Clawback

I think I'd be a lot more profitable if I traded as if I were down USD 1000 to start with. Today I turned over USD 6 Mio with 63 trades. Unless I miscounted :D

After I had the realized loss of 675 USD and a position with USD 350-400 in the red by lunch time I was already telling myself I can forget my targets if last weeks gains can be wiped out in one monday morning(&night). Then I started scalping, guestimating where support and resistance on a 5-minute chart would be and also flicking to 15min chart to see what that shows me. Used Bollinger Bands today for the first time. Past weeks I'd just been using naked candle charts. Clawed back to finish the day with a USD 118 loss. Bearable.

Another thing I need to trick my mind on: Tell myself as soon as I have a USD 100-200 profit, that in fact it's a loss and I need to think of averaging down soon. I'm brilliant at the opposite of that. You wouldn't believe how patient I am with my losers, but my winners? There I get panic as soon as I have over USD 100. Would be funny in a way, if it didn't cost me money all the time...

I've also noticed that I need a position, know what it feels like to be short or long to be able to trade more effectively. And if I'm putting on a lot of frequent small trades I also spend less time thinking "should I take the loss already?" - I just do it.

Below my trades list. Just for my record.... and so I can tell my broker I want better spreads! Eventually anyway :)

EDIT: If I just did my math right, I've paid my broker over 500 USD in spread today! 63 x half of 1.8 pips min spread or 7.9USD a trade of 100k USD. :S Damn!

Maybe I should go with FXCM Pro... http://www.fxcm.com/active-trader.jsp
I like having some idea of depth! Even though with hunt/hidden orders you'd never see everything of course...