2010 Trade Journal

[nomore4s]

This was primarily a bounce trade, because I'm not confident about the longterm viability of the trade. I just closed it out (1.40) because I think we're more likely to see price rise, there's news coming up, and the early entry changed things (I just hope this trade is legit).

Also, I know you've stated your reasons for closing the trade but why not just trail a stop while the trade is moving in the right direction?

 

[Mr J]

Trade was filled at a price that wasn't available.

why not just trail a stop

I don't like trailing stops.

 

[nomore4s]

I don't like trailing stops.

Thanks.

Can I ask why you don't like them?
Seems strange that you are trying to capture trends but don't like using trailing stops. It would seem to me that you would have to trail a stop somewhere as a trend develops and you start riding it.

When I was talking about trailing stops I didn't mean automatic ones, more along the lines of moving the stop to b/e or something like that and let it run.
(Just to be clear)

 

[Mr J]

Not to be results-oriented, but that wasn't my best exit. I was uncomfortable with the early/weird fill, and looked for excuses to exit. The reasons I gave weren't legitimate (for me), and actually contradict my current trading philosophy. Still, without that strange fill I wouldn't have had any trade at all.

Can I ask why you don't like them?

Sorry, I thought you were talking about automatic ones. I do it manually all the time.

 

[Mr J]

Scratch that last post. After some more reflection, the real issue is that I'm playing not to lose (low capital), and therefore willing to close and take profit when I'd otherwise hold it. Don't know why it took until now to realise this since I've been aware of it since I started trading. The idea of trading mechanically pushed it out of my mind, and when I started using more discretion it crept back in, resulting in the last trade i posted.

 

[Trembling Hand]

No much going on in here?

 

[Mr J]

Wasn't helping me. I can't afford to lose, so I was hesitating and became impressionable. Still trading, but keeping the blinders on for the moment. I'll probably start trading relatively aggressively soon, so I'll start posting then even if it's just to show off the sick equity curve .

 

[Trembling Hand]

 

[>Apocalypto<]

Great touch!