dr.blix's 'trades of shame' journal

This is a discussion on dr.blix's 'trades of shame' journal within the Trading Journals forums, part of the Reception category; Originally Posted by dr.blix i have a E$ short on from 15031. seeing bearish RSI osc div on H1. stochastic ...

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Old Oct 26, 2009, 5:10pm   #29
 
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i have a E$ short on from 15031.

seeing bearish RSI osc div on H1. stochastic crossing over near overbought in a few different TFs.

what i keep doing is jumping in too early, my stop getting hit, then missing out on the main move.

for some bizarre reason i didn't even think of using orders SBing FX until very recently...i impulsively fire on a position almost as soon as IG's loaded up.

hardly surprising i fail constantly.
managed + 60 pips on this, trailed a stop to 15 pips behind....shame i didn't leave it open, but hey.

as of today i'm starting a 30 pip per day target.

i've tried this before (20 pts per day) on the FTSE, but just couldn't keep my discipline.

i'd hit my target (on a good day) and then carry on opening positions until i'd lost the days gains plus more...
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Old Oct 26, 2009, 5:10pm   #30
 
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dr.blix started this thread i've been calling a drop on the E$ for days.

it finally happens...i take 60 pips, right now that could have been 130...what a tit.
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Old Oct 26, 2009, 11:54pm   #31
 
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dr.blix started this thread lost 20 pips trying to catch the E$ falling knife.

made 25 pips with a long which i closed just before a 50% retracement @ 875 (plus it was a bearflag on a 10m TF).

i waited for the bearflag to play itself out, then went long again a 868 (not a very good entry), i'm going to leave it on overnight and see if E$ can make a 50% retrace of todays drop...this should take it to around 940...quite a tight stop of 15 pips.

i'll see where its at in the morning.
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Old Oct 27, 2009, 2:01am   #32
 
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Good lord man!
Why are you gambling like this?
Next time you get ready to make a trade with out thinking it through slap your self once hard in the face for me!
Fire a trade off as soon as you open the platform?
Did you really say that?
Slap yourself again just for that!
If you want so much to gamble go to a casino.
You need to really start treating your trading like a business.

You are a better trader than this!
I think you need to start sitting on your hands more.
You know this why am I having to tell you?
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Old Oct 27, 2009, 9:50am   #33
 
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Originally Posted by hwsteele View Post
Good lord man!
Why are you gambling like this?
Next time you get ready to make a trade with out thinking it through slap your self once hard in the face for me!
Fire a trade off as soon as you open the platform?
Did you really say that?
Slap yourself again just for that!
If you want so much to gamble go to a casino.
You need to really start treating your trading like a business.

You are a better trader than this!
I think you need to start sitting on your hands more.
You know this why am I having to tell you?
haha...oh the shame!

well this is why i started the journal HW...to shame myself into not opening ill thought out positions.

in my defence i don't treat equities in this way, as the position sizes on those are relatively substantial.

i tend to play around with FX because i'm only SBing small positions, which is where my cavalier attitude problem comes in.

but, you're right, essentially its gambling...a very bad habit...and although the positions are small, its the principle of gambling that's dangerous and counter-productive to the learning process (which is the only reason i started SBing, as a tool to learning TA).
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Old Oct 30, 2009, 6:58pm   #34
 
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dr.blix started this thread ok, made 3 E$ trades today.

first one went long @ 14738 on a channel floor with bullish RSI osc div. closed for + 37 pips.

opened another long but got stopped out ( i'd kept my stop tight at around 12 pips), this went on to go in my direction after it took out my stop. - 12 pips

took another long on the bullish osc div (on 10m and H1 TFs) and closed for + 12 pips.

probably should have moved the stop to BE on this one as i could see a potential 780 on the cards, but closed it once i'd got back the 12 pips i'd just given away.

good to end on an up anyway.

i'm going to set myself a new daily target of 30 pips, try and get some structure and discipline back into my trading.
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Old Oct 31, 2009, 6:51am   #35
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hi ciao, i was thinking of starting a thread in the 'UK shares' section to try and get some people together who are trading small caps.

i may just try to incorporate that in this thread...not sure. i will be posting charts here to show my rationale behind my trades.

feel free to post any too ciao (if they are smallcaps).
hello dr.blix.... sorry I haven't posted because I haven't traded any UK stocks (as I have said my main trading market it is USA) at the same time been busy with my olive groves (I am a small olive oil producer... the best oil )

I will post whenever I will trade some..

take care and make plenty £££$$$$
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