Thursday, November 11, 2010

Holding On

Didn't trade last night as I brought my family up to Johor Bahru for a day trip. Caught the recently released cartoon movie, "Megamind". Was a decently fun movie and the whole family got a kick watching it. We also did quite a fair bit of grocery shopping, moving from point to point, and as well as between two hypermarts. By the time I dropped my mom & auntie off, I hit home with the wife & kids at just slightly past 11pm. Was just too tired from the day's activities to keep my eyes open, especially after a nice warm bath.

However, I did put in a single trade the night before and I managed to secure 1.25pts. Wanting to end the night on a positive note, I decided to withdraw my second trade position, for fear that I might lose my earlier gain. That proved to be an unwise move as my order to sell would have been hit and it would have given me instant gratification as PRICE moved quickly to +1.25pts in my favour (again, if only I hadn't withdrew the order).

It's just one of those times where you question yourself for not having enough belief in what you see, especially in the PRICE movements. Anyway, the market will always be there, and trade setups will always present itself. Oh, well....

7 comments:

Success said...

I appreciate traders who post their progress, and thoughts/opinions. It helps me to better analyze positions and deal with the mental ups and downs.

Chief Risk Officer said...

hi, nice blog. let me tell u my crucial thoughts about trading.

what u really need as a trader is to belief in ur skills pushing up gains massively and cut losses short enough to come out posivtive after some time. when u do so it's possible to grow ur account continuously even by using a coin-toss entry setup.
i just do the test for myself and after week #23 my account is up by 40%.
trading mainly is a mental game. once u get the technical basics u can nearly trade what u want and what looks fine to u. but someone should never ever underrate that critical chain link called the mental side of trading.

ctlprogrammer said...

It the beginning you want to trade every day. You see missed opportunities. This all wears when your trading experience grows. Like you said their is always tomorrow.

semipro said...

I just funded my futures account and am excited to take a break from work til the end of the year. I hope to make big money. It sure looks easy, but Im sure its hard. I will try to tell you my success or failure in the next few weeks if I remember. Good trading.

gerimegaly said...

Semipro,

it's never easy...you battle with the market, as well as yourself. And ultimately, consistency is key!

Chris Tancredo said...

Thats what I have always said, personal psyque is as inmportant as anything else in trading, gotta keep the demons away.

gerimegaly said...

For sure...and it's never easy.