Wednesday, May 15, 2013

CHFSGD Daily BEOB Trade - Win

CHFSGD Daily
So here is the first entry of my trade journal. I'm not very happy about this trade, for the reason stated in the screenshot. While it is not my fault that I failed to notice the S/R flip level until I'm in the trade, I still think that I'm not disciplined enough. The past few days have been very dull and I could feel the itchy fingers syndrome sneaking up. I need to be razor sharp focused, patient, and disciplined at all times. I have to trade like a sniper, I cannot afford to be hasty. I'm not a bad trader if I go for days without trading and everyone else is killing the markets, I'm a bad trader if I start taking sub optimal trades just to feel part of the crowd.

Pranti's PDF really reminded me of a lot of things, and I need to be even more determined to only take the very best trades with a good R:R ratio. I do believe that there exists a feeling of absolute confidence that a trade will go well. This feeling has only occurred twice for me this month - AUDNZD and GBPCAD trades. When I took those trades I was very relaxed and not anxious at all. It was as if I knew for sure the trades will work out, and they did. I need to only take trades which give me this kind of feeling. Such is the selectivity and discipline that is imperative to being a good trader.

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