todays debacle
shorted ftse
1)08.34 7414.5 (MENTAL)stop 7421
added
2)08.36 7416 (MENTAL)stop 7421 (added chasing cos its gone 1.5 points against me!)
added again
3)08.37 7417.8 (MENTAL)stop 7421 (chasing it again cos its gone a few points against me!)
then unwilling to accept stop.should have got out for about -13
running it
and adding a fourth in blind rage!
4)09.15 7425.8 (and worse still,NO MENTAL STOP)not that id accept it any way))
now getting really fking annoyed,how many more fking times can it keep bouncing against me.....
and adding a fifth
5)10.00 7437.8
it then keeps bouncing up n fking down between -60 to -90 keeping me in a bind.now how i wished i could have cut it at around -25
then i check the calendar and see BoE at 12pm WTF! I was now in it for the long haul.
it ran to about -120
for once(in the past year!) whatever the news was,went my way and i find myself at -30,then -20,then -15,then -9,-4 and now i want to get out BE or even a win
-2.3 and i dont want to let it go now!
and moments later im back at -30!
fuming but still better than -120 and im consoling myself thinking i'll have to take the cut.
but a little luck comes my way and i manage to close out
12.06 7423.5 net -5.6
only to watch it fall another 100 points(5x20)
net -0.5 because i had scalped 5.1 only minutes before this whole episode started and that too on mobile and in bed!
shorted ftse
1)08.34 7414.5 (MENTAL)stop 7421
added
2)08.36 7416 (MENTAL)stop 7421 (added chasing cos its gone 1.5 points against me!)
added again
3)08.37 7417.8 (MENTAL)stop 7421 (chasing it again cos its gone a few points against me!)
then unwilling to accept stop.should have got out for about -13
running it
and adding a fourth in blind rage!
4)09.15 7425.8 (and worse still,NO MENTAL STOP)not that id accept it any way))
now getting really fking annoyed,how many more fking times can it keep bouncing against me.....
and adding a fifth
5)10.00 7437.8
it then keeps bouncing up n fking down between -60 to -90 keeping me in a bind.now how i wished i could have cut it at around -25
then i check the calendar and see BoE at 12pm WTF! I was now in it for the long haul.
it ran to about -120
for once(in the past year!) whatever the news was,went my way and i find myself at -30,then -20,then -15,then -9,-4 and now i want to get out BE or even a win
-2.3 and i dont want to let it go now!
and moments later im back at -30!
fuming but still better than -120 and im consoling myself thinking i'll have to take the cut.
but a little luck comes my way and i manage to close out
12.06 7423.5 net -5.6
only to watch it fall another 100 points(5x20)
net -0.5 because i had scalped 5.1 only minutes before this whole episode started and that too on mobile and in bed!
i can imagine how he feels,only hes feeling it a million times worse
https://www.forbes.com/sites/nathan...erything-on-a-stock-that-tanked/#474a738916fb
https://www.forbes.com/sites/nathan...erything-on-a-stock-that-tanked/#474a738916fb
todays rollercoaster rides
short ftse
1)11.07 7415
2)11.18 7418.8
3)11.32 7418.8
close all 12.02 7411.2 +19
ran that bugger up to about -20.its so quick to go against you and painfully slow to go your way, if its going to go that way at all.
And.........it was taken on mobile.i cant help pushing my luck.perhaps if i was sat down,more prepared and focused and with all my charts up,i might have paid some attention to the dax gap fill above....and yet again,i might have ignored it but i would have been better prepared.
and then minutes later i go and do it again and something far worse(i have just told someone i try to minimise my losses by not doubling down more than 3 positions yet here i commited 6)
why? because i wanted to beat the market by another £6 so i would have accumulated £100 in the last 2 weeks and withdraw it from my account as a fk u market and give myself some confidence and ego boost to say i can win
1)12.14 7407.5 close 14.14 7408.8 -1.3
2)12.16 7407.8 close 14.14 7408.8 -1
3)12.17 7410 close 14.14 7408.8 +1.2
4)12.56 7412.8 close 14.02 7412 +0.8
5)13.10 7420.8 close 13.51 7417.2 +3.6
6)13.25 7427.2 close 13.48 7418.2 +9
ran these buggers up to about -90 (giving back last 2 weeks of gains) but i held,mad but knowing(thinking) if i calmed down and adding at opportune times it would come back.
