Feb 2, 2017 – Dis is Booshit

Told you I’d bring you s’more booshit.  This is the evil midget that likes to mess with me in full effect.  Barely missing targets, stops tapped and reversing… you name it, he is out for me today.

Look at this.  Entry.  Nice movement down.  Misses target by .2 pips.  Not 2 pips. 0.2 f’n pips.  Reverses and stops me out.  Greeeaaaaat.

02-02-2017-usdjpym1-wtf

I even set a reasonable target and eventually tightened up my stop.  So I took a -2 pip or so loss on this one.

Hold on though, it gets better.  So on my next trade I told myself I would limit in the top of the consolidation as to get a better price and not have the evil midget stop tap me or if he did that it would at least be a good stop and just blast off in the other direction.  I thought I would be one step ahead of the guy.

02-02-2017-usdjpym1-fml

Nope, the midget told me to grab my ankles and get ready.  Here I was thinking by limiting in the top here I was being clever and you can see with the dotted line where I got stopped out.  Literally to the decimal of a pip, it stopped me out, and reversed into my target.  F YOU EVIL MIDGET.  Couldn’t outsmart him here.  So I called it a day after this one.  I was in no mental shape to continue or I would just be revenge trading. -6 pips, -2 pips earlier for -8 pips total so far.

So, took a break, had some dinner and opened up again during the overlap session.

Next entry I asked myself, “where would I usually enter, but get stop tapped by this evil midget?”  So instead of taking the first entry that I normally would, I stayed patient.

02-02-2017-eurusdm1-overlap

You can see by the white check box where I would’ve normally looked to get in first time.  I stayed patient and let it pass and on the next pullback it began to consolidate sideways.  So I limited in again here near the bottom of the sideways movement, false move down and shot up to my target in 2 minutes.  Gotcha, ya little evil bastard. +9 pips.  Just like that I’m back in the green +1 pip.

With my confidence back I decided to get into one more trade.  We had strong momentum downward and a pullback.  I didn’t get in the first attempt to go back down but waited again.  Saw upward momentum stalling and entered a market order on a strong move down.

02-02-2017-eurusdm1-overlap-2

I had the evil midget’s number, but he still got me back in a way.  After the strong move down, it barely, just barely missed my target again.  I’m talking less than a pip.  What the shit, right?  Again?  So remembering the first trade of the day go against me all the way for a loss, I just hit “close all” button and exited with +5.3 pips.  Didn’t want that evil midget getting in the last laugh of the day.

So ended up the day a little over +6 pips.  Good day to learn.  I’m glad I called it quits after sensing my frustration and being able to get back on it.

Another big lesson I learned is to not always enter on the first chance.  Most days will have complex pullbacks or the market will be there to hunt your stops.  Of course I don’t believe there is some evil midget or some person stop hunting.  But the smart money knows where people have their stops.  They know where they can get pockets of liquidity to take prices to where they want.  I’ll be keeping a closer eye out now.

You have to admit, it is fun to picture a little evil Santa’s helper looking dwarf stop hunting people though.  Bet he’s a blast to get drunk with.

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