I got hit so hard with emotions today. I had so great trade that I held deep in profit and it reversed on me 2 pips above my target which would be my +20 full size daily limit. I was lost at that moment, couldn't do anything but wait. I felt entitled to those profits and couldn't trade well any more. Reversal was quick and I tried to end all with another trade and quick test towards low. I didn't get it, I lost on both trades 20 full size pips. Later I was just lucky in my attempts to get me in black.
I guess that trading isn't about rules or knowledge, from one point it's just how much emotionally mature you are. Maybe money heightens all, because I don't think that I'm so immature, but maybe I am. First two trades were half size, others full size.
In the end +6 full size pips
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4 comments:
"I guess that trading isn't about rules or knowledge, from one point it's just how much emotionally mature you are."
Well, following the rules is a sign of maturity, especially if you created them. Nothing wrong with overriding them from time to time, if situation calls for it, but if the rules are broken often, perhaps new ones should be devised?
And , yes, amount of money on the line has effect on how we think and do things. No question about it.
Thanks Mike, trading is real test of character. It's litmus. Character flaws come out and became obstacles to success in trading. I've been talking to some friends today and apparently I'm emotionally immature person :)))
Hi fx,
Breakout trades don't always give the reward you expect .when i trade breakout i make sure that lot sizes and targets are smaller then the other trades.
Hi PRD, I like breakouts, too much of "easy" profit clouded my mind :D
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