Unlike previous weeks when my scalping was going good on most days, this week is quite a blunder from the overall perspective, just like my previous post in Malay...
I guess the Feng Shui is just not on my side this time. Time to take a break and review on what I have been doing all these while.
Ok, straight to the lessons learned (or perhaps lesson never learn coz some of them were previous mistakes that I tend to forget, well I'm just a normal human)...
1. The market force is very inevitable, just do not go against them. Simple.
2. I was longing the UJ a few times when the only thing to do with the pair is to go short this week.
3. I was longing the GU with 2 positions at 1.6539, it went down briefly to 1.6479, my Stop Loss was at 1.6439 (-100 pips), was on -60 in red, a bit panic, exit my both positions and the price raised back all the way to my original 100 pips 1st TP @ 1.6639 without looking back within 24 hours. The pair later topped at 1.6741 this week slightly over my 2nd planned TP @ 1.6739, could have got over 4k from these positions. What a mistake to pull out. I should have trust my position and hold on... but... how am I supposed to know? Last time when I hold it hunt me all the way to my SL...
4. The EU has been ranging for the past few weeks that I tend to forget that a breakout and trend is likely just around the corner. When this happenned, I still treat the pair as ranging and as a result, I breakeven whatever my gain on buying with the wrong position in selling.
5. When you have a strategic plan and a proven system, follow it dilligently. Do not try to be too smart or making earlier entry just for the sake of getting an extra few pips. This is what we call DISCIPLINE. Once you start bending the rules, it becomes a bad habit and subsequently you will make one bad entry to another...
6. The percentage of account drawdowns this week is significant and there is no one else to be blamed but myself. I must admit that I did take a few unsuccessful revenge trades that prove to be regrettable decisions.
7. The market has no mercy. Like it or not, I did feel like my stops were being attacked from time to time. The gurus told me to trade what you see, not what you think... but sometimes what you see could be deceiving, just like my case in item #3.
All in all, I have no choice but to come back from this week. I feel like being battered, slashed and slaughtered by the market, left naked by the corner with no one dares to care and ask who did this to me... pity huh?
And to my shareholders, please bear with me as I have full confidence in bringing back our winning streaks. I am glad that you guys are very understanding on the situation that whether we like it or not, this is just part of the game. We do have losing battles from time to time.
The question now? Can we still win the war? The answer is YES... but we should not rush...
I just need some time-out as I need to clear my mind from this week's unsuccessful battle with the market.
Enjoy your weekend Guys... and by the way, next week Hari Raya ! next week Hari Raya!
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