initial stop on first 3 was about 11 so i should have taken a loss of about -10 and walked away but i dug in like i always(yet) do.
i should then have got out for -4 but now wanting a win,i held.
i should than have got out for -20 but held
and then watched it keep going against me without it looking back.
i did manage to withdraw that £100 giving myself a confidence boost but fk,ive got to learn to take my stops!
my last post THERE MAY NOT BE A TRADE TO TAKE TODAY
ive taken 14 trades in3 hours!
short ftse
1)11.07 7415
2)11.18 7418.8
3)11.32 7418.8
close all 12.02 7411.2 +19
ran that bugger up to about -20.its so quick to go against you and painfully slow to go your way, if its going to go that way at all.
And.........it was taken on mobile.i cant help pushing my luck.perhaps if i was sat down,more prepared and focused and with all my charts up,i might have paid some attention to the dax gap fill above....and yet again,i might have ignored it but i would have been better prepared.
and then minutes later i go and do it again and something far worse(i have just told someone i try to minimise my losses by not doubling down more than 3 positions yet here i commited 6)
why? because i wanted to beat the market by another £6 so i would have accumulated £100 in the last 2 weeks and withdraw it from my account as a fk u market and give myself some confidence and ego boost to say i can win
1)12.14 7407.5 close 14.14 7408.8 -1.3
2)12.16 7407.8 close 14.14 7408.8 -1
3)12.17 7410 close 14.14 7408.8 +1.2
4)12.56 7412.8 close 14.02 7412 +0.8
5)13.10 7420.8 close 13.51 7417.2 +3.6
6)13.25 7427.2 close 13.48 7418.2 +9
ran these buggers up to about -90 (giving back last 2 weeks of gains) but i held,mad but knowing(thinking) if i calmed down and adding at opportune times it would come back.
initial stop on first 3 was about 11 so i should have taken a loss of about -10 and walked away but i dug in like i always(yet) do.
i should then have got out for -4 but now wanting a win,i held.
i should than have got out for -20 but held
and then watched it keep going against me without it looking back.
i did manage to withdraw that £100 giving myself a confidence boost but fk,ive got to learn to take my stops!
my last post THERE MAY NOT BE A TRADE TO TAKE TODAY
ive taken 14 trades in3 hours!
todays (what should have been) debacle
shorting ftse
1)14.34 7306.4 (MENTAL) stop 17ish.should not have been taken,risk more than 10 and other parameters not met!
yet i add
2)14.35 7313.1 same(MENTAL) stop! better risk,right????
should have walked away about -15 but i do like to dig in.
and added
3)15.00 7324.4 (no stop,so maybe should not have been taken)
3rd position gives me a few points and i have opportunity to close out with a smaller loss of about 5 points.but ofcourse not,i now want a win! and it soon reverses.i then should have got out for -30 but i wasnt going to give up 30 when i wasnt willing to give up 5!
and add again
4)15.19 7329.4 (once again no stop.or as i like to call it AS(S),apparent stop.
it then keeps going up against me and i run it to about -60.
i then have an opportunity to get out for about -40 but i wasnt going to let that go.i mean how many times would it fking keep bouncing up against me.nearly every position i took came into profit by a measly point or two and i didnt take it.if i had it would have kept going for me.maddening isnt it!
but i seem to be more calmer these days with a cooler head and thought if i kept my head i should get out of it with a smaller bearable loss if i just kept patient and held my nerve.
its also wednesday,ftse dividend day so i ring up broker.he tells me no divi today.but he didnt sound too clever and i wasnt sure he was sure (and fact i dont trust the mofos) so i thought i would close out before uk close.
and add a fifth(i was getting silly now but determined to play it out)
5)15.41 7320.4
and running the mofos upto -90
it had to eventually break!back down to -50.i dont want to let go and then back to -90 really annoying me but i hold on.
finally closing out 16.37 7320.4 +4.7 minus 5 roll so net -0.3 and luckily there wasnt a dividend.
i was told im riding my luck.perhaps.
but in the words of napoleon
give me a lucky general over a competent general anyday
shorting ftse
1)14.34 7306.4 (MENTAL) stop 17ish.should not have been taken,risk more than 10 and other parameters not met!
