so frustrated. despite saying I am trading both ways, but not at the same time, i go and end up with trades in the wrong way, and worse yet, my trades from the past month would now have been very successful. I am my worst enemy.
ive made $1 since yesterday. I think i need to start selling ice creams or something.
Thinking i will now always trade both ways at the same time
Bliehenry, ive been MIA for a bit mate,
Glad to see your still here and better yet your account going up $1 a day not down… Hehe
Cheers.
Yes. going steady. not great, but just steady
Balance now $1840
hows yours going?
Balance now $1910
slightly better than average returns for the past few days.
still being on the conservative side but its fine for now.
The only frustrations worth mentioning is that if you measured how much I could have made each day, well, then I measure up at maybe 10% or less of what I could do.
But ‘could do’ means i would know what was going to happen, and i dont, so i guess in that respect its all right.
Balance $2028
very slow progress.
Ive missed great opportunities and not done very well considering.
frustration!
anyway - making gradual progress forward - thinking how to tweak my approach
feeling positive though - and will try and make the rest of June and July very good months.
Balance $2073
still slow going.
but slow is OK - just taking longer to reach my first substantial goal.
Daily average seems to be less than $10 profit, and id be hoping for about $30
thats missed opportunities and taking profits early etc
I do seem to have one mental block. I always feel the $US/JPY rate should drop. for some reason I always am under the impression that US is about to get involved in Syria/Iraq/anywhere else or that the dollar for whatever reason shouldnt get stronger against the yen, but that thinking has stopped me making profits whenever the rate does rise.
I may yet be right - but im basing judgement on too short a time frame.
Im tending to be a scalper or at the least a day trader, but maybe my thinking the dollar rate should drop is more of a swing trade thinking.
Maybe a scalper always just needs to cater for anything happening anytime - absolutely irrespective of fundementals or technicals (within reason).
will ponder this
I wouldn’t complain at $10 a day on a balance of $2000. Thats a return of $50 a week which is 2.5% a week or 10% a month. Look at the fund managers our there who are looking after peoples money. If they made the equivalent of 120% a year then people would be flocking to them.
What I am trying to say is that 2.5% a week is a very high return. Even 2.5% a month is 30% a year which is a great return. Perhaps aiming for more on such a small balance is just being greedy and greed can turn into risking too much and then losing a lot (or all of it).
Keep risk to a minimum and make safe low risk trades and in a few years it will really add up.
yes - true words
Balance now 2143, so according my current trend it looks like a doubling in 5 months
at a rough estimate lets say that ends up being quadruple in a year.
If i can keep that going long term - 4 to 5 years should see nice returns.
although in the first 5 months I still made numerous errors, so if i can go forward without making these errors the figures would have been much more favourable.
I have tended to trade in such a way that i always had trades in progress. that is something i will change.
At stages having buy and sell trades in at the same time has been good, but i didnt do it that much. still thinking about that
balance 2233
Your stil going well. Nice work.
Thanks - feels very slow to me sometimes, but sure and steady is what you want.
balance 2245
was up to about 2260 and then some very bad moves.
back down to 2200
My own fault. loosing my focus, breaking all my own rules.
trying to make things happen faster. that will teach me.
I will probably add another 1500 to my account soon.
need to calm down, clear my soul and start afresh on Monday.
loosing is never nice and stresses me out evert time.
one of the reasons i lost is that i tried to make my stop losses pretty tight, which of course is stupid, but anyway - thats the reason.
ok - feeling much better.
back up to 2255
Balance 2325 and my first thousand up this year.
2385 - some gains today
2396 balance
The lower your risk - the more likelyhood of overall success
but the higher the risk the higher the impression of success due to instant gratification
Risk is directely correlated with the amount of money you will make. More risk more money etc.
ok completely screwed up trades the last day or two. aaargh.
Thanks for this information.
Ok - completely screwed it up.
fell victim to myself and did absolutely everything wrong which i knew i should not do.
lost 4 months
anyway - thats the cost of not following the rules
I am transferring a few thousand into the account and will now go forward again.
I am my worst enemy.
So now I will need to make rules to deal with myself as well as my trading.
The only mildly good thing is that this happened while i was at only a moderate balance.
Lost $845
Why
because I so firmly believed that the Us dollar would break through 101 to the yen and continue dropping, and what happened, in a very short time -it burst upward right to 103
The punishment for this is severe.
If I had followed my strategy i would have made a lot, but no - i went with my emotion
well - here we go again