Let’s face it, losing sucks, closing trades just see it going more and more upon our direction sucks, seeing a trade a few pips away from our target and then turn back to hit SL sucks too. But it is quite normal and accept that sh*t happens. We all are going to have losing and winning seasons but is the losing season we cannot stand and makes us change our plans and winning seasons are not solid gold it makes us to become overconfident and the rest is known story. A good help is to have a coach who can aid us completely unbiased, however most of us cannot afford one and a psychiatrist is too dam expensive and most likely the shrink does not have a clue of financial markets. ANother bad thing of having a coach is the fact that we will tend to doubt if this guy is a real trader, justified or not our doubt will have a very negative impact on us. So I proposse to coach ourselves, between us for free, just like those anonymus groups for adicts. We are adicts too and addictions are a desease normally caused by events and circumstances prior we dared to cross the line.
So I start. I am on a losing season, so i am on vacations for now. I didn’t exceeded the maximun quote of loss per week, except in three rare ocations but i’ll leave that for the end. ANd i said “ok i am still following my rules.” But i am losing just too much. Something is wrong but i was not aware that losing streak was taking it’s toll on me and finally i’ve ended outside of comfort zone and i’ve found myself chasing markets, like my plan was making me take bad trades and so i traded more than allowed. I turned the simple into something complicated, I was making a very sofisticated analisys when we only need to know if it goes up or it goes down. But i thought I was though enough to bear it. However there were external events deranging me with no control and i was not able to focus anymore. So I’ve decided to care of those events first and not even thinking into trading until i can be relaxed, next time i open MT4 if I cannot make a dessition i won’t trade. That is why i recommend the use of one method in one single pair because we will end up with too many contadictory ideas and we won’t be able to make a fast desition and at the end of the day we won’t know wich one was correct.
Remember all techniques we use to keep focus, to take a trade and so on only works when we can jump out from a plane with no initial fear but we can enjoy the jumping itself. When we cannot hear our body these techniques are useles, they become mind distractors and we must to go somewhere else, just like an addicted who had a relapse and has to call for patronage.
So now, i feel I little better telling my story to people who been or will be there. So guys what is your story. This is the FX junkie corner, shoot out whatever you have to say before you explode.