Uphill from here..

It’s been an uphill battle today but I’m soldiering on and keeping my course. Things started very pleasantly with a win on TUFXP but that was to be the highlight of my day as it deteriorated from there. Another two TUFXP trades, this time losing ones and a losing e-book trade. Now, without wishing to sound whiny and a baby, I did look at a H1 chart and realise that 1.6062 was a point of fair support where price action had promptly reversed off on several occasions over the last 24 hrs. Anyway, I enter a trade a 1.6072 and watch it zoom off 1.6062 right to my stop. I’ve had a few tricky setups of late right on key support/resistance levels but the bottom line is I’m still ahead so I’m sure things will even out eventually. I managed to rescue a few pips from the fire and I’m currently waiting on an afternoon trade that might trigger soon.

Whilst doing my usual reading of various blogs, I found an interesting little slice of advice. This is paraphased from the new blog Green All Over.

”If one believes that it is simply a matter of figuring out the odds, and exploiting the laws of probability, and that investing follows strikingly predictable patterns, then there is no point in being anything but calm. To get worked up over individual bets, is as unproductive as a casino manager worrying over the outcomes of individual pulls of the slot machines.”

How many times have you been guilty of getting hot under the collar and making a rash trade or bet when faced with adversity? I know I certainly have with trading and betting. Keeping your cool is of course easier said than done but once you’ve got on the right path, it certainly makes dealing with losses a whole heap easier and less painful.

I’ve added a TUFXP strategy page which shows what’s possible with the use of TUFXP. If you have TUFXP and you’re struggling, take a look and you might be pleasantly surprised.

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  1. Your blog has been added to my Blog Roll. By the way, Green All Over is hardly new – it’s coming up for 2 years old in March, so one of the older ones out there!

    Good luck!

    • Many thanks, good to see you’ve kept up the work to keep it running, most fall by the way side.

    • stripped1977
    • January 12th, 2010

    Hello Dubai trader, I have come across your blog on WordPress and I have added your link, Could you add mine if you don’t mind?

    http://stripped1977.wordpress.com/

    Many Thanks

    • stripped1977
    • January 13th, 2010

    Many Thanks for the link and I hope your blog is a continued success!!!

    Regards
    Stripped1977

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