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Evaluation On My Bad Trading Streak

The last week has been another challenging moment for me, where I had encountered multiple setbacks in my trading. And yes, it was a challenging moment for me throughout the week, and in addition, it felt even worse when I knew I was making such lousy calls on the market. This experience has indeed humbled me a great deal, and I do hope I could share some experience of this short evaluation that I had done up over the weekend:
  1. Allow the market to show its hand,  especially when it trade sideways.
  2. Look out for the more liquid markets, as their volumes remains fairly thick even though volatility remains high. (e.g Eur/Usd)
  3. See not trading as making money, instead of seeing it as 'not making money being the same as losing money', where to wait is not a waste of time.
  4. Leverage should be greatly reduced, and stops should be widened to allow you a chance to allow your trade to work out. And that will greatly help the trader psychologically.
  5. Stops must be used. In such volatile markets, there is nothing like denial (my GBP/JPY long). Admit that the trend has changed and continue with your next view. In addition, I have exited my GBP/JPY trade at 185.86. It has been painful, but I saw the rewards right after that. 
The above should suffice for the moment, and I am glad I have improved further on my trading by blogging. Over the next few days, I will be continuing to post my trades on the blog again. And for the moment, I am now left with no single opened position in the market, and all old positions have been closed.

Cheers.  

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