yet i add
2)14.35 7313.1 same(MENTAL) stop! better risk,right????
should have walked away about -15 but i do like to dig in.
and added
3)15.00 7324.4 (no stop,so maybe should not have been taken)
3rd position gives me a few points and i have opportunity to close out with a smaller loss of about 5 points.but ofcourse not,i now want a win! and it soon reverses.i then should have got out for -30 but i wasnt going to give up 30 when i wasnt willing to give up 5!
and add again
4)15.19 7329.4 (once again no stop.or as i like to call it AS(S),apparent stop.
it then keeps going up against me and i run it to about -60.
i then have an opportunity to get out for about -40 but i wasnt going to let that go.i mean how many times would it fking keep bouncing up against me.nearly every position i took came into profit by a measly point or two and i didnt take it.if i had it would have kept going for me.maddening isnt it!
but i seem to be more calmer these days with a cooler head and thought if i kept my head i should get out of it with a smaller bearable loss if i just kept patient and held my nerve.
its also wednesday,ftse dividend day so i ring up broker.he tells me no divi today.but he didnt sound too clever and i wasnt sure he was sure (and fact i dont trust the mofos) so i thought i would close out before uk close.
and add a fifth(i was getting silly now but determined to play it out)
5)15.41 7320.4
and running the mofos upto -90
it had to eventually break!back down to -50.i dont want to let go and then back to -90 really annoying me but i hold on.
finally closing out 16.37 7320.4 +4.7 minus 5 roll so net -0.3 and luckily there wasnt a dividend.
i was told im riding my luck.perhaps.
but in the words of napoleon
give me a lucky general over a competent general anyday
todays quick FIX
short ftse
1)10.52 7320.8 no AS (so should have been no trade)
2)10.55 7322.4 as above,yet i add
and add
3)11.06 7326.1 as above but i add anyway,how many times can it keep bouncing against me
and i add again
4)11.30 7325.4
and it keeps me in a bind squeezing my balls for a smaller loss but yet not giving me anything.i then should have got out for about -10 but ofcourse i dont want to accept that and it bounce around from -3 (wish id taken it) to -15 or so.
coming up to 12pm and im on mobile! unprepped,not knowing of any news events,thinking there might be one i was considering taking a hair cut as i was wanting to close and get a hair cut.it turned and i closed out 11.58 7322.8 for +3.5
need to ruminate more on my actions.
short ftse
1)10.52 7320.8 no AS (so should have been no trade)
2)10.55 7322.4 as above,yet i add
and add
3)11.06 7326.1 as above but i add anyway,how many times can it keep bouncing against me
and i add again
4)11.30 7325.4
and it keeps me in a bind squeezing my balls for a smaller loss but yet not giving me anything.i then should have got out for about -10 but ofcourse i dont want to accept that and it bounce around from -3 (wish id taken it) to -15 or so.
coming up to 12pm and im on mobile! unprepped,not knowing of any news events,thinking there might be one i was considering taking a hair cut as i was wanting to close and get a hair cut.it turned and i closed out 11.58 7322.8 for +3.5
need to ruminate more on my actions.
Dinos
Veteren member
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Hi there, my opinion for what its worth, I trade the 5 minute time frame only, any other t/f is of no interest to me, I've had a look at the entry points you highlighted, every one was against the 5 minute PA, the only one that was on the right side for a short was the 11:30, but even then you where far to early with your entry as there was not a signal to enter a short. Not sure what system you are using, but would seem you are attempting to guess tops and bottoms rather that wait for positions to establish a momentum before entering a trade, your appear to be fighting the move rather than seeing whats happening and jumping on board. Chart attached, of where your short entries where in an upward move. The ideal entry would have being a long at 10.35am. IMHO, you should not have being short until at least 12:10.
Regards
Attachments
You've taken the time to have a look at the entries which has made you think about what I did and what u would do.
And your right there was no short trade to take on your 5min and what's worse is there was no trade to take on my time frame either,2min.(no ASS) I did jump in early for lack of patience and discipline.
