Mistake after a mistake...
reasons: a lot, and mainly my own
Just want to write and share with everyone what I did and what happened to me...
First two months of this year were quiet good and made above 5.5% in Jan. The made more than 10% in February. In March stated the problems. In the begining of March we were well up in more than 5% profit on buying USDJPY and then followed sharp losses on EURJPY and USDCHF, which took me in loss, but still managed to take the March to slightly more than 1% of loss. April was a desaster with loss of 10%, follwed by another 2,88% loss last month...
Thats when the real misakes came into the picture. Once you start changing your and going for desparate mesures, thats when you are going inot deeper problems. I tried to sell GBPUSD last week on rate annoumcement and trade went sharply in my direction about 60 pips. It all happened so quickly, and reversed back to upside that I didnt put na stp loss, and as those who read a bit of my posts know how much am I against mental stops... thats the situation I went into and closed the trade with a loss of 170 pips... Decsion to go for 20 pips stop losses and trading fundamentals was a mistake and I should have sticked to my system without trying to trade fundamentals. Just had to take them into consideration and not trade them. Today was another fiasco. I tried to short Euro on CPI announcments when it jumped from 2060 to 2035 on the announcment. Same thing happened as with cable last week - it jumped sharply higher, I wanted to close for less stop loss, but its impossible... thats why I never traded announcements, but depsarate times made me do one mistake after another. I should have just taken a break after last week, but I didnt, because I wanted to recover some losses... always a mistake...
anyway, I will be away for the rest of the week, and will resume my trading and post as always here starting next week. Should have done it for this week, but....
when you have a system, you should stick to it. That was alwasy the rule. But once you have investors and you try to cut the losees, rcover and so on, you make mistakes. Nothing but the original system. If you know it works for a long period and you have losses for a month, 2 - it happens. There is no trading without losses... So.. to sum up... yes, fundamentals will be taken into consideration, but not to change the trading approach, but to avoid losses...
Till next week,
Rezo
