Thursday: Finishing up early since I haven't made this much in quite a while. Used crude oil prices to trade gold today, but both were quite choppy. I think I may have churned the account today with super short trades, but the action was too choppy to hold anything. 14 trades, mostly shorts. I was cutting profits, break evens, and losses very short today. I think it worked for the most part.
guiness commercial, BRILLIANT,quittin early,turn off the machine, go ride your bike,run away,tommorrow you will still have your confidence,feel smart and trade smart
Friday: Very poor action today in gold. Only 2 trades and broke even for the day. 1 short I did I got out of too quickly at break even when it moved quickly down a minute later. Mostly sideways movement for the whole day, and diverging from crude oil's movement. Week 15 +400 This week hasn't been too bad, building up more and more confidence in pulling the trigger now. But I'm still hesistating alot, and I know why. I keep thinking "this time it's different" when an entry signal or exit appears and I either hesitate and wait too long or just miss it altogether. Still getting shaken out of winners too fast with no trades winning more than $150 at a time. Next week I want to atleast have 1 trade I can hold onto for more than $500.
FWIW, I too sometimes get the "hesitation" syndrome. In order to correct it, instead of thinking about whether this time it will work or not, I tell myself: * This is a good low risk / reward entry point. * The system says I must trade here, I have no choice. * If I lose on a good, disciplined entry based on the system, that's OK. Of course, if your system has an edge, more often than not, you should come out in the green. Hope it helps.
you have been working on reading the mrkt and the psyche of winnning and losing,now that those 2 are recognized,not mastered but at least you are aware of a few of the pitfalls, this next thing you mention is execution,entry and exit points,try trailing stops for a while until u have a few of these large gains in your account
Tuesday: Crude oil corrected a few dollars today, prompting a big and fast dip in gold. The downward move in gold today started right when I got on. Unfortunately I wasn't able to find any entries to go short. I like to get in on retracements, but they were very weak and I couldn't pull the trigger. I need to find a better way to get in on days like this. I was able to scalp, or as I like to say, scrape a few ticks together for a positive day. Still looking for a big win here...
I'm holding onto a GC short at 906.20. This'll be my first overnight trade, as I want to move to longer time-frame trades.
Closed it out at 894.90. Wow, I couldn't sleep and woke up to check on my trade. I'd love to ride this win, but I'm booking this one. First one over 1K. Now just waiting for the oil report tomorrow.
Nice work....stay cool...for the fun of it, why not pull the profit from your account...photograph the check...and then go out and really enjoy yourself with the profits of this trade.... Guarantee you will not forget it..... Did it once...sent my wife and daughter to Australia for a few weeks....