OK been meaning to post this since the day it happened,
but i was overwhelmed emotionally and didn’t really know what to write. Well one thing that life thought me is that time heals everything. So i wanted to take this opportunity and write up by BIG F@@K UP on this Thursday’s trading that i did. (pardon my French)
I have been posting pretty much all my trades so far and it seems like no one post’s bad trades or mistakes ect, well i must admit its very hard for me to come out and post this, especially it being so bad, but on Thursday i ended up losing little over 13% of my account due to my stupidity going, counter trended and not analysing the market as well as i should have.
Plus completely loosing control of my emotions and getting hit by that train every one talks about. Overtrading, revenge trading you name it :17: i don’t even know what happened to me, i lost complete control of my self!
The week started great for me i caught the large move that we had on Monday @ NYO risked 1% made 2%.
Everything was going fine, i planned the week ahead identified Key S/R levels 1.3120 and 1.3170 and decided that if price reaches them levels most likely it will bounce for 20 pips or so i set double tap orders around them levels risked 2% split in them in to half, first portion TP was set @20 pip profit second was going to be set to Be once price bounced at least 20 pips and let the reminder run.
The day started great everything was going well, but reflecting on all of this back i gambled that day with them 2 limit orders you may ask why, simply reflecting back on it. MS was bullish on daily so that run up was there to get in sync with HTF i was doing exactly opposite!"!!!. Later i learned that a key speech was being given by ECB Mario Dhragi and even though we are technical traders it’s best to avoid key speeches as he could say anything and this could end up adversely affecting the market. 3 Interest rate decision even though i think it’s unlikely they would change it’s paramount to watch out for for them.
So the market started to rally as Mario was giving his speech and we run up in to 1.3120 level true to my theory we got a 20 pip bounce as i anticipated! Did i lock the profit in! No i changed first part of the order and extend my TP tp 1.3080! :56:
Do you think that i moved my stop to BE? NO i did no such thing i extended it and though i will give the market room to breath, oh breath it did! only wiped me out in a process and stopped me out eventually at 1.3150 .Note that if i was to follow my original plan i would be up 1% instead i was minus 3%. It continued to rally did i remove my limit order @1.3170 you might ask? As realistically that’s what i should have done straight after that loss, but NO i watched that order get stopped out too again moving my stop even further in hopes that it will reverse! dam dam! so despaired and minus 6% i decided that i will make it ALL BACK oh yah wild west style!!!so i entered sell market for 3 lots Lucky lol put a SL @ 1.3202… after ALL HOW COULD I BE WRONG me NEVER!(sarcasm) :58: and Market took that as well bringing me to my knees.
Yah i was upset and overwhelmed and maybe cried a little and not ashamed to admit it, not because i lost my money, but because i lost my self that day!
So its not always rosy cosy!
I am happy to say that i am battling that emotion, but its like a parasite feeding on fear, greed excitement hope. Always there waiting.
Sorry for not posting earlier, after all i have been posting when thing’s are good, now they are bad.