Hi guys! Iām currently long for EURUSD @ 1.16895. Iām 10+ pips up at the moment and I just put my TP at 50 pips so that I could still grab some pips even if itās not a long-running trend.
For my USDJPY, Iām currently short @ 111.157. It seems like the marketās slowly changing its direction so I might manually close this before it goes red.
Sooooo many updates today guys. I hope Iām not annoying you all. But, I closed my GBPUSD long position with 20 pips profit. After this, I put in a short position @ 1.29147. Looking good so faaar.
Hi Ria, calm down, you need to control yourself. Generally the lows are twice or more than the highs. So if you control the highs the lows will also follow. If you leave your enthusiasm and āhappinessā to be unbridled your frustration and irritation will also be unbridled once you have a string of losses. In fact unbridled āhappinessā can lead to losses, you get used to feeling happy, your brain connects this to trading, so the better you āfeelā the more trades your brain wants to make, and before long you are buried in losses, and taking trades you donāt even know the reasons for taking.
Please read Dr Elders take on emotions it will help you. It is good to be Bubbly and Positive in life, but not in trading.
Iām suuuper happy to hear that @Falstaff! Haha. I was worried that Iām giving you guys too many notifications. Haha. But, thank you so much for that! And good luck on the things you ave to do today too.
And, definitely! Iāve been trying to integrate TradeViperās advice into my trading psychology and strategy. Thank you so much for the reminder!
So itās time to sleep for me! Haha. I didnāt want to wake up to a lost trade so I closed my GBPUSD position @ 1.28893 with 25 green pips. Today was a pretty good day for me. I hope it was awesome for you guys too!
Thank you so much for this @TradeViper. Iām trying to involve less emotions in my trades so I donāt feel as frustrated as I used to whenever I lose. Maybe itās also my trade sharing manner that makes that hard to believe. Haha. But, Iāll try harder and read Dr Pipslowās articles to help me.
Super thanks again The Ever Scowling and Serious about Trading Viper!
This is exactly what happened to me - exactly! I couldnāt believe that I could sit at a desk, trade and make money. Me and two other guys were in the market and would be emailing eachother back and forth all day as to the status of all the trades we had on - definitely overtrading - we discussed the losses but celebrated the all the wins! Doubled my account in 3 mos. and lost the majority of it in 4.
I did all the classics, revenge trading, double down on losers, letting red trades run to expiration - options - , no trade journal, not walking away after loss after loss to regroup, no capital preservation planā¦ it was ugly. A hard lesson to learn.
I kept the account open. Still have it. $10 balance.
@TradeViper is right. Emotions must be controlled, kept in check. This is crucial. Capital preservation is so key - well we all know the rest ā¦
Keep at Ria Rose! While I am a newcomer here it seems like a place that is steeped with great folks of top notch experience willing to help those who want to help themselves improve!
Deinitely! Iām really trying to be better at this! I try to focus on the system, rather than my emotions.
Welcome to this awesome place then! Haha. Youāre right. The people here are really nice and helpful! I wish you nothing but the best in your trading journey! You can do it!!!
the plan needs some more tweaks but to answer you here are my results from last week till now
usdcad +1
usdjpy -40
gbpusd breakeven
usdcad +27
eurjpy +89
eurusd +30
gbpusd +15
gbpusd -33
gbpusd -19
audusd -13
gbpusd and eurusd are my open trades
I closed my EURUSD position @ 1.16574 with +30 pips. As for my short on USDJPY, I closed my position with +36 pips. Iād like to end the month on a good note so these will be my last trades for the month.