The rule breaker strikes back!

If you think I’m laughing, I’m not. Far from it in fact. I had an early start today at 6.40am and finished at 8.09am for a glorious -28 pips off 2 sell trades.

Mentally, I got myself on a back foot after I fucked up on the first trades and never really recovered from it. The annoying thing is that, the first trade would have been a perfectly acceptable 0 pip trade if I had exercised GOWID when I first told myself to as this trade cleared the spread almost instantly after I entered the trade to breakeven. Instead, I sat on that hopeful perch and waited for it to produce a profit – it never came.

After that point, as much as I waited 45 minutes telling myself, “you fucked up, but it’s ok, now take your time now, be patient, there’s no need to rush and try and recover those lost pips”, I did exactly the opposite and even repeated one of my old bad habits in the second trade, GOWID was not exercised at all and I allowed the stop loss to take me out of the trade.

That was me done for the day – clearly!

The one redeeming factor in all of this is that I have not been messing around with pip values. I did increase it to 10p per pip prior to the Monday session, but after the Monday session, reverted back to 5p per pip which is where it has been since.

So the ill feeling is back with me this week and I now have to be extra careful not to compound that effect over the next two days.