.......at 3.14pm my third and last trade for the day ended with my take profit limit exiting the trade for me at 1.6071 for +50 pips. I wasn’t watching the market during this whole period and thankfully was able to get some other work done today, but boy did I feel like shit. Logging back in every so often hoping to see the Cable moving down further from the last time I checked, moving my stop loss and take profit all over the place – look at the charts, at one point in this trade I was down around -30 pips! I was telling myself at various points during the 5 hour 29 minute duration of that last trade to write today off and start again fresh tomorrow. I was going through fucking hell and clearly on a totally different fucking planet to that of normal people!
Apologies for my language also taking a turn for the worse today – hope you can understand.
Finishing for a profit today is nothing at all for me to be proud of. I was extremely lucky to finish today on a positive note. You can probably imagine how I was feeling after my second trade today. Can you imagine how I would have felt, if I was trading at £50 per pip, which is what I am meant to be doing with my current level of capital which stands at £16,850. By the way, I did start at £20,000 and was trading at £50 per pip and – I think you get the picture as to what happened.
Perhaps my entry in the blog prior to trading today was the wrong thing to do. Perhaps I should have just waited as I am supposed to when announcements are being made instead of trading in the middle of them. Perhaps I should just pull my fucking finger out!
I am someone who believes in rewards for doing well. What do you do when you have not done well? That’s an understatement, what do you do when you have completely fucked up? Is a punishment called for? Well – as a form of punishment, I’m going to reduce my pip value from £1.00 to £0.50 per pip and will only go back to £1.00 and the doubling of this etc, etc. if I make it through a full week of feeling good after every single trade – at this rate, I will be going back to demo trading instead of moving up towards my £50 per pip trading!
Ok, let me try and be constructive about today. What lessons have I learnt today? Be disciplined around announcements, don’t trade for at least 15 minutes before and 15 minutes after an announcement! If I suffer an unexpected loss, switch off for the day – don’t attempt to immediately enter another trade or trades to recover that loss! Of course, the term unexpected loss does not describe my type of losses today where I’m simply breaking every fucking rule in the book, but refer to sudden large movements of the candle in the opposite direction of a trade that you are in. Also, don’t mess around with the stop loss or take profit limits!
Just trade within the fucking rules! Simple!
I have made the decision to not trade until Monday next week and put this unbelievable behaviour of mine and the events that occurred today, behind me again.
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