Wednesday, May 26, 2010

Recklessness and arrogance

I don't feel anger or anything just pretty much numb right now. I had positive scalp and open profit on another position in gbp/usd which I let to go in a loss. I averaged, got b/e, didn't take it but let all go in a loss. Then of course I averaged again with double size with such arrogant belief how there will be retracement. That cost me 130 pips. After that I lost 70 pips more in next sequence.
I changed pair and direction and cut my loss to -45 pips trading eur/jpy with double size.

It's such a pity that I wreck month worth of profits in few minutes because I act arrogant when I know better. That is so ugly. But if I have that in me it will come out sooner or later. You can't hide anything in market and pretend that you have only virtues. Vices are there also.

In reality I can be happy that in the end I lost only this week's profits. This job simply doesn't allow trading mentally unprepared.

-45 pips

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