Hi all,
Just thought I'd share with you the perfect trade I made today. I am over the moon my "system" or "strategy" seems to work:clap: A little background first.
I've been attempting to trade for several years now, and I have the battle scars to prove it. In short I've got the T-shirt. Some of the mistakes I've made and trading methodologies I've used in the past are too embarrassing to mention. I ended up losing £20k. I gave up a couple of times and dabbled a couple of times. But I was thoroughly fed up and annoyed.
However recently, for some unknown reason I picked it up again and started reading some books, studying trading methologies and testing a few things.( yeah i know i should have done that at the start).Eventually something clicked and I caught on. I found a strategy that seemed to work according to my personality and time frame. I tested it and it looked good. Some losses but the stop loss would save me (one confession, I never used a stop loss when i started out
). Anyway, i plucked up some courage to put on a live trade today. I woke up checked the markets and saw a setup on the dax to go short around midday. The kids were off school and wanted to go to the park and MickyDs. I waited for my trigger but it was slow in coming , and with the kids now getting more impatient, i thought it best to put in an order, with a stop and take profit a certain number of points away. i.e plan your trade and trade your plan. It would be better I'd thought since I wouldn't be staring at the screen and no emotions would be involved.
I logged off and as we got ready to leave, I couldn't help but sneak a peak at bloomberg. As luck would have it , the market moved in my favour, yippy. We left. Around an hour later , as soon as I got in , i switched on and the dax was past my profit limit for the day. Double yippy. I logged on , and ...wait for it....easy now....
the account was SMALLER than when I had started out!! What the... I checked and double checked and checked some more. What had happened is that with all the commotion I had lost focus. Instead of specifying short i had entered long in error. I logged off so fast i didn't double check the trade. And my stop loss was hit.
Oh I'm sorry, the title should have been " The perfect trade gone wrong!!" so i wonder what lessons I have learned today...
I'm over the initial shock and dissapointment now. So i thought sharing this would be therapeutic. I have some comfort in the fact that my strategy is working. So friends wish me luck and pray I win more than I lose in future.
take care..TH
Just thought I'd share with you the perfect trade I made today. I am over the moon my "system" or "strategy" seems to work:clap: A little background first.
I've been attempting to trade for several years now, and I have the battle scars to prove it. In short I've got the T-shirt. Some of the mistakes I've made and trading methodologies I've used in the past are too embarrassing to mention. I ended up losing £20k. I gave up a couple of times and dabbled a couple of times. But I was thoroughly fed up and annoyed.
However recently, for some unknown reason I picked it up again and started reading some books, studying trading methologies and testing a few things.( yeah i know i should have done that at the start).Eventually something clicked and I caught on. I found a strategy that seemed to work according to my personality and time frame. I tested it and it looked good. Some losses but the stop loss would save me (one confession, I never used a stop loss when i started out
). Anyway, i plucked up some courage to put on a live trade today. I woke up checked the markets and saw a setup on the dax to go short around midday. The kids were off school and wanted to go to the park and MickyDs. I waited for my trigger but it was slow in coming , and with the kids now getting more impatient, i thought it best to put in an order, with a stop and take profit a certain number of points away. i.e plan your trade and trade your plan. It would be better I'd thought since I wouldn't be staring at the screen and no emotions would be involved.I logged off and as we got ready to leave, I couldn't help but sneak a peak at bloomberg. As luck would have it , the market moved in my favour, yippy. We left. Around an hour later , as soon as I got in , i switched on and the dax was past my profit limit for the day. Double yippy. I logged on , and ...wait for it....easy now....
the account was SMALLER than when I had started out!! What the... I checked and double checked and checked some more. What had happened is that with all the commotion I had lost focus. Instead of specifying short i had entered long in error. I logged off so fast i didn't double check the trade. And my stop loss was hit.
Oh I'm sorry, the title should have been " The perfect trade gone wrong!!" so i wonder what lessons I have learned today...
I'm over the initial shock and dissapointment now. So i thought sharing this would be therapeutic. I have some comfort in the fact that my strategy is working. So friends wish me luck and pray I win more than I lose in future.
take care..TH
