pingvin123
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Thank man! Trading part time (while at the same time trying to do normal job) is hard. Especially if you work over time. Week 5 was a disaster for me. I was so tired I expected to have hallucinations at the end of the day. This happened to me a few times before. I was not suppose to trade and I made firm stand NOT to trade my usual GBP/JPY as it was on the important crossroad. I succeeded in this, but... I saw an interesting pin on NZD/USD on Sunday night, lol. What caught me in was this:
When I saw -250 M instead of -15 M I went nuts. It was a few seconds before the Sunday night opening and I decided to short it. I broke all the rules:
- I traded the pair I know nothing about
- I opened the trade on Sunday
- I accidentally opened double size of what I usually do and I didn't close it
- I traded pin in traffic (and I was just telling someone the other day how risky trading pins in traffic is; I just didn't realize then that I was doing this same thing here, I only realized that this is in traffic the next day when I was rested)
- Should I have turned on automatic system to put my trade to Break Even at 12 pips, this should have not been the loss.
- I was trying to catch the price, but fail do to psychology and extreme tiredness.
I lost all trades on week 5, lol. Pair moves very slow, I am not used to that, I like it more dynamic. Should I have waited a few hours more or 1-2 days more, all the trades would end up in BE or small profit. But my psychology failed completely.
Why did I trade when tired? I don't know, I guess I consider it a drill, to sharpen the perception when I am tired... I have no excuse for other mistakes I made, but as advfntrader put it, all those mistakes will stay in my memory.
I lost about 250 USD, that's about 16 % of the account. Two charts from that week, first one is Daily, marked is pin I traded, second one is 1H with all the trades.
Moving on :smart: Week 6, back to my usual pair GBP/JPY, no lost trades this week, still weak on psychology, exits to soon, not waited for the price to hit TP. But I got back all the money that I lost previous week + gained few more. Stats:
Capital: 1.547 USD
Capital increase from the start of the year: 155 %
Pip count neto this year: 813
Profit factor: 3,43
State of the mind: Green grass
First 3 trades; pair bounced from 153 EMA on Daily, made a new high, drooped and made a Daily Bearish pin on Monday. But the direction was clear, pair was going up, it crossed the Daily trendline and 153 EMA on Daily several times. The direction was clear. Pin had a smaller size compared to the previous day, it had a weak closure. However, some retrace would have been expected. So I was buying on fib retracement (see the chart), but psychology failed me and I closed to soon.
Next two trades I was dragging almost to what appeared to be upper trendline on Daily, but price eventually shoot higher. I started selling from the trendline, and then from the proximity of a major resistance. It worked out nicely, but again psychology fail me, I closed it at the Daily pivot point, although I knew that pair likes EMAs and would probably go for 53 on the 1H chart (orange line on the chart). It did and is since then caught between 20 and 53 EMA on 1H.
