Trading (and Life) update July 16th

It was a hard night’s sleep last night with the skating injury burning and waking me up several times at night.  I did eventually make it to the office shortly before 9am.

The deliberate improvement I wanted to make today was to be more patient with getting into trades and making sure that I followed all the strategy parameters.  This should be a given in any trading session, however I failed to do that during the prior session.

Patient I was, and only entered into two trades.  Unfortunately both again were losers, for a net loss of 1.4R.  The first trade, a short NZDUSD position, was interesting.  I ended up shorting very close to the low of the day.  It made me think that I have to pay more attention to the distance between the EMA10&20 and the EMA100 – the trade becomes much riskier when price is overextended, i.e. when it is a fair distance from the EMA100. I will pay more attention to this going forward.

The long AUDUSD trade traded very tightly for a good hour and a bit, and I eventually had to close prior to the USD news at 1.30pm – the reaction to the news was in fact very muted, however price the gradually rallied to the T1 level.  My habit is to always exit open trades prior to Tier-1 news.

I feel frustrated – I am obviously tinkering around with developing the strategy – making small changes here and there – or am I?  I will just keep going.  Risking £50 a trade and with my current standard of living, my bankroll will last me a long time (I had made a deliberate point of quantifying my bankroll with some precision – and the figure is ok).  So I will just be patient and keep on working hard.  What motivates me is how things will be if I can make this trading operation work!

Left the office shortly before 3pm to watch some Tour de France.  After that I was half-asleep on my bed, looking at some 15M charts for insights.

It’s gone past 11pm.  I laid down to sleep two hours ago, but the pain from the skating crash and the warm temperature is keeping me awake, so now I am back awake.  Maybe I am not made for the early starts?!

A good thing that happened:  This morning I did my visualization exercise for the first time in a long time, working through the document that I have compiled over the last few days.

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