WadeGrimm
Member
Always the optimists: Sterling bulls buy ahead of the weekend
Hope for a breakthrough springs eternal Sterling has been a weekend trade for months because of the ever-present risks surrounding a Brexit deal. This weekend
You'd think that would make me feel better but for some reason it makes me nervous when I see a headline that backs up a trade of mine
WadeGrimm
Member
And of course - because the universe has a sense of humour - less than 30mins later there's a trade deal headline which briefly pushes the market past my +30pt target.
There's a lesson in the human factor there - "Can't be bothered to have this trade take up any more of my Friday night" is not one of the six reasons to exit a trade I listed at the start of this thread
There's a lesson in the human factor there - "Can't be bothered to have this trade take up any more of my Friday night" is not one of the six reasons to exit a trade I listed at the start of this thread
C
cantagril
Perhaps just rewording it to a rule: "Close out all trades at Friday London close" . That would allow you to feel better about it, being a product of thorough analysis over time and therefore a logical addition to your rules based systemAnd of course - because the universe has a sense of humour - less than 30mins later there's a trade deal headline which briefly pushes the market past my +30pt target.
There's a lesson in the human factor there - "Can't be bothered to have this trade take up any more of my Friday night" is not one of the six reasons to exit a trade I listed at the start of this thread
C
cantagril
I know it's bad form to answer one's own posts but I thought that a better context of the above idea might be of more use:Absolutely true...though I believe that if one retains an awareness (or even keep a record
"Il semble que la perfection soit atteinte non quand il n'y à plus rien à ajouter, mais quand il n'y a plus rien à retrancher." (Antoine de Saint-Exupéry, Terre des Hommes, 1939)
Which translates approximately to:
"It seems that perfection is achieved not when there is nothing more to add but rather when there is nothing left to remove."
...so in the end, you'd be left with nothing. Perfick!
WadeGrimm
Member
Perhaps just rewording it to a rule: "Close out all trades at Friday London close" . That would allow you to feel better about it, being a product of thorough analysis over time and therefore a logical addition to your rules based system
That's one idea certainly, but I do generally like to give trades time to work out later in the day, especially as things can sometimes pick up after a bit of a lull around the London close. It's not really much of a hardship keeping an eye on things up to 9pm on phone or tablet, I'd just had enough after what felt like a long week and beer o'clock was calling
Ultimately I went against my own system and paid for it, lesson learned I think. Things like this are part of the reason I started a journal, I keep all my trade details in a spreadsheet but seeing thoughts written out like this is a bit different.
WadeGrimm
Member
Almost 1.30pm so time for a break, still holding oil short with stop at b/e.
See potential entries long on FTSE if back above 6350 and short GBPJPY if back below 13875, but I'm happy to miss them if they happen during my break. It's an odd period of the day with various US markets opening at various times so I have a little less trust in signals that occur around these times.
See potential entries long on FTSE if back above 6350 and short GBPJPY if back below 13875, but I'm happy to miss them if they happen during my break. It's an odd period of the day with various US markets opening at various times so I have a little less trust in signals that occur around these times.
