Posts Tagged trading emotions
I finally closed my Crude Oil long today and made a nice 120+ points.... a good trade but it was also a fascinating experience for me with regards to my trading emotions.
I mentioned that it was a premature entry which I had made on the 25th October - exactly a week ago. I was overconfident due to a pretty good week trading and put on my crude oil long at 8600. I hadn't waited for a confirmation for my entry so psychologically wise, I wasn't best pleased with myself. However, I had committed
November 1, 2012
2 Comments Full Story
For those who read yesterdays post where I had missed out on a nice 55 pip profit on the EURUSD as my system had not identified the exit went to hit the stop target which meant a 28 pip loss overall is rather annoying. This actually means that your account, if you take a nominal starting account of 100 for example, was 155 if I had closed when I thought I should have closed to 72 after the stop was hit. You can see that this means that in fact, I lost an overall of 55 + 28 = 83 pips which is a l
June 15, 2011
No Comments Full Story
Most traders have a few or just one trading setup which they execute over and over again. A trading setup is when there is a predefined condition on the traded instrument which signifies and entry and exit. The most successful traders are those that know their trading setup has a positive expectation overall and are disciplined enough to run the same trade over and over again when the conditions are right.
I have read a lot of trading books and I think the key to becoming a trader is firstly
May 24, 2008
1 Comment Full Story
