Tuesday, July 14, 2009

Tuesday 14 July, bad discipline day

Cable long 1.6260, stop 1.6245 DIB's (1/2 posn)
AUDUSD long 78.60, stop 78.40 DIB's
GBPJPY long 151.75, stop 151.40, break of resistance (1/2 posn)
Stopped out of all trades (-2.0%) , These early morning spikes are crap.

Cable short 1.6305, stop 1.6320
GBPJPY short 151.77, stop 152.02
Out of these breakeven, not in the mood for more losses.

AUDUSD long, 0.7903, stop 79.53.
Stopped this BE and going to wait for better entry.
Not interested in a third loss today ...

Short crude 61.25, stop 61.50
Banked half of crude @3xR 60.50 (+1.5%)

I'm stopping for the day. I broke some rules getting out at breakeven. I will let crude do its thing ...

Open Positions:
Crude short ½ posn 68.90
Crude short ½ posn 61.25

Total for day -0.5%

Rules ...
I stop trading if I get three losses in a row or go 3% down, it's a rule I have never broken. Today I started to stop trades at breakeven to avoid getting to three losses in a row. And so I broke the rule about not stopping out at BE. Breaking one to avoid breaking another isn't the way I want to go. These rules are what will get me through the bad times.
Clean slate tomorrow.

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