Quote:
Originally Posted by stratocaster59
Hey Om Salat, Hans, in fact all of us,
Fighting the little gremlins, the demons, the little man inside your head and especially the guy in the mirror is THE hardest discipline to overcome in trading.
If I could count the number of times I have recognised a good entry and the idiot in the mirror told me not to do it (FEAR) and the number of times the idiot in the mirror told me to take a trade when there were no triggers (GREED), I would be a multi-millionaire a couple of times over!
Something that worked for me was reducing my lot size from $10/pip to $1/pip. I can almost trade without fear doing that and the days of hot and cold sweats and your stomach in your mouth are almost gone.
The strategy is sound and proven so just focus on YOU.
You might want to try doing cleaning and ironing at the same time which seems to help some keep their emotions in check. (Sorry, Rocky, I couldn't resist!)
Strat
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Thanks for the support Strato, nice sundaymorning to recap all my trades from this week:
I tryed to follow about 14 currency pairs
I placed about 10 trades a day.
last week I made 845 pips and I lost 1431 pips so not good at all!
but it was one stupid trade what killed me for 670 pips
, so if I not jumped in that last trade of the day I still would have a little profit.
and I traded at the 2e jan. with no volatility at all for minus 102 pips.
.
reflecting all this I set up some rules and if I can stick to them I'm sure it will be a good year to come.
RULE OF ENGAGEMENT HANS CONTRA HANS
MAX 4 CHARTS TO FOLLOW
EUR/USD
CAD/USD OR PICK OF THE DAY
OIL
WSFUTS
MAX 2 POSITIONS OPEN
STANDARD STOPLOSS 50 OR >
WEEKLY TARGET 300 PIPS
STOP TRADING BY > 150 PIPS/DAY
at least I had me statistical draw down for 2009 done and dusted
and start over again coming week, I mail my results next Sunday..
Good weekend to all of you..
Hans..