my journal

[Yamato]

Losing 65.

 

[Yamato]

Losing 40.

 

[Yamato]

I am not praying only because my stoploss is in place. And I know that at worst I'll lose 250.

 

[Yamato]

Losing 30.

 

[Yamato]

Losing 90. I keep on writing it down to vent out my stress.

 

[Yamato]

Losing 130.

 

[Yamato]

Hey, if I'll lose, it only means my accuracy is not that good yet. After all, I've tried this rifle less than 10 times.

 

[Yamato]

Losing 90.

 

[Yamato]

Losing 50.

 

[Yamato]

Losing 40.

 

[Yamato]

Can you imagine a sniper hiding in the bush who starts yelling "damn!" each time he misses? That's what I seem to be doing. I am not being a good sniper. The sniper is first of all quiet. That's the first requirement for the sniper.

 

[Yamato]

Well, at this point, my trade practically failed because price going down met with an invisible wall. Whether it will go my way sooner or later, will be good for my balance, but I'll have to remember this one as a bad trade, no matter how it turns out.

What went wrong?
I think what went wrong is that all correlated markets (ES, CL, GBP) were heavily oversold, and I nonetheless made a short trade on the EUR. Will have to remember this, but I can't add a rule like this one, because otherwise... ok, I'll add it:

1) time is 15.00 to 20.00 CET
1) it's your first discretionary trade today (you can't trade discretionary outside this system)
2) your entry and your take profit are >=10 ticks away from any pivot lines
3) you've looked at "correlated" chart (both 1 month and 15 minutes): can't go long/short if most correlated markets are heavily overbough/oversold
4) the 225-period ma is in favor by > 10 ticks
5) the 15-period ma gets crossed by price (in favor) after being on the other side >= 4 minutes

 

[Yamato]

Making 30 dollars.

 

[Yamato]

Losing 50 dollars.

 

[Yamato]

Making 20.

 

[Yamato]

Now you see why I've said for many months that discretionary trading is not for me: I feel too much pressure. That's why I cannot do more than one trade per day. I've totally lost my self-control by the time my first trade is over. But I need to do this discretionary trading to help my systems, because I know that I can be overall profitable with it, even if by a small margin. Also, trading once a day in a controlled way will keep me from gambling when i am out of control. Because those are the times I lose thousands in one day.

 

[Yamato]

Making 60 dollars.

 

[Yamato]

Now making 10 dollars, but a big fall seems to be approaching on "correlated".

 

[Yamato]

Making 110.

 

[Yamato]

The disproportion between the GBP fall and the EUR fall (which was smaller) is paying off as I expected and hoped. Now the EUR is hitting new lows whereas the GBP isn't. Everything looks perfect and my position is profitable, but one will never know what will happen next for sure. So I am just sitting and actually I'll look away for 10 minutes, because the heart is having hard time standing this pressure.

That's why automated trading is so superior, but the problem is that my automated trading has a pretty big drawdown, at least compared to my small capital.