Tuesday, October 9, 2007

Bad Days Gone

It's not easy to document lossess. I gyess that's why i didn't record anything in the couple of days. But, here i am. I am going to make quite simple from now on. Instead of long stories, i'll just input my positions and the number of pips gained or lost.

Okay
On Thursday 04 October.

My first trades of the day was good.
Long on GBP/USD - +10pips
Long on GBP/USD - +14pips

then i started spoiling it:

Short on EUR/USD - -35pips (my worst loss so far). Guess i'll start hating this pair.
Another good buy

Long on GBP/USD - +24pips (TP was hit).

Would have been a good time to end the day, but i didn't

Long on EUR/USD again and lost 29pips. I guess i never learn.

Total Pips Profit - 50pips
Total Pips Lost - 64pips
Average - -14pips

then on Friday, 05 October, a major news day. I was set to reap all the pips but...

First trade
Short on GBP/USD - -23pips
During nes time

Short on USD/CAD - +16pips

After exiting, greed pushed me in again
Short on USD/CAD - -16pips

And for the much awaited US NFP release, when i was supposed to be in the mosque

Short GBP/USD - -25pips

Net : -48pips

I guess it dawned on me at this point that i was going to run my account out if i don't get disciplined and trade in control. Pledged to be more careful.

On Monday, 09 October, as usual on mondays, market was dull. Following my pledge not to over-trade anymore, i stayed out. But got +3pips from a Short on GBP/USD.

just into a position now, bought GBP/USD at a very low dip. Hope this will take care of some of the lossess recently.

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