Friday, February 5, 2010

The mouse and the cat (mistake of the month)

You are just a little mouse in this job and the market is the big hungry cat. The cat lets you have your daily food but If you are distracted for one single moment, you are lost, he will catch you for sure.

Post-NFP and I let the two elements of a common trap to be present: an unmotivated entry and a moment of distraction. So I entered against the fast trend, I was distracted ,I hesitated for a moment, no stoploss and then it was too late..! Closed finally at -92, at 123.33, which was the absolute high of the session!..

I had a moment of dilemma after this. To stop there, with a -13% daily, in order to protect a 52% gain for the week. Or to try to recover the day, using the extreme volatility of the recent days in my favor, with no more stupidities. I opted for the second and had a looong session with a lot of trades. Most of these, in the next posts.


Siddiq said...

We should always be careful with such style since it can turn into even bigger lost, so we need to be wise and trade only on merit, I am lucky that I can afford to be little casual thanks to OctaFX broker with their magnificent bonus which is up to 50%, it is really cool and use able too, so that’s why I like it so much and enjoy trading with them which allows me to succeed all so easily.

Unknown said...

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