Did Anyone Else Feel Good About This Week?
by Trader Rich
This week was certainly not my most profitable week; I managed to grab 66 pips from the market but it was the way that it was done that makes me feel like I'm making some real progress. I can't fully explain what I mean because it is was just a feeling of:
- Confidence to enter a trade based on my trading rules
- Acceptance if I lost or if a particular trade didn't go my way
- Calmness which may or not be caused by my zombie-ish state
- Cognizance of the flow of the market
Turn this into an acronym, and I can say that I was feeling C.A.C.C.
I'm not close to being where I can confidently say, "I'm a trader" but I feel like I'm progressing. After all, it's taken a lot of work this month to be down 9 pips and $245.00.
Yes, it's taken a lot of work to lose 9 pips but I'm content with this. I still have another week and a half to try to get back in the black to make November the third consecutive winning month for me. This really isn't important to me though. I'll be willing to accept a losing month if was able to learn more or make more progress towards my goal.
I'll have another money management post out a little later today but I'm done trading for the week. I had a short H-system trade on the GBP/USD that sat dormant for about 6 hours without moving much so I closed it for a 2 pip loss. I closed it for 2 reasons:
- I had this delusion that I might be able to get my hands on a PS3 if I got to Target 1 hour before it opened this morning. No such luck. Since I was PS3 hunting this morning, I didn't have access to a computer and couldn't manage my positions.
- I usually get in and out of an H-system trade during the European session but this pair just wasn't moving this morning.
I've decided that each week I'll try to have a central theme like I had this week with money management. I'm not sure what next week's will be but if anyone has any requests, let me know. Take care. Enjoy the time off this weekend.