State of My Trading

November 28, 2006 by Trader Rich 

I've been keeping busy and trading.  With 2 days left in November, I'm down 38 pips.  This really isn't that bad considering how disorganized my trading has been this month.  Specifically, I've been trying to discretionary trade for a couple of weeks and this has proven to be a work in progress.  For instance, yesterday I tried and tried to get short on the USD/JPY but after much work, I wound up down over 100 pips.  I was off from work yesterday and kept my eye on the USD/JPY chart most of the day and night.  Before going to bed, I put my orders in for any possible H-system trades that may occur during the European session.  A trade did trigger and I quickly profited 90 pips.  The physical and mental work that went into the failed USD/JPY trades was just so overwhelming compared to the semi-systematic H-system trading system.   

I'm learning that I'm terrible trend trader and my discretionary trading certainly needs work.  The longer I trade, the more I realize that there may be a limited number of systems or methods that fit me best.   I'll just have to continue the exploration to see all of my options or my limited options.

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