Tuesday, May 3, 2011

Day 39. + 10.3. Small losses means big wins

So today I kept the losses small. Had two of them and think they were both around 2.5 pips. So much easier this way. This is the second time I've had to remind myself of this recently. I mean to make it the last.

Anyway, first trade was a bounce rather than a breakout again. Seems that I'm getting more comfortable with those trades. Nice. Second trade small loss. Third trade I made a slight booboo. It was a winner for around 3pips but I felt I could hold longer. I was wrong this time and ended up taking a loss. I should have exited before it became a loser. I've been working on balancing the fine gentlemen act of holding longer but giving it room to move. I feel I'm getting better at it, as can be seen by the bigger wins I've been having recently, but I'm still trying to reconcile the optimum point in my mind. Getting there though. Either way, I still kept the loss small so that's good.

4th trade was also a bounce. 5th and 6th trades were standard continuations. And I'm done with a nice day.

Oh yeah, based on the recommendations of the peeps at BMT I watched the documentary Inside Job over the weekend. Really eye opening but also pretty depressing. Damn.

Double oh yeah, I started meditating again. I used to do it every day but fell out of it. Getting back into it. Feels great. Alright, I'm ouuuuuta heeeere.

No comments: