Tuesday, October 20, 2015

WEEK IN REVIEW: 12 Oct to 18 Oct 2015

This post is a few days late.

I ended down last week, with 3 losses and 1 win. At the end of the week, I felt very unhappy and walked away from trading to recollect my emotions.


I had entered this trade the previous week, and held it over the weekend. It got stopped out Tuesday 13 October. Price resumed moving in my favour the next day. Ah well. 

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I had spotted a tiny bullish pinbar at Monday's close, and placed my TP just below a congregation of local highs. I was stopped out the next day. The candle's small range may've signaled sellers moving in.

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This is quite an exotic pair to trade. I saw a low volatility retracement candle at Tuesday's close, and went short on the break of its low. I took profit some distance above the last major swing low. I think my TP was technically well-placed, and got out with a 1R reward.

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This one was a loser. I spotted a low volatility retracement candle on Thursday morning, and went long when it broke higher. Alas, price action for the day was very choppy. The market turned against me shortly after I entered, and hit my stop loss. It then resurged upwards and closed higher for the day. Very choppy.

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Last week was psychologically damaging. I finished September strongly positive, but have struggled for October (I'm down about 0.8%-1% for the month). I decided to step away from trading during the weekend, and spent some time yesterday and today "system hopping", which is very bad. Basically I opened up a new chart and felt like experimenting with daytrading with 0.05 sized lots. I think I ended up opening about 10 trades and losing $5. Could this be an outlet? If you feel the need to revenge-trade or to system-hop, do it with a small amount and get it out of your system.

I also spent today going over my journal and doing more backtesting. I found that positive backtests + a profitable journal to be mentally soothing. Keep these handy!

Besides the "dummy" daytrades, I haven't opened any other live trades. I'll get back to proper trading tomorrow. 

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