Hi,
Phew…!!! What a day. To be honest, I am in the red today sheerly in terms of pips. 30 pips loss, and that too on a flat market, when I had around 20 to 30 pips easily in my pocket. I can’t believe I have been an ass today. The most dumbest thing I have ever tried was to get into the tug of war between bulls and bears. I know I am just a speck in the clouds and I should let the giants decide the trend for the day, instead, I tried to tag along, only to find that my tight stops gave me around 55 pips loss on FXCM and 20 pips loss on FXCB.
I also didn’t listen to my inner voice, which I knew to be right almost all the time. It was telling me not to trade for the rest of the weekend. Well, if I had listened to that… No point in pondering over the past!
But tell you what, I wasn’t really going to give in. That is not my style. Of course, I am impatient, hot headed, short tempered, emotional, and in your face, but I am certainly not a loser. I wanted to end the day in profit, at least in terms of account balance. And I did just that. Instead of the single micro lot that I trade on FXCM, i traded 3 micro lots, and settled for 20 pips profits. This limited my loss, and had break even day with $.40 in the green.
Similarly on FXCB, I traded 3 lots, and managed to rope in around 31 pips, and $.50 in the green. Cool! So, I would say that I am -30 pips for today, but what the hell, at least, I managed to keep my account from wiping out.
Here are the attachments. As I promised, I will post all my trading details here, immaterial of whether I gain or lose money. Losing is only a part of life, and as someone once said to me, ‘he who dares loss will succeed’.
And just for a heads up, I won’t be trading tomorrow, and for mostly the next week as well. For this week, I do have some work that I need to finish, and that will take time. I would rather not trade, than trade, lose, and be behind schedule on work.
For next week, I am taking part in a trading competition, FXDrive, being organized by FXCB. They are giving away respectable prize money, and just thought that I will try out my luck there… Maybe, I will post my weekly trading report for next week’s competition here.
Till then, have a great week.
Peace…
