Mr Cat learns to trade

EUR/GBP 5 S 0.80521 stop 0.80600 .4 risk

Position 1.6risk paper profit 0 (woops immediate spike against)

Went for the break and it imediately retracted. $1.20 a point.

This deal is at a tipping point it more agressive on risk than i would like, and really only has say 3.5 in it.


+15, -7, -2, -2

NB laost post last deal closed at +13
 
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Need to work on record keeping stats.

Also saw artile to read on "grounded research" - system where research results are used very quickly to produce new adjustments to current methods, or experiments to test the contact boundary.
 
EUR/GBP 5 S 0.80260 0.80536 -24.34

Ouch. 2.4% as i had miscalculated risk. Picked the exact bottom of the market.
 
This is yje problem with setting longer stops. They cost you more when they lose. Going in tight now.
 
Im doing a rolling buy sell thing now. If qa full candle above certain indicaters buy if the next candle is green, sell vica versa. Contract size is decided byrthe number of candles in the right direction.

ie 1 red = 2 sell, 2 green = 2 buy. NB whole candle must be above the indicator

i wont record each deal untill the end
 
Im doing a rolling buy sell thing now. If qa full candle above certain indicaters buy if the next candle is green, sell vica versa. Contract size is decided byrthe number of candles in the right direction.

ie 1 red = 2 sell, 2 green = 2 buy. NB whole candle must be above the indicator

i wont record each deal untill the end

Loss on series -6

Edit -24, -5

R=Trading stop at 3% loss
 
EUR/AUD 1 S 1.74920 Stop .75300 Risk .38 testing the waters

stop taken .3 loss
 
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closed for night.... big loss. margin called.

Can see how you fall into these account busting traps.

Oh well start again tommorrow. with 1000.

There is no way out of a losing deal other than closing it. Doubling down just doesn't work. The market can roll you before you know it.

Its why im paper trading.

Im glad im posting this .... it adds a sting.

Cheers

NKAY One failure - start again with 1000, and a bit more knowledge.

The emoptional lesson is about getting to a point where you will not give up onthe deal
 
I am so pissed by my failure at this point.

Urtterly annoyed at myself because it puts me back from really getting into this with real money.

Arrg. I must analyse what went wrong. Firsrt thing i know is I was pushing to make a 50 and ended up blowing the account. Thats the problem - i wont keep to my oen rules.

Also I got frustrated with the market going against me over a few days. Even now im looking at the charts for a big win. This is it - when you lose big you are in a very irrational place. Easy to lose everything.

The temptation was to hide the loss from this journal. If i did that I would not learn from it.

The whole organism/environment system is floored if this is the result.
 
I think part of the problem is I am not a grinder by temprament. I think i will play the same pattern with 5% risk 1000->1100, and get really selective.

I was getting bored with the grind. Need to find a pattern that suits my temprament. Gives me success that I can lock away and start again with.
 
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