Reoccurring Theme

It seems as if there is something happening that I cannot identify in my trading. Today, I made a few quick small losing trades to start, but managed to make it all back with one decent winner. I then had one more winner and I was on my way to having a very small winning day. However, I lost and lost and lost and lost, and before long I was having a bad day. In fact, I was almost at my limit again for the day.

In regards to yesterday, I figured out what set me off on my downward spiral. I was having a good day when I clicked on a headline that I thought should have been a winner. However, I was putting too much emphasis on this one tiny headline and took a small loser. I then tried to chase that loss and made some very careless trades that were all losers.

Today, I didn't make a big mistake. I just wasn't seeing it all that well. Maybe I got a little fast, maybe I didnt take a break after 3 losers in a row, and maybe I made too many trades with no setups.

I do know I was early on one spot selling the euro. But that trade alerted me and I was able to wait a make a very good second trade.

In oil I started off buying it because heating oil and gasoline were so strong. However, I was losing every time I bought it. I started making money selling it and felt like we might trend down all day. My spots were pretty terrible today. I sold it numerous times and took many small losers. Maybe I am picking bad spots, and maybe I keeping too tight of stops. I dont know. It is something I need to think of an keep track of.

Bottom line, I managed to have an ok day, but not without some stumbling along the way.

Finally, I re-learned one lesson again that has cost me big time throughout my career. I listened to someone else's idea and just executed the trade based on what that person said. I didnt know where I was right or wrong, and I ended up taking the biggest loser of my day. In fact, I almost gave back half my day on it.

Still have a long way to go and lot more to work on.