6/11/2007 +$27.66, 3 trades (2W, 1L) EURUSD: +2/20 USDJPY: +3/15 B It is always disappointing when I hold a position for quite a while (because there just isn't much movement) and as soon as I close it, the trend jumps in my favor. Just wasn't my day today.
6/12/2007 +$60.75, 4 trades (3W, 1L) EURUSD: +10/17 USDJPY: +1/11 C Felt calm all morning, but my head wasn't really in it. Probably should have quit earlier, but was hoping for a nice pop like yesterday (I didn't get it).
i see you're doing better on your trades recently. good job! discipline, and the psychological part of trading, is so important - you can have great trades going, and one undiscipline day or trade can blow things up. good trading!
Thanks gaj - you're exactly right about how one undisciplined day can take out so much hard work. Like they say, it takes decades to build a good reputation but only an day to ruin it. Most importantly, I think that in some way this online journal is helping me become more disciplined - even if only in small increments.
6/13/2007 +$140.80, 3 trades (3W) EURUSD: +15/23 USDJPY: +8/17 B Should have done a better job of holding one of the positions to the original target, but started getting anxious and took profit. Quit early.
I've read through this entire journal and its obvious to me you are under capitalized. I don't see the point of trying to make $100, only to get wiped out with large losses killing 5+ days of work. Thats like taking 1 step forward up Mount Rushmore, only to have the heads fall off and crush you 3 steps later. You need to learn to stop daytrading and hold onto positions longer. Until you understand that, you aren't going anywhere.
Thanks for reading my journal EtfTraderLives. You may be right, but I think that my problem is an issue of discipline rather than day or swing trading. For me personally, it is a lot less stressful not to hold positions open overnight. With day trading I am able to treat it more as a job if I sit down, maybe place some trades, then go about the rest of my day and start fresh the next day.
6/14/2007 +$60.09, 3 trades (3W) EURUSD: +9/14 USDJPY: +1/7 A Felt relaxed and ready, just not much movement today.
Why not try this datamerc: Daytrade with 1/2 of your account Swing trade with the other 1/2 of the account; hold for 3+ days The latter will force you to pick your sweet spots.