Week 8Week Ending 2/10/170.48%Entries: 23
- IMG_20170212_080249.jpg (53.13 KiB) Viewed 2021 times
Week high: 1.46%
Week low: -1.68%
I'm fairly certain I should have made more profit than I did, lol.
I
just barely made this a profitable week with a very skillful UJ trade I placed on Friday.
But seriously, I guess it all comes down to risk:reward ratios.
I've made it a priority to take a lot of 10 pip TP trades b/c
①shorter-distance TP's are more guaranteed than further-distanced TP's,
②I am thinking that if I want to move away from MY MONEY & Profit Accumulation Stage 【Risk-Averse】, then I need to take the guaranteed profits when they come...
The problem is that I usually use a 20 pip SL. I try to get out of losing trades before it reaches that far, but if enough 20 pip SL's get hit, it becomes problematic. Which is how my Tuesday started out...afterwards, somehow I was able to keep a calm head, and maintain my thought process as I chose the remainder of trades that I did for that day.
So I need to figure out some way around this...to still remain in Profit Accumulation Stage, but have an ability to confidently aim for further-distanced TP's (20 pips).
The question that I will start repeatedly asking myself is,
"How can I tolerate the risk of leaving a trade open for a longer period of time, in the attempt of a TP that is less guaranteed?"
Maybe I need to allow myself to start adding-in when I have a
smaller amount of weekly profit, just that, I don't want any Add-In losses to bring me into negative territory.
PERSONALLY:
I can still say that I feel comfortable with the way I trade; --and probably more importantly-- how
I feel while trading. It is VERY important to me that trading isn't a stressful endeavor that I go through. After all, THERE ARE successful, professional traders that maintain high levels of stress; and there are also others who have achieved consistency (i.e. have left their jobs to trade independently), but feel that it is such a struggle to do so.
What I can say about myself though is that, when I feel like I am making good trading decisions but my account isn't getting anywhere, THAT can make me feel mentally exhausted...basically the euphoria of watching my account grow energizes me, cancels out any energy expenditures, and puts me in a great mood for the day, but when the account growth doesn't come despite maintaining my discipline and good decision making, it feels like I am spinning my wheels and going nowhere, and THAT just makes me feel tired after a while; i.e. Not getting my gratification is no fun.
Non-important stuff:
On another note (Good News
), Trade Interceptor now has options so I can adjust the thickness of the wicks, so maybe I will be able to post slightly smaller image sizes.
Actually, another thing --which would be even better-- is that I am considering going back to a horizontal layout for trading...I think I've gotten comfortable enough using the FXCM app, *and* switching back and forth between the 2 apps, *and* MANUALLY placing all these lines and markers that you see on my charts, that now I might be ready to do it in horizontal layout again.
I must say tho, I HAVE really gotten comfortable with my vertical layout --I NEVER imagined that would have happened when I first started out with it...
Also, I guess I need to see if I have to adjust to
any more changes once my FXCM account switches over to GAIN Capital. o_O
