Afternoon folks.
Bad news today I’m afraid.
Everything started well. I didn’t rush into anything and watched the market patiently for 30 minutes before entering my first trade which yielded -5 pips. What happened you ask? Well, I can only put it down to the sheer boredom and I got so excited at the first sign of some movement, I jumped in, instead of watching for confirmation of the criteria I needed before entering the trade. So I suffered the consequences and end up with my first trade being a negative, a big negative at that.
It doesn’t end there. The need to recover this loss was so great, I jumped in again shortly after, but this time somewhat more controlled in limiting my losses to exit a sell trade for -2 pips. Thats not so bad you say – read on, I might change your mind.
5 minutes later, I’m in and out of another sell trade for 0 pips – that felt better, rules followed nothing gained, nothing lost.
This should now be me done for the day, one of the rules, no more than 3 trades per day.
But no........1 minute after the last trade, the rules that I need to follow are out of the window completely, I went into gambling mode. You will cringe now – its 9.57am, 3 minutes away from the start of the 10am candle – I ask myself (this is the gambler now, if you haven’t noticed), which way will the candle move from 10am, up or down? I settle for down and enter a sell trade. Now at this point, there’s no criteria present for entering a trade, this is me being a complete and utter d**k – 10am comes around, the candle flutters, and then moves up a couple of pips, then up a further few pips and before I know it, I’m still in the trade and now 10 pips down. But guess what? The trade is definitely going to come back right? Wrong! I’m now 15 pips down – still in the trade though, its gonna come back, its gonna come back – nope, -20 pips down now and a couple of pips away from my stop loss kicking in. But what could be better now than moving the stop loss further away cos this trade is definitely gonna come back, I move the stop loss further away. Thankfully (stop rolling around the floor laughing), I decide with the great wisdom that I have, to exit the trade and solidify the loss at -21 pips.
All hope is lost – I am now gambling, it as simple as that. I enter & exit another trade, a buy trade for -7 pips. I was in the trade for too long, there was no criteria when I entered the trade, nothing!
Now, you must be thinking, this must be the end, I must have shut down for the day after that last trade. Well, of course you thought wrong. I did worse. I decide, tapping into that great wisdom of mine, that I can reverse all my losses today by simply increasing my pip value from £1 to £42 per pip and executing a +1 pip trade – clever eh? I certainly thought so – I am a gambler, am I not? So thats exactly what I do, pip value increased to £42. But, I am now quite scared that I could end up with another big negative and instead of being down £35 in total at this point, any negative trade from now on, will result in multiples of £42 per pip down. But hey, I know what I’m doing, I see some movement for a buy trade and jump in, it goes positive straight away by 3 pips (remember, this is now £42 per pip) and I click on the close trade button – but I was too late, the trade had reversed but thankfully, I’m out for 0 pips.
Theres now no doubt, I must have closed down the platform right? No, let stay a while longer I say – I can still get a +1 pip trade today – it will happen I say. The good news is that I watched for a further 25 minutes and decided to call it a day without entering any further trades – the platform is finally closed.
-35 pips for the day, not bad trading at all! Maybe I will have another good day like this on Monday! Perhaps I could top the number of rules I broke today?
Is there any hope for me at all?
Have a great weekend guys!
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