I was watching the dolllars go up not the pips and upcoming resistance. Scale. Break even. I didn't lock break even in since I was so many pips ahead, I though the trade would keep going and then when it went negative on my entry instead of exitting I kept saying to myself it was going to turn around any second. Finally doubled down, without understanding the entire trade already.
All in all i was the biggest idiot around. Left holding the bag with my teeth kicked in.
Lesson be a professional not some amateur douche holding the bag.
I need to recommit 100%
This week I am going to make sure I am around for every 'spot trade' at that special time.
This will mean I will not react to price. I will put in the research and if I have not put in the work will not pull the trigger. I need t0 recommit every day and each time I turn the computer on I will reread a set of rules before I trade. I am going to get a 3x5 card and tape it to my keyboard to read and reread through out the day. Part of the problem this week that I believe led me to this bad trade was I had to buy snag it, delaying my posts in this visual journal that focused on posting solid trades, that concentrated on good entries, and making pips. I also noted my spreadsheet timetable combo for my monetary goals which I was on track for this week. This bad combination led me to this chasing price cause I wanted money, not locking in profits as I said I would do once I was in profit cause of greed, then being an idiot when I didn't exit on breakeven or close and lastly being a bigger idiot by doubling down. This is truely the worst trade I have taken in a long time. what a loser.
This coming week I will keep the same size since I made the idiot mistake instead of aising it as I had scheduled. If I lose 5% anytime this week I will ratchet down to 1/3. If I trade succesfully this coming week by executing solid trades, post my trades, journalize my trades, then I will consider increasing my size the following week. trades
I will focus on quality trades with setups, exit strategies and pips. Profit is a by product. Pips are what counts. Money is all relative. I am a professional I will trade as a machine.
Wednesday, September 17, 2008
Took a trade monday,
+15 with 2/3
+70 with 1/3
Took a trade last night, it was decent, wasn't working out so I was moving my sell limit to get out. For some weird reason my bid and ask were 3-8pips difference, with the bid being higher. When I finally took a market order to exit it filled me at the bottom of that swing.
-13
+15 with 2/3
+70 with 1/3
Took a trade last night, it was decent, wasn't working out so I was moving my sell limit to get out. For some weird reason my bid and ask were 3-8pips difference, with the bid being higher. When I finally took a market order to exit it filled me at the bottom of that swing.
-13
Sunday, September 14, 2008
Weekly Questions
1. What will I improve on this week?
This week my goal is to increase my lot size and to continue have a quota of 15pips a day. The scale is to cover 2/3 at 15pips and to let the last 1/3 run or be.
I will also accurately measure and post my daily % profit and loss in my blog.
2. What was I most proud of this week?
Consistant wins, while minimizng loses.
3. What was my biggest accomplishment this week?
Stuck to my plan, made a few pips, and scaled at 15pips.
4. What have I done to get closer to my life goal this week?
Put in my work for trading, and made a few pips.
5. What was hard for me this week and why?
Been a little busy, even though I was off.
I also had a few times I had difficulty pulling the trigger, to get over this I will insure I do more demo trading in especially in those instances of uncertainty.
6. What was my biggest waste of time this week?
Friday, I missed.
7.What did I do this week that made me ashamed?
I slept in a few times even thugh I knew the NY session offered some great oppurtunitites.
This week my goal is to increase my lot size and to continue have a quota of 15pips a day. The scale is to cover 2/3 at 15pips and to let the last 1/3 run or be.
I will also accurately measure and post my daily % profit and loss in my blog.
2. What was I most proud of this week?
Consistant wins, while minimizng loses.
3. What was my biggest accomplishment this week?
Stuck to my plan, made a few pips, and scaled at 15pips.
4. What have I done to get closer to my life goal this week?
Put in my work for trading, and made a few pips.
5. What was hard for me this week and why?
Been a little busy, even though I was off.
I also had a few times I had difficulty pulling the trigger, to get over this I will insure I do more demo trading in especially in those instances of uncertainty.
6. What was my biggest waste of time this week?
Friday, I missed.
7.What did I do this week that made me ashamed?
I slept in a few times even thugh I knew the NY session offered some great oppurtunitites.
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