Just a Journal (win or lose)

Dinos

Veteren member
4,112 713
That will do for today:

Day 2
Trades 11
Won 7 (63%)
Lost 2 (18%)
Scratched 2
Pips Gained: 42
Pips Lost: 8
NET PIPS: 34

Totals

Days Recording: 2
Winning Days: 2
Trades 22
Trades Won 14 (63%)
Trades lost: 6
Trades scratched: 2
Pips gained: 94
Pips Lost: 28

NET PIPS: 66
 

Dinos

Veteren member
4,112 713
Losing trades are all part and parcel of a winning strategy, its impossible to win every trade, anybody who says they do are lying. I don't let the emotion of a losing trade get in my mind, I move onto the next trade. I'm not a glory hunter,looking to make hundreds of pips, each trade is ££'s, so I get in, grab a few pips and get out fairly quickly.

One thing stuck in my mind from many years ago, was a "story" by John Carter of CME, it goes something like this:

Imagine your a bird sat in a tree above a garden, surrounded by bushes, on the floor are the seeds you want to eat, but in the bushes are the cats wanting to eat you. Every now and again a window of opportunity appears for you to fly down, grab a few bits of seed before the cats know your there and safely return to your branch. The birds that get daring, stayed on the ground a bit longer, but never had the opportunity to return to the safety of the trees.

Using that analogy, I enter the market for a few scraps of points on a regular basis, in and out, take the pips, accept the losses, but never allow myself to stay in the markets long enough to lose out completely.

Have a nice night, until tomorrow, bye