8/17/2010

Another series of losses after good times...

As everybody who trades 1 minute daily probably sees, we are having some hard time again unfortunately. Even I got a little dissapointed because every time I reach top of my account there comes a hard strike in several bad trades. It started with Friday's UJ, there were two losses which stroke my account hard time...  BUT! We all, who want to make profit in the long run know, that this is just a short period of time that tries to persuade us to quit!:) But we will not stop trading this wonderful system because it works!:) The only thing that makes me angry is that I said I will lower my risk as soon as I get to 3k... well, I will have to wait a bit I guess:) Hold on, guys, don't worry about the losses!
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13 comments:

  1. DaveAugust 17, 2010 at 2:39 PM

    Hi Tomas,

    I share your disapointment. I'm only risking 3% but a bad week still sets me back. August is a tricky month to trade at the best of times, and I will be happy to come out level.
    Keep banging in those orders....

    Dave

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  2. scottAugust 17, 2010 at 3:56 PM

    I started trading 1MD about a week or so ago and have been churning a bit, but down overall. But like you, I am convinced of the long term profitability and I know that any strategy is going to have ups and downs. Right now I'm only trading at 1% risk per trade, but I'm also trading a considerably larger account. I look to increase my risk per trade to 2% once I build up some profits from 1MD and I feel were in a good trending period. I really appreciate your blog as it helps me confirm that the trades I'm taking are going according to the system and as always, misery loves a little company during these difficult periods.

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  3. AnonymousAugust 17, 2010 at 9:23 PM

    Hi Tomas
    You are so right in what you are saying,

    "But we will not stop trading this wonderful system because it works!:)"

    1 winner today on the GPB/ USD and up on the USD/ JPY must have added some profit to your account?? Sadly I messed up my orders today but feel good about these winners for everybody else.

    Phil

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  4. SlurpeeAugust 18, 2010 at 1:21 AM

    Hi Dave!

    well said... Thanks for posting here!

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  5. SlurpeeAugust 18, 2010 at 1:22 AM

    Hi Scott,

    I am glad you are aroud... we can exchange ideas after we gain some experince with this system:) Keep coming back!

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  6. SlurpeeAugust 18, 2010 at 1:29 AM

    Hi Phil!

    well, you messed up your orders and I moved my TP on GU too far and it didn't get hit by 2 pips (spred:(((). Hopefully it will go down some more. It is that my improvements don't work every time:) So no winner for me yet. But I moved my SL on this one to BE+2, I cannot let this one be a loser. I am sure things will change again...

    I hope you do better today!:)

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  7. SlurpeeAugust 18, 2010 at 9:21 AM

    Well, my moved TP on GU got hit as well as contrary trade that was open on GU. Overall I made a few bucks. On UJ, there were also two trades open against each other. When I woke up this morning, both were in positive numbers, so I closed them both. I know it is against the rules, but this could only lead to one loss and one win and I prefer two small wins... I will not trade until the next week, I don't like the market now so I will stay aside.

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  8. AnonymousAugust 19, 2010 at 1:31 AM

    Hi Slurpee,

    I said it before and I'll say it again, keep up the great work it's Inspirational, and as you said it's all about discipline, the biggest hurdle to overcome in this forex business is yourself, 1 minute daily obviously works, you just need to treat it as a business as you are and keep on doing what your doing..

    Brettski

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  9. SlurpeeAugust 19, 2010 at 9:17 AM

    Hi Brettski,

    thank you for such nice comment! It helps me keep going as well, it is always better to have more people around with the same goal because they can keep you on the track to your goal. I am glad that this blog somewhat connects us that trade this system...
    I hope you guys get some winners today and tommorow, I will be away and back on Sunday evening. Take care!

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  10. AnonymousAugust 26, 2010 at 12:26 PM

    Hi Tomas,
    when you say you risk 10 per cent. is it per trade or per day?
    you started with 200 dollars. you would risk 20 dollars on gbp/usd trade and 20 dollars on usd/jpy the same day?

    tonny

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  11. SlurpeeAugust 26, 2010 at 4:10 PM

    Hi Tonny,

    I risk 10% per trade, it means 10% on both sides of GU and both sides of UJ. So yes, the worst scenario that could happen would be 40% loss in one day. That is why I don't recommend to do the same to anybody. I will lower my risk pretty soon... As soon as I reach 3k.

    Take care

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  12. AnonymousAugust 26, 2010 at 11:34 PM

    woooooooooooow! 40 per cent! thats hard to stomach, lol!

    tonny

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  13. SlurpeeAugust 29, 2010 at 5:38 PM

    Hi Tonny,

    that is for sure too much, but if you studied the manul though you know, that this scenario is VERY unprobable, because 2 losses on one pair in one day come like 2-3 times a month, sometimes less... And the probability this happening on both pairs is veeeery little:)

    ReplyDelete

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