Smarter trading

Today I tried just to take high probability tiny scalps. Not much drama, it's going my way or not immediately. Grab few pips and get out without much consideration what will happen next. I imagine that's the way A pip throwing party is trading, thanks to Harvey over at Trading is Fun for introduction to that blog.

+11 pips

Two sessions

In the morning I jumped in unprepared and unbalanced. I was boasting with my discipline last few days, well today I wasn't so proud on how I traded. On good note I never moved my stop today, so that is great if in low discipline day I don't move stops. In first session 22 trades of which only 5 profitable.
My p&l in pips moved -43 +34 -28 +28 finishing first part of a day at -9 pips.

Second part of trading was more reasonable. I caught move after news time but later missed trades at the top and the bottom part of the range which I was looking to enter. I didn't really wanted to trade any more, but somehow I entered and after one loss there was battlefield again. +23-24+29, so +19 at the end of a day.

On an interesting note I can add that full margin trading on day like today means from equity low to high +24% swing. Will see how it will be handleable with more money in account.


+19 pips

Catching the move

Lot's of bearish market chatter so I was looking for short. I wasn't trying to scalp really but to catch the move on time and hold it a little. Many stops taken until I finally caught it. You just don't know when will it start and if you are not in you are late. After that push down I perforemed poorly on next three trades losing majority of gain. Poorly is too strong word, I just didn't have much of gain because I had to cover previous stop loss trades. Those trades were legitimate trials. Last trade retrieved lost on them.

+16 pips

Two scalps

+11 pips

Playing contrarian

No breach of discipline, great. I must admit that I got very angry after my third trade played out as I was hoping, expecting it but without me. I got shaken out just before the move. You try to save few pips and not get full stop and you miss the move because of it. So my trades after were entered in angry state of mind. Luckily I held my last trade and didn't make same mistake.
Today it was kind of tricky to trade so I chose path of pretty much contrarian trades to my usual ones. I was playing range and gunning for fast reaction in opposite direction of immediate trend.

+11 pips

Evening trading

I'm very pleased how I traded this evening. It was mostly negative, but no breach of discipline at all. Even my emotions stayed cool. As far as trading opportunity I would take all of those trades again.
It's interesting to trade without stop loss red line on my chart, so no easy way to widen the stop loss. Brain quickly adapts to new reality and it's as it was never there. So now it's kind of awkward situation when it looks like something is working that I could set up years ago.

-10 pips

Night trade

-7 pips