Wednesday, March 18, 2009

3-18-09 Ugly trading

This morning's trading action felt a bit like being led on. After watching a very strong New York open, the volatility for the day just fizzled.

Two lessons to take from today's trading. One, letting my stop get hit by Oanda's execution is a mistake (duh). Took 2 pips worth of totally unnecessary slippage on that first trade. Second, was that being close to my drop dead point, I choked and didn't take trade number 3. It is very hard to take 2 losers in a row and then come in with the exact same trade idea and make number 3 a go. Unfortunately, this is exactly what ends up being profitable 9 times out of 10.

Overall -7.5. Not exactly on my A game this morning, and the market wasn't exactly giving away freebies. Feeling pissed at myself for getting sucked into taking any trades at all with this weaktastic volatility, but not sure I could have seen things any other way.


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