Friday, April 17, 2009

FTSE (ZM9)- 08:14ET- Emotional Trading.

Same problems that've plagued me before...keep reminding myself not to trade my woulda-shoulda-coulda account (or even the real account) and just stick to objectively trading what's in front of me, regardless of where I am for the day/week/month etc....they're nothing but arbitrary periods of time conceived by us to try to maintain some sense of control anyway...

First time trading this intrument didn't affect my performance. What did was yesterday's trade. Late entry by four ticks (fear of taking another loss so soon after the others...) swung the trade around and had me trailing my stop to try to protect myself. The result was a flat or another commissions loss (after 3 ticks of slippage) I got stopped by 2 ticks before price turned around and dropped off some 16 points (32 ticks) before consolidating and continuing to drop off later.

Account preservation is good but I need to loosen my grip (i.e trade a plan rather than my emotions) to move forwards and begin profiting again.

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