so i ended july with +1.59% profit. Am i happy? absolutely not. I think i have left a lot on the table. Profit or not, does not make me delighted these days. what makes me happy if i’m following my process 100%. I couldn’t follow my process last month, mainly due to fear, speculation and others. I’m really strong with my journal, i have detailed journal of what i do during my trading hour. so here are something that i have spotted.
i’m punching out early from the market.
since i trade NY session , especially the time when it overlaps with London. But i’m calling the day early therefore missing out the main action. It seems i’m happy to bank few early pips and closing down my trades even before NY opens. however, i tend to stay in the market if i’m losing and trying to come to break-even. Which is good anyway, Before i would never try to make it up even if i’m losing for the day. That is an improvement from my side. But now i need to graduate to the next level and suck out as much money as i can from the market.
Noticed big moves but didn’t pounce on it.
Last week of July, we finally saw some big moves from GBP and Yen. I Saw the move but again took early little profit and bailed out. I could have made a lot had i stayed with my trade.
How long i would trade for the day depends on price action, not by hours. There was no indication of price reverse and it was going my way. And yet, i would close down the trades. really need to work on my mindset here.
i should act according to the market and earn big wins.
i have already bagged few pips in my account for the month but i was too focused on saving those instead of making more pips . I did not take action when the market offered me money with open hand but i just denied in fear of losing what i have. Not a good approached least to say.
Speculation, acting what i think.
Big part of my strategy is to play according to market. I don’t suppose to speculate. I shouldn’t act on what i think is right. I should play what the market is offering me. Last week of July, market was moving and i should have stuck to my trades (given there was no reversal), instead i ran out to hide myself in the hole in fear of losing my pips. Amazing !
Things have to change from my end. I need to fix my mindset. I should not have fear of losing . In order to win BIG, i have to give a small loses away.
Shifting my psychology is key here.
Disappointing Month of July but atleast i should cherish the small win.
Let see how August goes….