Trading journal of a discretionary newbie trader

closed at 97.65

lost 35 pips

Total: +112 pips

Open 2 quick trades and lost 3 pips in total.

Total: +109 pips

I guess I am on tilt! Pffffff…

Trying to catch a falling knife!

Long at 97.38

SL 97.23

Close at break even.

Short 97.40

Sl 97.50

Tras, was thinking what to post on the positive note, opened my fav news site - the very first sentence, right at the top of the page, I’ve copy and pasted it:

“Believe in yourself, confidence is the most powerful trading tool”

Don’t let the urge to be on a trade just because you see the train is moving forward or reversed. If you are not clear where this trend will go, just sit on the sideline and let it played out. Get in when you have a clear signal… IMO.

Thanks! :slight_smile:

I read it too!

Yeah sure you are right! Thanks!

However it is not always easy to wait on the sideline for a great price. Not for me at least. Not yet. But I will learn!

I understand… If you are doing this quite a lot, you will… Calling your trades like this in forum takes a lot of gut. I won’t be a able to do it. It added more pressure to me posting it than the actual trade so hats off to you…

Good-luck!

The first few times it was. Mainly after losing trades or after calling stupid trades. But it is also helping a lot to write down my thoughts and my feelings as I go.

Ok right now I just lost 20 pips because I didn’t set a TP around 97.05. I wasn’t following so I didn’t even have the time to react. Clearly lot of people set TP or long trades order at that level and the market react to it and flew very fast back to 97.25

In the first place I also had set an order around that level but I deleted it telling myself that anyway I am here following.

Well double mistake and 40 pips lost more or less. Hope I will think about it the next time.

Btw, congratulation with your thread, very nice!

That is why journaling your trades is a great way to start with. When you record them and you review it weekly, you will know what your pattern is of having the same mistakes because you have done it before. Self evaluation is a key and your journal will help…It is not always perfect but more than likely you will do the same mistakes again or a new one… So good for you…

Lol… I am just bored so I created that thread. It will keep me busy…Thank You!

clam down tras.

Closed at 97.30

+10 pips (I should have reversed it earlier. I should reverse trades more often)

Total: +119

Thanks! Now I will sleep, but with an eye open! :slight_smile:

Yeah, for myself I found that being particular about setting a tp has helped me.

I think that sub-consciously I was not setting a tp hoping to catch the big fish (ah… 2 of the 3 enemies, hope and greed) - many, many trades have gone to loss all because of this - now I set a tp without fail - if I’m at the screen and it’s green I will often shift it to satisfy my greed, otherwise I just let it happen.

Short position activated at 97.70

SL 97.70 (moved already at break even)

I wasn’t following and the market just come back killed my position for just 1 pipette and now it is going in my direction.

Great! Typical! :slight_smile:

Omg, how annoying is this?!?!?!?!

[QUOTE=Trasimaco; 519571] I wasn’t following and the market just come back killed my position for just 1 pipette and now it is going in my direction.

Great! Typical! :slight_smile:

Omg, how annoying is this?!?!?!?! [/QUOTE]

I don’t think I should trade anymore for today and for the week. This thing made me really upset.

I was unlucky but it was also my fault to move the stop to break even too early. I do it often to reduce to the minimum the losses but sometimes I lose nice opportunities because of it. In this case with the pair in bear mode maybe I should have risked and keep 20-30 pips stop loss.

Well, what to say, what is done is done, breath and carry on. Hopefully I will learn the lesson for the next time.

Take a break . You don’t need to trade every day