Wednesday, June 22, 2011

Ignoring a problem doesn't solve it

Just face it, and watch the market behave, and accept that I am wrong, and take total responsibilities.

Sometimes we saw an opportunity, we enter, be it 1 mini or 1 standard lot, the market will continue to trade in the opposite direction, we will first have to allocate margin $$ to trade, pay for the spread $$, sometimes market may continue to trade in the direct opposite, before going to the favorable direction, up or down.

Why should the market immediately turn when you enter?
Why should the market trading in straight line?

It is variable, interesting, full of mystery, and that's why it keeps amusing us..

Instead of ignoring the trade, I watch, and watching it until my stop loss were triggered.
I questioned myself, and assure myself that, yes, this is the loss / risk that i am willing to bear / exchange for the potential profit.

GBP/USD triggered stop:
Long 1: GBP/USD 1.6133, SL 1.6190 (+57 pips).
Long 2: GBP/USD 1.6186, SL 1.6190 (+4 pips).

Nasdaq 100 triggered stop:
Short: 2213 SL 2223 (-10 pts).

DJIA triggered stop:
Short: 12146 SL 12176 (-30 pts).

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