July 27th

Fairly interesting day today, although rather quiet because of (i) being Monday (ii) only 1 bit of Tier-1 news (iii) it being summer and (iv) key risk events later in the week.

Upped the risk from £50/trade to £65/trade – still huge sums that I am discussing here 🙂

Managed to hit my goal of trading both the morning and the afternoon sessions and took valid setups only – on EURAUD/GBPAUD, as well as SPX500 and US-Oil in the morning, and then USDJPY/EURJPY in the afternoon.  Also did my visualizations as planned and worked hard and concentrated very well.

US-Oil is not something I have ever traded before – although there was a valid EMA setup – the instrument does seem to behave somewhat differently than a typical currency pair – and my colleague suggested it does not lend itself that well to trading on lower (intra-day) timeframes.

Both the AUD crosses actually reached the T1 levels and went further but I had closed both positions (one at scratch and one at 0.7R loss) because I got scared – and then didn’t stick to the plan.  That’s unusual for me.  So those two trades were the supposed winners of the day,  with the rest coming out as partial losers or scratch trades.  Thus, ended up losing pretty close to 3R (!!) – not a great day results wise.  Thus the average size of the losing trades was 0.59R.  But fairly good day as far as following procedure and systems, is concerned.  Well, aside from closing the AUD crosses early.

Same again tomorrow.  See you at 6am.

Added on 24th October (I came across this handwritten note whilst doing filing at home):

Sunday, 27th July – Cafe 1001

It’s 9.33am.  I have just downed another “Garden of Babylon” breakfast.  Am sitting here in a totally deserted Cafe 1001.  There’s only two other people in the entire upstairs area.

I feel buzzed.  It’s been another intense week.  Another trading-obsessed week.  I continue to be mesmerized by it all.  My thoughts constantly revolve around it.  How I can make it better, how I can be a better trader – how I can have more processes and structures in the business.

On the weekend it just feels like I have been a good boy – that I’ve been working hard, that I have earned the right to relax and chill.  I can’t wait for Monday morning to roll around.

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