Open trading account 
So, a new month has started and like a good champ I'm
, I start to make plans and tell myself I'm going to take only the setups that fits my criteria. So far so good until I see a trade on GBP/AUD (see Figure 1)and I see a nice short opportunity, everything was pointing for a down move and I decide to short it.
What do you thing happens the first moment after my order got triggered? Yes you're right the market starts moving against me. But it's not moving slow and steady but instead it's posting 5 minute green candle after 5 minute green candle without taking a breath-----> Really WTF !!!!
At that moment my first thought crossing my mind was that this f**** will move all the way up just to trigger a margin call and than collapse in the direction I first predicted. I have to mention that I also had a short on EUR/AUD as well as I though they are both going to move to the downside.
All my fear has come to light and the market has been stretching to the upside just to get me out, tick by tick!!!!!.............and BOOOM Margin call in less than 1h of trading. But things are not stopping here as soon as I get a margin call the market starts reversing to the downside at the exact tick after I got stopped out, really now: WTF!!!! it's like the market knew all the time where my order was, but does she knew I was playing with virtual money LOL?
After I got the Margin Call, I was rethinking the whole trade and I realized that you can have the best trading idea in the world if your timing is wrong you're F**** UP, in trading timing is everything. So, last thing I wanted to do is to capitulate, and decide to go short one more time as now the probabilities for the pair to go down where even higher as I was also expecting the UK PMI figures to come worse than expected and this should be the catalyst for it to go down.
In the end I was proven right, however after losing half of my account, as at one moment in time I was down to 50k, I manged to bring back my account near the 90k figure, but i screwed up my Order Quality points which will make it even harder to get in top 10 rank.
Instead of having my account balance at around 200k here I'm with just 90k left in my account, which is a pity as I really could have done quite a good job during this month if things where working as per my plan.
Rant Over! Maybe next week will be better.
Best Regards,
Daytrader21
, I start to make plans and tell myself I'm going to take only the setups that fits my criteria. So far so good until I see a trade on GBP/AUD (see Figure 1)and I see a nice short opportunity, everything was pointing for a down move and I decide to short it. What do you thing happens the first moment after my order got triggered? Yes you're right the market starts moving against me
. But it's not moving slow and steady but instead it's posting 5 minute green candle after 5 minute green candle without taking a breath-----> Really WTF !!!!At that moment my first thought crossing my mind was that this f**** will move all the way up just to trigger a margin call and than collapse in the direction I first predicted. I have to mention that I also had a short on EUR/AUD as well as I though they are both going to move to the downside.
Figure 1. GBP/AUD 15 Minutes Chart
All my fear has come to light and the market has been stretching to the upside just to get me out, tick by tick!!!!!.............and BOOOM Margin call in less than 1h of trading. But things are not stopping here as soon as I get a margin call the market starts reversing to the downside at the exact tick after I got stopped out, really now: WTF!!!! it's like the market knew all the time where my order was, but does she knew I was playing with virtual money LOL?
After I got the Margin Call, I was rethinking the whole trade and I realized that you can have the best trading idea in the world if your timing is wrong you're F**** UP, in trading timing is everything. So, last thing I wanted to do is to capitulate, and decide to go short one more time as now the probabilities for the pair to go down where even higher as I was also expecting the UK PMI figures to come worse than expected and this should be the catalyst for it to go down.
In the end I was proven right, however after losing half of my account, as at one moment in time I was down to 50k, I manged to bring back my account near the 90k figure, but i screwed up my Order Quality points which will make it even harder to get in top 10 rank.
Instead of having my account balance at around 200k here I'm with just 90k left in my account, which is a pity as I really could have done quite a good job during this month if things where working as per my plan.
Rant Over!
Maybe next week will be better.Best Regards,
Daytrader21
