Nov 12 – UK QIR day & Temporary Trader Shut-Down

Woke up at 5am.  Was at the office by 6am.  Tried to trade carefully prior to UK’s Quarterly Inflation Report at 10.30am.  Attempted two breakout trades on Oil – both lost.  Seemed like terrible trading.  Had a scratch on the DAX following a bullish 123 pattern.

Confidence fell to a long-time low after that.  Looked at the charts and couldn’t see anything.  Left office at 11.30am with very few words to my colleagues.  Spent a few hours sitting there staring into space, not sure how to proceed. [Note added 27/12: Investing all my emotional capital into trading, without providing balance in my life (e.g. sport, hobbies, friends, relationship) is a high-risk strategy.  If the trading turns sour, then there is little left to catch my fall – nothing to balance things out.  This can quickly lead to me as the trader being paralyzed and shutting-down.  This is far worse if it occurs whilst I have open positions in the market, and am not able to decide what to do with them – Trading Psychology textbook Chapter 2]

Went to a Traders Club Seminar from 3-5.30pm at Alpari.  Just listened in.  Made me realise a couple of things I am not aware of.

Talked to sister and a friend, explaining to them that I was having a pretty tough time with my dream/goal of becoming a successful trader.

A further blog post with “Trader Shut-Down” was on 3rd December.

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5 Responses to Nov 12 – UK QIR day & Temporary Trader Shut-Down

  1. Pingback: 3/12: The beginning of the end? [Temporary Trader Shut-Down] | George's FX trading blog

  2. Pingback: April’15 Trading Psychology Wrap & Blue Print for this month! | George's FX trading blog

  3. Pingback: 6/4 – Steenbarger Psychology Text – Chapter 2 | George's FX trading blog

  4. Pingback: 15/4 – K7 Strategy Update – 100 trades completed | George's FX trading blog

  5. Pingback: 17/2 – An Very Ugly Day | Trick or Trade - the story of a currency trader...

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