Friday, December 5, 2008

Have you ever done good but wish you did better?

I can't complain about this setup, but I'm going to. The EA had placed a trade and sent me a text message to my phone. After a few hours it had set the take-profit, then the price went way against me. This was my opportunity to buy more. Remember I said before, when the EA sets a take-profit, it is correct about 85% of the time.

Anyway, when it got near bedtime I checked the trades and one was in profit but the other was losing. I could have just let the EA do its thing and left it alone. Instead I rationalized that tomorrow is friday (a short trading day) and I didn't want to leave any trades open when trading halted on friday. So I closed all trades for a net gain of 94 pips...


Not bad, right? I should have been ecstatic! But instead, when I woke up in the morning I discovered that my take-profit was indeed reached. If I had just left the EA alone, the net gain would have been 208 pips!

Of course there are worse things to complain about, but I think I'm just trying to make a point here. Whether you win big or win little, you have *WON*. Complaining about winning is just wrong. I made out like a fat rat and I'm complaining because I could have gotten fatter?

3 comments:

Unknown said...

Interesting. Thanks for the post!

Jeffrey_geng said...

Even loss~you always win more than loss~
PS.
If you adjust the EA on down trends do not open buy lots(just follow the main trends)It will safe than before?Right?
Anyway~you can test different strategy type on computer in same time.
While you can edit an EA based on my indicator in 1H graph~


Another question~
Whether EA trade based on graph analysis?

Tony said...

The EA uses 2 moving averages and the last completed bar to decide how and when to place a trade. That information will be available in my book when it comes out.