Sometimes you just have to learn the hard way........

Well, it's been a sh1tty week. Big old drawdown, combination of volatility and just getting it wrong. 8 losers on the trot - my best yet. Finally the unemployment news just gave me a bit of a winding - that'll teach me for trying to trade the news (worked nicely on Monday). Think I might knock it on the head for this week and have a pint.

I've had a ****ty week too, not lost, but not won either. A lot of FX markets going sideways at the mo

I faded the news sell off on e-mini (couldn't resist it) so I'm going to the pub now having made about 12pts back but before this one, my position for this week was -24.25pts - ouch.

robster970 said:

Well, it's been a sh1tty week. Big old drawdown, combination of volatility and just getting it wrong. 8 losers on the trot - my best yet. Finally the unemployment news just gave me a bit of a winding - that'll teach me for trying to trade the news (worked nicely on Monday). Think I might knock it on the head for this week and have a pint.

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what have you learned the hard way...?

Black Swan said:

what have you learned the hard way...?

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Sorry. It is an ambiguous thread title. I have learnt that a good run for 10 weeks does not make me a trading god and that markets can be unforgiving as well as generous.

robster970 said:

Sorry. It is an ambiguous thread title. I have learnt that a good run for 10 weeks does not make me a trading god and that markets can be unforgiving as well as generous.

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twas ever thus my friend...Have you losses been on a couple of securities or 'spread' (scuse the pun) over a few? Obviously (not teaching gran to suck eggs here) if you've had 8 consecutive losers over 9 pairs that's nothing to worry about, annoying, it smarts but goes with territory...

However, if you've had them over a single indice and or cable then it may be something worth re-looking at. Anyhow enjoy your pint.

Black Swan said:

twas ever thus my friend...Have you losses been on a couple of securities or 'spread' (scuse the pun) over a few? Obviously (not teaching gran to suck eggs here) if you've had 8 consecutive losers over 9 pairs that's nothing to worry about, annoying, it smarts but goes with territory...

However, if you've had them over a single indice and or cable then it may be something worth re-looking at. Anyhow enjoy your pint.

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One for every loss, think of it as exorcising your demons :cheesy:

and think of all those on the opposite side of your trade getting some back

be charitable now and give a great big fluffy trading hug to your fellow man

Black Swan said:

twas ever thus my friend...Have you losses been on a couple of securities or 'spread' (scuse the pun) over a few? Obviously (not teaching gran to suck eggs here) if you've had 8 consecutive losers over 9 pairs that's nothing to worry about, annoying, it smarts but goes with territory...

However, if you've had them over a single indice and or cable then it may be something worth re-looking at. Anyhow enjoy your pint.

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All on E-mini. It's where I spend all my time. I came to the conclusion about March of this year that this was the place for me after trying UK stock CFD's, FTSE index and a bit of dabbling with Nikkei. I don't mind being a one trick pony and knowing one market well.

I kind of already know why some of the trades didn't work out. Nevertheless I will be disecting it all to death over the weekend as I usually do in my relentless pursuit of increasing my profitability. 3 of them were volatility on S/R lines not long after my limit orders were hit, 2 of them were impulse/revenge trades and the other 3 were just wrong direction. It's the revenge trades that bother me. I thought I'd nailed that some time ago. The explosive volatility is something I just have to live with.

I'll be 'hugging' those on the opposite side of my trades, next week as usual, by once again smiling at them as I take money from them. Anyway, couple of bevies now for me.

Good trading boys and have a splendid weekend.

Have been flat for whole week.I am looking for swings/longer term trades so it does take time for opportunity to develop.But anyway if it stinks than better be flat.That is also legitimate position IMHO.
And after having made nice amount of buck last week i was like..let"s not get greedy..
robster970,if you have followed your rules,who cares!You will be whole soon,that is trading.You know that i guess..
Cheers!

Yeah!

Its been the same for me, and the worst part is that i spent the whole week chaising a wonderful trend which took place these morning at the two pairs i trade, but...., well my internet conection got spoiled from 6 to 10:30 am, it was already gone when i could get in again...., these is bad.
Any way, my week was fair, if i could get those trends i would make a lot of bucks!.

ffsear said:

I've had a ****ty week too, not lost, but not won either. A lot of FX markets going sideways at the mo

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If you've had EIGHT losers in a row,.I would say, study why.
Look at all time frames, try and find the correlation, because there "will "be one!
Of course there are varying ratio's, for example, if we were to scalp with a four pip stop and our limit was at 16 pips, and our win to loose ratio was 3/1 ,.our losses would look, hmm,.part of the process of winning.... "perception is reality"