OH NO! IT STILL HAPPEN AGAIN...

Please accept my apology as the picture may be deceiving. This post has nothing to do with MU and Ronaldo. I just want the expression shown. By the way, tonight is a deciding game between them and Arsenal and I can feel that title will be retained at Old Trafford. Only 1 point is needed. If they can't make it, no one else to be blamed for sure. (UPDATE : YES, THEY RETAIN THE EPL TITLE! CONGRATULATION!)

Anyway... back to my trading...

This week was rather good as I have been on defensive mode from Monday till Friday. Even with defensive style of trading, it was at 96% profit level before I opened my final and losing position.

It should have been a net gain of 302 pips for the week but then, still I just couldn't resist that one last trade in order to make it over 100%.

Guess what? Rather than making that aditional 4%, I lost 50% of my weekly profit by losing 100 pips just before New York closed its curtain last night. EU was seriously driving back south 3 hours before the market closed. Mmmm, why didn't I just follow... I wonder.

Though the week is ended up with a handsome growth of 46% of my equity level, I still regret on what happened.

Well, perhaps this is something that people say as endless learning process. Me and myself are the biggest enemy to my own success.

The reason I hold on to the trade was because the 30 minutes SMA trend were still heading North. The 5 minutes has clearly shown reversals but I chose not to obey.

As a consequence, I lost the trade. Last time when I followed the 5 minutes sign, it happened the other way. What can I say? Perhaps I could tell myself that I was unlucky in order to justify this losing trade, haha.

Anyway, I can see that each day the logics behind the 3 main elements in trading becoming clearer as now I have seen the connections are getting even better from one to another. You need all three in balance or there'll be no chance for me to survive in this market.

The 3 elements are:

Psychology - 60%

Risk Management - 30%

Trading System - 10%

Why psychology is the most important? It is because it is you and your psychology that triggers any trade that could lose or add money to your equity. Handle this element wrongly and get ready to be burned out, instantly!

Enjoy your weekend!