Really need to slow down and work on these aspects rather than try to scalp a quick point and that on mobile with no charts having to flip from one app to another but it helps hone my mind trying to visualise charts
another smaller disaster worth noting
shorting ftse(yesterday)
13.39 7496.8
13.41 7497.8
14.05 7505.4
closing today 12.33 7518.2
-54.6 on these 3 trades but ending about -35 net after numerous shi££y little scalps
held these overnight almost in despondency but with a strong desire to win it back.ran the buggers upto about -200 holding 6 positions at times.
sat watching it yesterday about half an hour in i was -16 and knew i was wrong and should be getting out but no big deal,whats -16.i'll give it a bit longer!
ebbed and flowed but always taking me further into the red.'should' have cut -16 then again at -25 or even -70 instead of holding overnight and checking on it every few mins unable to sleep.
then this morning im at about -70 again and hoping it would continue my way,only a few more points and id get out break even until that fu$%er carney spoke and im back to nearly -200!
but i held and luckily managed to escape for a smaller loss.
maybe the stress of holding and having to think will have done something positive in my brain synapses when i should never have taken those trades in the first place.but knowing thyself,i'll probably forget go and do it all again in a heartbeat.the mind is a fickle thing or is it just mine!
shorting ftse(yesterday)
13.39 7496.8
13.41 7497.8
14.05 7505.4
closing today 12.33 7518.2
-54.6 on these 3 trades but ending about -35 net after numerous shi££y little scalps
held these overnight almost in despondency but with a strong desire to win it back.ran the buggers upto about -200 holding 6 positions at times.
sat watching it yesterday about half an hour in i was -16 and knew i was wrong and should be getting out but no big deal,whats -16.i'll give it a bit longer!
ebbed and flowed but always taking me further into the red.'should' have cut -16 then again at -25 or even -70 instead of holding overnight and checking on it every few mins unable to sleep.
then this morning im at about -70 again and hoping it would continue my way,only a few more points and id get out break even until that fu$%er carney spoke and im back to nearly -200!
but i held and luckily managed to escape for a smaller loss.
maybe the stress of holding and having to think will have done something positive in my brain synapses when i should never have taken those trades in the first place.but knowing thyself,i'll probably forget go and do it all again in a heartbeat.the mind is a fickle thing or is it just mine!
indeed fickle it is.todays what should have been a disaster
trade(all shorts) 1)15.08 7448.6 closed 16.07 7456 -7.4
2)15.10 7448 16.07 7456 -8
3)15.13 7448.6 16.07 7456 -7.4
i should never have been in these trades.as they were taken on mobile! they momentarily gave me +5 but i was tired of taking the odd point,this time i wanted more.perhaps if id been sat at my desk i would have seen a better picture and might even have noticed an upward trend....then from +5,it turned and didnt want to look back.i then should have got out for about -15,but not me!
i went to sit down at my desk and begin the fight back,adding.........and running it up to -100
4)15.22 7454.6 closed 16.07 7456 -1.4
5)15.30 7459 16.03 7456 +3
6)15.30 7461.8 16.02 7455.8 +6
7)15.40 7465.6 16.02 7454.6 +11
eventually getting out -4.2 net as i saw support and thought fu£$ it,it will probably hold for me and the risk of holding was about 80 points,i didnt want to end up back at -100 also being wednesday theres usually a dividend which i didnt know of how much as i hadnt prepped properly and so was another reason i should not have been trading(if i stuck to rules!)
so just as i get out,almost as if the market knows,it drop a few more points!
but i was happy to have got out -4.2 instead of -100 odd.
now to play it over in my mind and ask why the F i did it again and maybe get some mental neurons firing and synapses connecting
trade(all shorts) 1)15.08 7448.6 closed 16.07 7456 -7.4
2)15.10 7448 16.07 7456 -8
3)15.13 7448.6 16.07 7456 -7.4
i should never have been in these trades.as they were taken on mobile! they momentarily gave me +5 but i was tired of taking the odd point,this time i wanted more.perhaps if id been sat at my desk i would have seen a better picture and might even have noticed an upward trend....then from +5,it turned and didnt want to look back.i then should have got out for about -15,but not me!
