Luck! Get it? Sounds almost exactly like f...
Posted 10-09-2008 at 06:33 PM by wasp
'they' say, luck doesn't come into it. with a solid plan and discipline, luck should not be part of the equation. Normally, I'd tend to agree but this week, luck has been the factor for me and not in my favour.
Of course... are there times when I just didn't realise my luck (thanks Slevin!) but atm, can't say I'm happy about things.
There have been 3 pivotal points this week.
Firstly, in order to tighten my reigns on risk, I have a 4-loss-run 'rule' which means, I wait for a new solid trend and cross before re-entering. That missed me 500+ pips over the next 2 hours.
Secondly, I took a trade, it got stopped out, then my hard drive over heated, my laptop died and without a second PC ready, I missed the following entry, 20 minutes later which would have made me 400+ on the rise.
Lastly, I looked at the 5 minute TF today as over the last 36/48 hours, it has been perfect and like a regular week, in just a day. I checked entries and trails and exits, and the stats showed the best options. I exited per this, and down another +300 it goes.
Of course, whist I missed all 1200 pips I 'should' have made this week, I did manage to catch EVERY single losing trade without a hitch!
It would be funny if not so tragic.
Of course... are there times when I just didn't realise my luck (thanks Slevin!) but atm, can't say I'm happy about things.
There have been 3 pivotal points this week.
Firstly, in order to tighten my reigns on risk, I have a 4-loss-run 'rule' which means, I wait for a new solid trend and cross before re-entering. That missed me 500+ pips over the next 2 hours.
Secondly, I took a trade, it got stopped out, then my hard drive over heated, my laptop died and without a second PC ready, I missed the following entry, 20 minutes later which would have made me 400+ on the rise.
Lastly, I looked at the 5 minute TF today as over the last 36/48 hours, it has been perfect and like a regular week, in just a day. I checked entries and trails and exits, and the stats showed the best options. I exited per this, and down another +300 it goes.
Of course, whist I missed all 1200 pips I 'should' have made this week, I did manage to catch EVERY single losing trade without a hitch!
It would be funny if not so tragic.
Total Comments 5
Comments
|
It's almost like aging backwards, isn't it? We have to relearn how to trade when conditions change. And in the process, we take losses. That's inevitable, so far as I can tell.
I'm learning that this is a market that is requiring quick adaptation (sometimes it changes every week). It's disconcerting and frustrating. But it all adds a tick to your experience level. At least you didn't catch EVERY single losing trade on the 5-min candles, Wasp. That wouldn't be tragic. That would be catastrophic. Hold on to your bottle... sleep it off... but don't let the horse stop you from riding, buddy. If there's anyone in the world who is good at adapting, it's you. I've seen you in action. And so has everyone else. And if you can't adapt, wait until conditions change into something you can handle. This too will pass... maybe not fast enough, but it will and better times will come. |
 
|
|
|
Thanks for the kind words cowpip and I know what you mean, although, I would say this week has not been about adapation to the climate, except maybe the last scenario. The first 2 just came down to luck, pure and simple and there is nothing anyone can do about that!
Just have to grit teeth and move on........ |
|
|
|
|
You're right. Not a thing you can do about it.
Sods law came home to roost with you this week. I have that same mentality with my ISP - who seem to pick the most inopportune times to go down. Oh well... shoot a dog and move on. |
|
|
|
|
|
|
|
|
|
Lol... indeed.
|
|
|
Recent Blog Entries by wasp
- Its a bit like depression! (10-23-2008)
- Good old Merv (10-22-2008)
- Wk end 17th Oct (10-18-2008)
- Flares, punk, glam, angst and ......... (10-11-2008)
- Wk ending 10th Oct 2008 (10-10-2008)
