Day 49. +18.3. Three trades and a Small Milestone

That second trade may look a little strange. I was around 7 pips in profit and let it turn into a 14pip loser. However, it was planned out beforehand. When I put in that second pending order I felt confident that price was going down. When it broke I felt that price was screaming in my face, "We're going down!!!!! Then we're going to retrace, we may even retrace hard but I'm telling you Soma, WE'RE GOING DOWN EVEN FURTHER!!!. LOOK AT US MOVE. WE'RE GOING DOOOOWN!!!" hah. Based on how price was behaving I was totally convinced it was going down, would likely retrace, but then go down even further. I even told myself that I was so sure of it I would be willing to eat a large loss.

So price broke down, stalled then bounced back up. Higher, higher, and higher still. I had already planned to get out above a certain point and when price reached that point I exited with a 14pip loss. I didn't feel upset though or any despair whatsoever. It was more like gratitude to myself for grabbing my balls and going with my conviction. I felt that I would be right doing this much more often than I'd be wrong so it would all works itself out in the end. Anyway, wouldn't you know, as soon as I exited price turned. 'There it goes" I told myself and was going to get in after a break beneath the previous low. But then I though, "Wait a second. I know it's going lower. It's telling me it will. I know it's going to break past where I previously thought. Is there a better place to get in than the previous low?" And there was. So I put in the pending. It hit and exactly as I expected it broke down and I took a 30+ pip win.

Replaying this in my mind it's great that I made 18 pips today. But an even better play would have been just to exit when it stalled then get back in like a usually do. That would have given me around the same result except I wouldn't have a loss to overcome. And what if I happened to be wrong and price would have kept going up? Then I may not have been able to so easily make up the loss. So yeah, better to stick to what I normally do and continue working on holding when price screams at me.

Oh yeah, the milestone! Today, after over a year in Forex I am finally profitable!!! Fuck yeah. In 2010, for 9 months I steadily lost money jumping from method to method and always changing rules. It wasn't until I got serious and made this 60day challenge for myself in Jan 2011 that things finally started turning around. Since Jan I've slowly and consistently clawed my way back up, and now I can say I am out of the hole. I am officially profitable. haha. Yes! Gonna keep it up and keep moving forward.