Nov13 – Oil falls to $75, “George recovers from the lows”

Surprisingly I did manage to scrap myself together and spend the day at the office.

Purposely didn’t enter into any trades.  I am definitely not in the right mindset for it.  And I have to remember that the key reason for getting myself into a mental slump is the string of losses I produced in the last two weeks.

I tried to think how to carry on from the confidence low-point.  I spent quite some time analyzing and drawing on the charts of DAX, Oil and Cable on all the timeframes from weekly down to 5M (basically trying to apply what I listened to yesterday at the Traders Club Alpari seminar) – this actually seemed quite useful.  I think/hope it will provide me with some context for applying the EMA trading strategy.  That’s what I will have a look at tomorrow.

At the trading office, I feel somewhat out of place – surrounded by profitable traders who are good at trading – it feels like I havn’t earned my spot there – and it’s depressing to think that I have so much time on trading without yet being profitable – I guess it’s normal that this kind of thought keeps going around in your mind.  Ah well, rather that, than not being in a trading office at all.  The guys must really think that I am completely clueless about it all.  I would, if I was in their place.

In any case – feel a lot better than yesterday.  I seemed to have somehow pulled myself together and kept going.  I am not used to being in a place where I am not winning – I am used to seeing reasonable levels of success in most things I do – I am not familiar with “continuously being knocked to the ground”.  Gee, talk about the School of Hard Knocks.

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