Thursday, February 17, 2011

-16 pips

First trade was a bit naive. I jumped in after 20 pips spike in seconds and didn't bail out at the first sign of trouble. I had second chance but my mind was fixed on idea that it's a start of big move up. All my following trades were based on that premise. Small stops waiting for move up. It didn't happen. I want to note that many of my trades had initial profit marked with yellow. So it's again dilemma scalping or holding. When I hold it doesn't do me well. When I don't hold I can't believe how I could have great day just by holding one winning trade.
I somehow feel that I'm training. Why I train now after so many years I don't know. Like today I had many trades with such small stop loss set out, like 2-3 pips. I never done that before and it's interesting experience, never mind that I'm losing some money doing that. I lost before in much worst manner.
On second chart it's just trading out of boredom or wanting to get some excitement. Maybe this is real story of my trading. I really don't know, I'm just updating this blog with no real clues. One thing is obvious that trading in such small ranges of less then twenty pips is really unprofitable for me doing what I do. In the end with -33 half size pips I lose much more then I'm able to win on any day lately.

Friday, February 11, 2011

+1 pip

Again slow and ugly market for which I don't have solution except not to trade it at all. Just observe consolidation after my first trade, ten minutes at the bottom of the chart in 3 (three) pips range. Then range expanded to whole 5 pips for next ten minutes. All that in trend day, not some chop in the middle of nowhere.


Thursday, February 10, 2011

- 7 pips

At the bottom of the chart it was like I bought at my first trade and held a loss all the way down, that was equal to my cumulative loss. I lost my temper after that trade that had yellow marked gain that I didn't take. After it I was long for no good reason. This trade after trade thing is equivalent to prior behavior of moving stops and averaging.
Maybe it would be better to trade on this 30sec chart that is shown. I trade of 10sec and lose myself. Later when I look at 30sec it just doesn't make sense.

Tuesday, February 8, 2011

- 4 pips

This kind of scalping is not doing me well. I'm just building small losses one by one. First entry was late, second on time. Then I put in limit order too late. Then string of losses with market doing nothing really, and lastly trade that cut loss in half. -8 half size pips.
I feel like I'm experimenting. I'm taking too many trades for this kind of scalping market. Maybe I'm taking profits too soon also on really good trades. Don't know, I'm adjusting to doing things with those small stops. I never traded this way. Remember swings from before and averaging? So in a way it's all new to me and I'm just learning. Also market is a bit different, lack of quick followthrough for scalp moves, moves are shorter. Now twenty pips straight run is a bingo. I need to put closer attention to range on small time frames, short top of it. Usually shorting bottom of the range gives fake out and instant loss. Probably I should use more limit orders to put me in, market order is now regularly late and I give away 2-3 pips that should use as a buffer while defining is move valid or not. Maybe I should stop looking for the moves the way I used to and start thinking in terms what will give me five pips.



Monday, February 7, 2011

Thursday, February 3, 2011

+3 pips Just one trade

Ugly market for scalping but I caught one trade and luckily get myself 1R of 6 half size pips on it.

Wednesday, February 2, 2011

+7 pips One trade tick away from sl

It's very hard to make a profit in the way I used to. Market is moving differently and it's hard to predict it on any time frame with accuracy. This trade almost got stopped with sl at 32, it was one tick away.