Tuesday 30 June 2009

Still Fighting My Personality That Doesn't Double Up On Winners

As I said in my last post. Good things come to those who wait.
A close to 30 pip thing came to me, rewarding my patience for the last 4 hours.

My covered short EURUSD is contiuinng to fall which once again has me hitting the desk with my head.
WHY CAN I NOT DOUBLE UP ON WINNERS!?

I must also add that this last winning trade has more to do with my gut and luck in the first place. As you can see price moved up 20 pips against me over 2 hours (I was holding on to a loser). I also still can't see any real pattern from candlestick charting that would have alerted me to the chance to go short (and also no reason to buy back at 1.4091!). It's at 1.4065-70 now breaking down just like I imagined in an earlier post. If I'd doubled up where I sold I'd now have double the profit. I must be stupid 

(Update: Just been looking at the chart below and trying to understand why I sold the F'ing move of the day so prematurely!? I see now that I thought it was approaching support of 1.4080-90 and didn't want to risk a 30 pip win when it had been a 20 pip loser until recently. Mistake I made: I didn't wait for the support to proove itself OR as it did within the hour - crash though it signalling sclaing in would be in order! It's really really annoying. My hope now is that I've learnt what to wait for in future and NEXT TIME scale the hell in!!!!!).

Fav comment of the day over at Kenny's Blog: (one comment poster answering anothers musing over whether N Korea will be creating bad news over course of next weekend)
"Don't worry about N Korea. The US has erected a wall of green shoots to block any incoming missiles. The backup plan is to hack into the N Koreans TV satellite and make them watch CNBC until they are happy and realize that the US has everything under control."







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