After one small trade that spiked back up just when I was taking profit so it cut it in half I had another short. Gbp/usd was in the range which can be good and bad. So I stayed most of the time in small loss. I re shorted an market came down to my break even point. Than I had idea that I'm ashamed to confess that it occurred now after so many trades and not before. Why I don't take the profit from that second trade. In that way I would buy little insurance, lighten up on position and easily ride it on. Before I would just add, average up 2, 3, 4 times. Emotions would take over and it's way to disaster. All that just because of greed. If my idea is correct I would gain massively on that big position. I never do. So this way with taking profit I can still stay with my idea and first position and it would be big profit if I'm correct and that one position. Why would I need 2, 3, 4 positions one is enough. Well that simple thing I realized just now, all because of greed.
So when I had second chance to take down second position with around 10 pips of profit I took it.
I stayed 7 more minutes in first trade but when it started to come back I changed my mind. There was another news at 12:00 so I figured that market will wait in that range. At this point I was at +6 pips.
Later I got totally emotional overwhelmed and started to average down in gbp/usd again. I was at one point more than 50 pips combined in the loss. I got out at some point. Than I was about 20 pips in the loss, so I started scalping gbp/chf to cut down the loss, never mind the risk in that state of mind. And finally I'm at -1 pips for the day. I was playing old tune let's put gbp/usd at rational level because it's now irrational. Everything was falling slowly against the dollar but pound that was in crazy rally against it all.
In the end I had need to get to break even at all cost. It's text book psychology degree case of emotion driven trading
This is me, I expect this from time to time. I don't get all that exciting any more about this bad behavior. The important thing is that there is good trading the majority of the time. I can't run or hide from me. I got the accept this occurring.
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