i went to sit down at my desk and begin the fight back,adding.........and running it up to -100
4)15.22 7454.6 closed 16.07 7456 -1.4
5)15.30 7459 16.03 7456 +3
6)15.30 7461.8 16.02 7455.8 +6
7)15.40 7465.6 16.02 7454.6 +11
eventually getting out -4.2 net as i saw support and thought fu£$ it,it will probably hold for me and the risk of holding was about 80 points,i didnt want to end up back at -100 also being wednesday theres usually a dividend which i didnt know of how much as i hadnt prepped properly and so was another reason i should not have been trading(if i stuck to rules!)
so just as i get out,almost as if the market knows,it drop a few more points!
but i was happy to have got out -4.2 instead of -100 odd.
now to play it over in my mind and ask why the F i did it again and maybe get some mental neurons firing and synapses connecting
todays trades of note
1)short ftse 13.48 7422
2) 13.51 7423.6
closing both an hour later 14.44 7423.6 net -1.6
it just fking kept me holding for ages.the best it was giving me was to allow me to get out for -0.4 and then for a split second,before i could react i had +0.4 which soon reversed.
and then i thought i was getting out for -0.4 but by the time the dust settled it was -1.6
and then i was left feeling like a complete beginner.the mofo dow dropped 30 points and the bas7ard ftse hardly moved.yet for every point the dow retraced the fking ftse also went up.
but -1.6,one of my best losses!
1)short ftse 13.48 7422
2) 13.51 7423.6
closing both an hour later 14.44 7423.6 net -1.6
it just fking kept me holding for ages.the best it was giving me was to allow me to get out for -0.4 and then for a split second,before i could react i had +0.4 which soon reversed.
and then i thought i was getting out for -0.4 but by the time the dust settled it was -1.6
and then i was left feeling like a complete beginner.the mofo dow dropped 30 points and the bas7ard ftse hardly moved.yet for every point the dow retraced the fking ftse also went up.
but -1.6,one of my best losses!
foroom lluzers
Veteren member
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was dis demo?
Today's trades should also be noted as the fickle mind did it again
All shorts(I may have read somewhere that losing retail traders are generally short!)
1)12.32 7411.6
2)12.36 7412.6
3)12.38 7413.8
These trades 'should' never have been taken as were against strategy but I thought things were looking overbought and overextended so like a cun£ took a punt and then added a fourth which was to strategy
4)12.49 7414
I 'should' then have got out about -12 but didnt,thinking a -12 with 4 positions wasn't bad and I should manage it and I'd only been in the trade 20mins.
And I kept adding now knowing I was going against strategy and also fighting the trend
5)12.56 7415.6
6)13.04 7418
7)13.15 7420.6
and finally 8)13.19 7423
running these mofos to -140.
It was showing me I was wrong at -100 but I wasn't going to take that either.
Eventually it finally decided that it was overextended and I managed to get out at 14.34 7415.6 for a small win.
Plan next week is once again to be more patient and disciplined and remind myself I have the whole week/month to find the right trades and not just jump in
All shorts(I may have read somewhere that losing retail traders are generally short!)
1)12.32 7411.6
2)12.36 7412.6
3)12.38 7413.8
These trades 'should' never have been taken as were against strategy but I thought things were looking overbought and overextended so like a cun£ took a punt and then added a fourth which was to strategy
4)12.49 7414
I 'should' then have got out about -12 but didnt,thinking a -12 with 4 positions wasn't bad and I should manage it and I'd only been in the trade 20mins.
And I kept adding now knowing I was going against strategy and also fighting the trend
5)12.56 7415.6
6)13.04 7418
7)13.15 7420.6
and finally 8)13.19 7423
running these mofos to -140.
It was showing me I was wrong at -100 but I wasn't going to take that either.
Eventually it finally decided that it was overextended and I managed to get out at 14.34 7415.6 for a small win.
Plan next week is once again to be more patient and disciplined and remind myself I have the whole week/month to find the right trades and not just jump in
foroom lluzers
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I offer multiple psychology counselling services for free .There is a great thread on patience and patience is profit , but do you understand the virtues of patience .
How do you define patience ?
itspossible
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foroom lluzers
Veteren member
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get real psychological understanding
Confidence is a precursor to discipline according to Dr Menaker
Confidence is a precursor to discipline according to Dr Menaker
D
Dowser
Have you got any professional qualifications relating to psychology or counselling?
