Forex blog
Trader Rich
Contact Me
My Forex Graphs
Forex Contests
Goal & Performance
Money Management
My Forex Books
My Forex Journal
My Trade History
Advertise Advertise
Login/Logout Login/Logout
Forex RSS Feeds
Forex Technical
Daily Pivot Points
Divergence Chart
Forex Charts & Images
Forex Videos
Metatrader Indicators
Forex Resources
Broker Research
Forex Beginner
Forex Calendar
Forex Cloud
Forex Links
Forex Polls
Forex Search
Forex Top Sites
FX Position Size Calc
FX Risk Calculator
Knowledge Base
MM Checklist
Ratings and Reviews
The List
250 Most Popular Posts
Old Stuff
H Trading System
FX Engines Results
FX Engines Trades
Lien Schlossberg
Rob Booker Posts
Forex Trading
Categories
Chart Formations
Forex Trading
Learn Forex
Psychology
Trading Systems
RSS Feed
feed image
feed image

 Subscribe in a reader

Business Blogs - BlogCatalog Blog Directory
Blog Search Engine
Forex Project
Forex Sitemap
 
Busy Trading Day
Thursday, December 28, 2006

I've been pretty busy trading over the last 24 hours.  Here's a quick log:

  1. Lost 90 pips yesterday morning on an H-system trade that was a couple of pips short of a 90 pip gain.  I was sleeping and couldn't move my stops to breakeven.  No excuses here... this is just the way it goes. 
  2. 27 pip gain yesterday morning on discretionary GBP/USD 1 lot trade.
  3. Lost 42 pips on a Lien/Schlossberg trade that was very long and drawn out.  The stop was almost hit several times and seemed perfectly placed but it was eventually taken out.
  4. 40 pip gain on a discretionary GBP/USD European session trade this morning.
  5. 42 pip gain on the first 2 lots an H-system trade.
  6. 23 pip gain on the final lot of the H-system trade.

The profit/loss from all of these trades equals zero!  All of these trades were necessary though, even if it seems like I have nothing to show for it.  It's also quite satisfying to come back from the 90 pip loss yesterday morning. 

There is still 1 big problem that plagues my trading.  I continually close out my positions before they reach their target.  Let me go through the 6 trades above to show what it could have been if I just followed my rules.

  1. No change.
  2. Closed early, missed 33 pips.
  3. No change.
  4. Closed early, missed 20 pips.
  5. Closed early, missed 18 pips.
  6. No change.
So due to FEAR, I missed 71 pips.  Why can't I just stop doing it? I have to make a conscious effort to do so.  There will be times when closing it early would have been better but for the most part, it usually is far better sticking to the target. 
Forex Tags
See All Tags
December 2006  Forex Trading  forex  forex blog 
There are no comments for this item.
Please keep your comments brief and on topic, and remember that this is not a discussion thread.
Name : Website :
Title :
Comment(s) :
Verify : How many letters are in the word FOREX ?
< Prev   Next >
Explore These Other Forex Related Posts
  1. Followed the Rules and Won
  2. Big H-system win today
  3. Mistake Costs Me
  4. Week 10 Forex Performance
  5. Third Time Not a Charm
Search Forex Project
Select Language
Blog Archives
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
November 2005
October 2005
 

©2005-2008 Forex Project Properties LLC.

Creative Commons License
This work is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License.