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10-10-2008, 07:53 AM
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Time Out
Yesterday I drew down just over 10% of my account.
Man it was easy. I thought that I'd cracked being disciplined but obviously not. Anyway. I'm not too sore, so it's not the end of my trading but I am taking some time out. Going to see it as an opportunity to sort out all that non forex stuff that I've been putting off. I'll be around the forum/chatroom I'm sure but for now trades are on hold.
__________________
Root for the underdog. No matter who they are. Last edited by Olby : 10-10-2008 at 08:01 AM. 
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10-10-2008, 12:33 PM
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Hi Olby,
Sorry to hear that mate, it sure is a risky time to trade. I've not really been trading for a while now, mainly due to my family problems. Hope to see you back trading soon.
__________________
"When I die, I want to die like my grandfather - peacefully, in his sleep. Not yelling and screaming like all the passengers in his car" (unknown author)
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10-10-2008, 01:26 PM
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Hi Olby,
It takes a strong character to come clean when things dont work out well. I have taken my fair share of hits too recent weeks. Pleased to hear that your not bailing. Take some time to re group let the markets settle. I'm staying out for now too. Cheers Rich
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10-31-2008, 11:41 AM
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October Wrap-Up
This month was scratched for me.
The drawdown I experienced at the start of the month concerned me more as the days went by. Not because I'd had a couple of losing trades but because during the day that I coshed myself with two bad trades my money management wasn't in the room. I wasn't using my brain. In a moment of clarity I realized that the bigger problem was not the loss of capital but a knock to confidence. Not just on that day but over a while now. I've been off target a couple of months and issues have built up. There were some good trading qualities that I had at the start of the year that have slipped. I found it a lot easier to enter trades, to let trades run to target and evidently to execute stop losses. The elephant in the room: I was trading smaller positions at the start of the year. If that's the key then the right thing for me to do is to reduce the size of my account. I was thinking it, then I had it kind of confirmed here: http://www.forex4noobs.com/blog/sign...itable-trader/ It's a good article Nick. It helped me see that although I went off track, I am getting a lot of stuff right too. So, the account has been re-sized and the focus is on getting my trading up to scratch. Hopefully sometime early next year I can start to gradually build those position sizes, expand the account and get to where I want to be.
__________________
Root for the underdog. No matter who they are.
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11-02-2008, 10:57 AM
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Glad that you took some time out to re-asses.
Good to have you back 
__________________
"When I die, I want to die like my grandfather - peacefully, in his sleep. Not yelling and screaming like all the passengers in his car" (unknown author)
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11-06-2008, 09:01 PM
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Short trade at 153.33 +32 pips
I had a slightly late entry on this but it was a very quick trade, less than a minute. It made sense that there would be a push if it made it past this line after the effort that it took getting past 153.67. Staying out of that one almost counts as a winner. Good to get a trade on. Especially after sleeping through alarms on the last scalp. On to the next one. 
__________________
Root for the underdog. No matter who they are.
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11-06-2008, 09:11 PM
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Hi Olby, good job!
How did you know to stay out of the 153.67 trade? Quote:
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11-06-2008, 09:36 PM
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Quote:
I don't really like trading at this time of day and it just didn't look right. Watching the lines 154.14 and 154.06 break made me think that people might close out shorts as it hadn't flown through. If in doubt stay out and all that.
__________________
Root for the underdog. No matter who they are.
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11-28-2008, 12:33 PM
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November Wrap-Up
A fair good month.
Ive had one Nick B method scalp +32 pips I've also been trading Furious Angel's MTF system +228 pips 15 good trades, 3 bad, 1 break even. I've had Furious' system up for up a couple of months. I was using it when I strolled off the tracks last month. There's a bit of brain use that needs to go on but I'm getting better with it. Still needs a lot of work. I should have had a few more Nick B trades but I've been a donkey with my alarms. November: +260 October: Total write off due to bad money management. September: +59 August: +75
__________________
Root for the underdog. No matter who they are.
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11-28-2008, 05:31 PM
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Nice return to trading mate, glad you took some time out.
__________________
"When I die, I want to die like my grandfather - peacefully, in his sleep. Not yelling and screaming like all the passengers in his car" (unknown author)
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