my journal

This is a discussion on my journal within the Trading Journals forums, part of the Reception category; Originally Posted by travis I'm short even though one of the requirements wasn't met. Broke my rules. ECB press conferance ...

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Old Dec 3, 2009, 2:36pm   #1041
 
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Re: my journal

Quote:
Originally Posted by travis View Post
I'm short even though one of the requirements wasn't met. Broke my rules.
ECB press conferance with Trichet going on;
Causes volatility, especially as a Q&A session can bring up anything;

The press conference following the meeting of the Governing Council of the European Central Bank
on 3 December 2009 will take place in Frankfurt am Main at 2.30 p.m. C.E.T. and have the following format:

* an introductory statement by Jean-Claude Trichet, President of the ECB; and

* a question and answer session at which registered journalists will be able to pose questions to Jean-Claude Trichet, President of the ECB, and Lucas Papademos, Vice-President of the ECB.

http://www.thomson-webcast.net/de/di...3_stream_video
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Old Dec 3, 2009, 2:36pm   #1042
 
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Re: my journal

travis started this thread Thanks, again.

Made some more money by going long, and breaking my rules again.
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Old Dec 3, 2009, 2:42pm   #1043
 
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Re: my journal

travis started this thread now short
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Old Dec 3, 2009, 2:43pm   #1044
 
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Re: my journal

travis started this thread removed all stoplosses, full gambling mode
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Old Dec 3, 2009, 2:44pm   #1045
 
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Re: my journal

travis started this thread ok, made hundreds... that's good enough... now I won't trust my rules again, or hopefully it will just be a bad accident. turning it off for a few hours: enough of a heartache... finally I am back at 7k.
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Old Dec 3, 2009, 2:51pm   #1046
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Re: my journal

Quote:
Originally Posted by travis View Post
ok, made hundreds... that's good enough... now I won't trust my rules again, or hopefully it will just be a bad accident. turning it off for a few hours: enough of a heartache... finally I am back at 7k.
Some observations:
1.) There are no perfect rules.
2.) This implies that one set of rules which capture a statistical edge will nevertheless fail in some situations where another other rules (or a discretionary trade) will succeed.
3.) You cannot therefore distrust your rules just because you happened to manage to make money outside of them.

If I was you, I'd be thankful for making some money and immediately go back to following the rules as much as possible.

Just some thoughts.
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Old Dec 3, 2009, 6:56pm   #1047
 
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Re: my journal

travis started this thread Yes, that's good advice and reasonable remarks, as usual. Thanks. (#2. that's why I created 42 systems, each capturing a different edge).

I am still unstable from today's trading session. It wasn't good at all for me. I am still tense from that. I am referring to the 14.30 CET trades, wth that trichet news being released and so on. You're right, from now on I'll go back to my "usual rules" (that lasted me already 3 days). Much less stress.
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Old Dec 3, 2009, 9:24pm   #1048
Joined Jul 2009
Re: my journal

Dude! a few losses and you're breaking you're discretionary rules? Just stick with it!
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Old Dec 3, 2009, 9:41pm   #1049
 
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Re: my journal

travis started this thread Yes, you're right, but it wasn't because of any losses. It was because I was staring at prices too much. I got hypnotized.
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Old Dec 3, 2009, 9:48pm   #1050
Joined Jul 2009
Re: my journal

at least you made money . still you broke your rules , honestly dude, just set the stop and profit target, or if you want to protect profits then have a scale out plan, scaling out gives you piece of mind . scaling out half of position at halfway to profit target, other half placed at breakeven
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