Trading weaknesses :
PATIENCE
tend to fear missing out on the trade after identifying the opportunity and end up off side as a result
Plan, wait, watch, and then enter
FEAR
of losing profits...so take profit too quickly...Plan stop levels beforehand and stick to the plan
Friday, June 26, 2015
2015 end June :
Missed/wasted trades from H1 2015:
Was long GBPNZD at 2.13 and squared out at 2.15, It subsequently rallied to 2.30!
* Volatile cross led to fear
Was short DAX at 10910 and squared out at 10750. It subsequently sold off to 10850
* fear of losing profits
Was short Dax at 10450 and squared out around same level. Also on the move down to 10850
* fear of losing money
Was short NQU5 at 4512 and squared out at 4505 as Greek resolution approached, weekend risk and going on holiday. Same session, NQU5 traded down to 4460 ( Micron Tech results overnight)
* Did not trust the technicals enough and was not aware of the impact of the Micron news
POSITIVE SIDE: able to identify profitable opportunities
BUT unable to capitalize due to fear, lack of confidence in judgement
Trade smaller size to allow confidence, be patient before accepting wrong timing/analysis with pre determined stops
Today, Fri 26th June
analysis suggests
DXY is turning higher, and US yields rising so
a) buy $JPY at current 123.86 ( 1.2250 was the retracement move)
b) Sell US treasuries 30yr at 3.24% current....
c) Sell Nasdaq on retracement back to 4500-4515
Missed/wasted trades from H1 2015:
Was long GBPNZD at 2.13 and squared out at 2.15, It subsequently rallied to 2.30!
* Volatile cross led to fear
Was short DAX at 10910 and squared out at 10750. It subsequently sold off to 10850
* fear of losing profits
Was short Dax at 10450 and squared out around same level. Also on the move down to 10850
* fear of losing money
Was short NQU5 at 4512 and squared out at 4505 as Greek resolution approached, weekend risk and going on holiday. Same session, NQU5 traded down to 4460 ( Micron Tech results overnight)
* Did not trust the technicals enough and was not aware of the impact of the Micron news
POSITIVE SIDE: able to identify profitable opportunities
BUT unable to capitalize due to fear, lack of confidence in judgement
Trade smaller size to allow confidence, be patient before accepting wrong timing/analysis with pre determined stops
Today, Fri 26th June
analysis suggests
DXY is turning higher, and US yields rising so
a) buy $JPY at current 123.86 ( 1.2250 was the retracement move)
b) Sell US treasuries 30yr at 3.24% current....
c) Sell Nasdaq on retracement back to 4500-4515
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