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
 

Similar threads


AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock