AAARRRGGGG!!!
What a WEEK! OH, what a week! You know that when I was demo trading I used to tell my wife: "The cool thing about this business is that you can make money anywhere, so while we're on vacation I can still be making money, just bring my laptop and trade in the hotel or on the beach" EF THAT! When I go on vacation I'm going to relax!
Anyways for those that don’t know this is was my first week trading live. And the story goes…So sunday night comes and I am EXITED! Finally after all the long months of learning and trading fake money the time had arrived. Computer, check, account funded, check, exited, OH YEAH, check. Systems a go. I set my trades, yippy time to become a gazillionaire! My first trade was placed and boy was it a great one, not . I set up the rest of my trades and monitored them every few hours through the night. My first trade decided to take a dive early on down to -5%. I immediately grabbed my book “trading in the zone” for moral support and stuck it out.And it reversed to a measely 1% profit. After all how the hell am I gonna become a gazzillionaire with only 1% profit! Later I realized that I’d entered short at the bottom of the wave. It hit HBOP and swung between there and S1 the whole week. So I kept it all week each time thinking as it got to zero that it would go on to big fat profits. Stupid me I had a few times that I could have closed out at 1% profit on it but I held on for more(greed).
Monday I was introduced to my other b*tch of a position, damn thing would go into huge negative then to zero, I held this one too throughout the week. Most of my positions were in the red about -7% total. Tuesday, about damn time I see some nice green, closed out 2%. Wednesday, I close out 4%,(still have those two loosing trades , man I wish I’d taken the1% on each). Thursday (midday) I was up 5%. Duh duh dah(erie music in background), here is where things started to go down hill and in nerd dialect I get wtfpwned!
I looked at each trade and said to myself heck if I just add a few more positions and each one goes to XX level I’d make another 15%(greed), pretty smart idea right, WRONG! Half of those positions were USD/XXX or XXX/USD, and for those of you that weren’t trading thurs-fri the USD had a HUGE rally, well huge cause I had doubled a few of my USD positions. EUR/USD sunk like a rock and as it did my heart started beating harder, the palms of my hands started to sweat, my face got red, AND I PANICKED(FEAR)! I was tripled up on EUR/USD boy did that hurt! So 5 minutes later and MINUS 10% realized loss, mostly EUR/USD, PLUS -8% unrealized loss, I was broken, bah, it wasn’t that bad, I’m just exagerating, kinda. Oh, and by the way my two pet money sucking trades in NZD from monday and tuesday decided to flare up as the USD soared to new gut wrenching heights and go from -2% to -6%.
So I got up, walked away in disgust, and layed in bed for awhile staring at the ceiling thinking about what I’d done wrong, by this time I think it was around 4 am. I started going over the week and what had worked and what had not. During the week I’ve not had a single trade no matter how bad that didn’t eventually come back for a 1% or more profit. I’d had some nice rational trades triggered during the rally that I’d closed in panic, EUR/USD was now at a very very low support level, and I needed to do damage control, not revenge. So I got up went back to the computer and re-setup my trades(all within MM rules and according to my system). All with reasonable targets. I then closed out my deltastock platform and went to sleep for 4 hours. I didn’t sleep much this week. I got up this morning and 80% of my trade targets had been hit I made my money back minus my gains for the week and my NZD trades were back to there regular -2% and I closed them out.
After all was said and done I ended up with a 2 % gain for the week. I made alot of mistakes but they could have been much much worse if I’d let them get to that point. I LOVE the RT system. It’s so reliable. Out of my 20 someodd trades, every single RTS trade showed profit of 1%+ at one point or another. As I was lying there thinking after all the mess. I thought to myself how different the week would have ended if I’d not bent MM rules thurs-fri and set my profit target at 1% if my S1/B1 were not hit during the night, or at break even if the trade went against me, shoot, even those trades that went against me, only 2, both showed 1% gains at times. I feel like I had a great week. I learned a ton and I’m sure its only gonna get better. I know there will be times when the SHTF but it’s how you handle it that matters and sticking to your trading plan.
P.S. Dale, I got the new indicators. Thanks!
