Traders Confessional

Crap Buddist

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Forgive me father, for I have been a ****.

I shorted Cable early Am 1.9863 according to my method and setup. I sat patiently for 6 hours watching noting it was still short, so nothing to do but sit.

After 6 hours odd, I took my chart and adjusted a parameter, what known as tweaking something whilst being bored ****less. Anyway, I adjusted from 20 to 18 this parameter and thought nothing of it.

I sat for another 2 hours watching, noting how the market was rejecting higher prices ,just based on the price.

Then I got a signal to go long, first of the day, 9 hours after patiently holding short.

The pullback was swift, it looked odd, but the instinct in me ,and seeing the green for go signal on my setup , didnt make me hesitate, nor should it.

But upon getting my deal ticket back, some seconds (1 or 2 ) and tidying that up, the position was already 10 against.

**** i thought, that shouldnt happen, it rarely does. I noted on my chart it was breaking down, odd I thought.

Anway my green go signal turned red, market sell, some 3 minutes later, the price then was 20/30 odd against.

I didnt panic, but was ****ed off, this doesnt usually happen, not on this setup.

I thought for a moment, back to my tweaking the parameter earlier, from 20 to 18.
I adjusted it back to its original construct of 20.Upon doing which and looking at the output it was still blood red, from early Am hold short.

What a **** . Now im holding long which is , as I write 30 against. Wiping out over 50% of prior gains which would of doubled had I not ****ed about.


Ive put a hard stop in now some 15 points below current price. Limiting my loss to -48 should it be hit. But my setup still says hold short, what a ****.

What a ****.

Thanks for listening

Crap Buddist.

Additional comments.

STOP HIT.

what a ****.
 
Nice confession. I hope it results in better trading and discipline. Now, don't do it again you idiot! ;)
 
I'll make my confession later on (after the pub) if you dont mind.

I absolve you though. :cheesy:

j
 
It's easy to make such mistakes. I've done the same with an indicator, and recently i was wondering why i hadn't had a signal in my multiple chart desktop. I then realised i had been looking at the wrong chart/tab for the last 5 minutes, and missed a good signal. Typical!

Murphy's Law - If anything can go wrong it often will.

Vigilence is key.

Sods law also that things start to happen if and when you split your attention.

I don't get distracted that often, but i do make mistakes in my plan too frequently for my liking.

Therefore I've cut down a lot on boredom induced distractions like non-trading related web surfing during the day, in order to maintain full focus.

When in a trade I am fully focused. It is the times in between that typically present the problems.

Now that i am trading GBPUSD, instead of EURUSD, I am finding that much more attention needs to be focused on the chart because GBP moves so much quicker than EUR, and often in > one pip increments. This is not good for blood pressure!

EUR is fairly mundane, and you can be fairly sure how quickly it will moe X amoun of pips before you need to return full attention, but GBP can move ten pips in the blink of an eye, for no obvious reason, maybe moving price twice as easily as EUR (IMO).

I could not trade without multiple monitor setup, I currently have 2, but have a third, sat on the floor yards away from me, which i sometimes think would be worthwhile connecting, (but would need an extra table to do so) as it would give me greater room for manouvre etc.
 
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Haha, Forgive me father for I have also been a chump...

I gave back 28% of my day's profits at BetsForTraders.com by going short cable near the low on a bunch of 15 minute long shots at 17/1, and 19/1. I did not stick to my strategy because it had worked so well I thought I was in tune with the Big Man like you Father and got a little carried away on a 'hunch' before compounding the problem in my CMC account by chasing it further down and losing another 8% of the day's gains.

Thanks for not taking more Lord!

It is 15 years since my last confession etc etc...

;-)

I think this deserves a worse penance than 3 Hail Marys, 2 Our Fathers and a Glory Be...

Discipline is harder for me when I'm doing well.

NQR
 
i confess that yesterday i was so focused on trading a new setup, that it became an opinion and traded on the wrong side.

j
 
Forgive me father, for I have been a ****.

I shorted Cable early Am 1.9863 according to my method and setup. I sat patiently for 6 hours watching noting it was still short, so nothing to do but sit.

After 6 hours odd, I took my chart and adjusted a parameter, what known as tweaking something whilst being bored ****less. Anyway, I adjusted from 20 to 18 this parameter and thought nothing of it.

I sat for another 2 hours watching, noting how the market was rejecting higher prices ,just based on the price.

Then I got a signal to go long, first of the day, 9 hours after patiently holding short.

The pullback was swift, it looked odd, but the instinct in me ,and seeing the green for go signal on my setup , didnt make me hesitate, nor should it.

But upon getting my deal ticket back, some seconds (1 or 2 ) and tidying that up, the position was already 10 against.

**** i thought, that shouldnt happen, it rarely does. I noted on my chart it was breaking down, odd I thought.

Anway my green go signal turned red, market sell, some 3 minutes later, the price then was 20/30 odd against.

