13/4 – distasteful start to my trading week – but a fast 7.5km run!!

(It’s only fair that I share bad days as well as good, right?

Monday

At my desk by 6.55am!  Good level of self-confidence, energy, alertness. Proceeding to….. a total washout!!

I ended up with a loss in excess of 4R – I just couldn’t get the trades right.  I made good correct reads of EURUSD, Cable and then EURJPY between 7.30-9.30am, but didn’t get into any of them because the desired retracements of a few pips just didn’t happen (I had actually placed the limit-entry orders).

A lot of the trades went on the DAX – it ended up having a tight 60-point range until the end of the cash market (4.30pm GMT).  For some reason I kept on buying the near the top of the end of the range, betting on a rally to the 12,400 level.  It looks rather silly in hindsight.

In early afternoon a Japanese official commented that USDJPY should be trading at 105 which triggered volatility in the Yen crosses. I shorted USDJPY and EURJPY risking 1R on each as they retraced (thinking back to RBA comments re AUDUSD and how that turned out).  I ended up getting out with a 0.5R loss in total.  Both would have eventually hit the full stop.

I ended up with some late trades on long Cable, long EURUSD and short DAX – which netted back around 0.4R.  But they were probably a bit in the afternoon.

So a pretty hectic day.  As my R is now up to £140, the loss for the day was just shy of the £600 mark.

I am thinking that there will be days on which I will end up with a 5R loss or a 5R win, simply because the win rate is around 45-50% and I am taking a lot of trades on some days.  A loss of 4R doesn’t mean that i traded really badly.  Likewise a win of 5R doesn’t mean that i traded like a star.  What really counts is the net result for a week or a month.

Well I guess I would rather take the 4R loss in one day, learn quickly and move on, then drag the 4R loss out of over a week.

Psych Review

The destructive trader inside me was responsible for all of the trades past 3pm – I had already decided to finish trading for the day and just to spend some time reviewing.  How’s that for a detailed psychological review?

However on the flip-side….

runner

Remember it’s advisable not to have all of your eggs in one basket – a couple of nice non-trading things happened.  I managed to give a good helping hand to my nephew with his school-work and then I ran 7.5km around the City of London in a pace that i never thought that I could do (4:02/km average!!).  Oh yes – there is a picture of me (well, at least that’s what it felt like!)

Bring on tomorrow!!

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One Response to 13/4 – distasteful start to my trading week – but a fast 7.5km run!!

  1. Stephen Murphy says:

    4min/km! Nice one.

    Liked by 1 person

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