I didnt panic, but was ****ed off, this doesnt usually happen, not on this setup.

I thought for a moment, back to my tweaking the parameter earlier, from 20 to 18.
I adjusted it back to its original construct of 20.Upon doing which and looking at the output it was still blood red, from early Am hold short.

What a **** . Now im holding long which is , as I write 30 against. Wiping out over 50% of prior gains which would of doubled had I not ****ed about.


Ive put a hard stop in now some 15 points below current price. Limiting my loss to -48 should it be hit. But my setup still says hold short, what a ****.

What a ****.

Thanks for listening

Crap Buddist.

Additional comments.

STOP HIT.

what a ****.

:cheesy:

plan you trade,trade your plan...

maybe we all should just follow the prevailing trend which is currently UP
 
here i go again, have to confess.

dont take a short because there is no setup of my liking. trade moves significantly. i feel "the missed profit" effect.

I know i shouldnt chase a missed profit, and i know where down move should finish, but decide not to call the bottom, and pass. as predicted, the move finishes, and i dont take my trade where i should. another round of "missed profit effect on emotions" goes on.

wait patiently, find a setup, take a long, immediate profit, move a stop to breakeven, go out, get stopped out, price moves down to my previous identified support, and price carries away without me.

I confess i should not move my stops until it is clear it should be done.

bu99er
 
I confess to not waiting for a repeat 78.6% fib retrace on GBP/YEN.

I thought resistance at 50% would hold.

I must remember that retracements can repeat.:eek:
 
here we go again

I confess of exiting a trade too early (-3) when a 60 min bar spooked me out, challenging my stop first, giving me an early exit. only to see price go in the right direction afterwards ( a bit bumpy though).

Second confession was to have a long in a different pair, served on a silver plate, and missing it for having to wait for a 4 hr close for confirmation. once confirmation was there, i didnt take it for 2 reasons......first, suffering of a heavy jetlag, second, didnt want to take all the risk implied in the trade (i.e. larger than normal stop).

I used my holiday to work on my stops. Seems to have worked. third confession, is not to trust the setups i like.

j
 
Blimey - for a buddist you don't half swear a lot ;)

is that why you're a cr*p one?

p.s. incidentally though like the thread - think a cathartic thread for admitting we all do our cods from time to time is a decent idea. The fact that it made me laugh as well is just an added bonus.

GJ

lol GJ

think this buddist behaves a bit like a catholic. he sins, confesses, and goes back to sin again :LOL:

j
 
Blimey - for a buddist you don't half swear a lot ;)

is that why you're a cr*p one?

p.s. incidentally though like the thread - think a cathartic thread for admitting we all do our cods from time to time is a decent idea. The fact that it made me laugh as well is just an added bonus.

GJ

Cheers Gammar, I had to get out of my system. And I was feeling really pissed at myself.

Crap buddist , hmm a recognition that people generally have a tough time "letting go", their sense of attachments to things can sometimes effect or lead away from a more positive experience / outcome from the situation they are involved in.

We are humans and creatures of emotion who "feel" life, maybe adopting some buddhists philosophy when trading can help shed, or enable a better processing that may help individuals be free to make an effective choice of best action and truly feel the experience at the same time , LOL..

Hang on NFP, 80 against.... Ommmm, Ommmm. kin ell, :p

Attachments, thats a big area in trading I think.

Cheers.
 
Holda me todous :)

lol GJ

think this buddist behaves a bit like a catholic. he sins, confesses, and goes back to sin again :LOL:

j


Gawd knows what I behave like. Married to a catholic schooled by nuns. :p crikey I would.

I'm off cooking now ... Chile.... (cough,cough) ...
 
now do i have to say anything more as to why I chose the member name...CHUMP
a daily reminder only superceded by tattooing 'SUCKER' on my forehead.....
works for me.
 
I meant to go long, but i'd gone short, but i didn't know for sure i'd gone short, so i sold to exit, and this just doubled my position, and so i had to go long, twice, just to get out of the fecking thing. It just doesn't get much worse than that. Needless to say - it lost!

:confused:(n):sneaky::sleep::rolleyes::eek::-0:(:cry::eek::(:mad::devilish::!:
 
After a hard days toiling at the charts. Dont you just love it when you have to do a post-mortem on them.

"Well it kind uh should have ended with me making +40. But somehow i've de-excelled myself & managed to make -40. Damn! how the **** have i done that!?:confused:.....mutha****a!"
:mad::rolleyes:
 
Oh forgive me Mr. Market for I have sinned.

Today I was weak and lost faith in the p--bar setup. I thought I knew better than the rules - I thought I was being really clever by closing out the position early. I thought I could move my stop to breakeven before a retracement had occurred.

I got sucked into short termism and threw away pips.

All I can do is print out the offending charts and review them regularly to remind myself that when I think I am being clever I am in fact being really stupid.:!:
 
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