One gigantic fuck up!

I started very late today at 11.26am and finished at 12.07pm for -1 pip off 3 buy trades. I had such a shitty night last night wondering about various shit and got up this morning feeling like shit. A prime example of a day where Sid used to say don’t trade. But I did! Breaking the rules again.

During the session today, well, at least before I got into the second trade of today, I was conscious of everything I had said to myself in yesterdays blog entry – waiting for those perfect entry points until it’s second nature and what not. However, I only managed to do that in my first trade and jut about, in the third trade today.

But my second trade was a gigantic fuck up. I will try and explain now what happened so that perhaps I could actually get a further fucking understanding as to why I behaved the way I did.

I waited patiently after sitting down to trade, watching a large red candle on the Swissy, a large green candle on the Euro but a relatively small green candle on the Cable. The currencies hovered around 1 or 2 pips either side of the starting white datum line I had inserted in each of the charts until around 11.44am when the Swissy started to move down with quite a bit of momentum. But the Euro and the Cable were static to begin with, so I waited for a few seconds, which in this game always feels like an eternity and then the Euro and the Cable began their upward movement with momentum, so I jumped in and managed to GOWID to secure +2 pips.

Not even a minute went by, when the Cable & the Euro suddenly jerked up further through 10 to 20 pips, within a couple of seconds and I jumped in, but it turned out to be at the end of its move, and within a few seconds, it reversed and I was at a loss of around -5 pips. I didn’t GOWID however – the old bastard of a habit of waiting and hoping for a turnaround kicked in instead – I stayed in the trade for 17 minutes – at one point – I was -14 pips down and I still stayed in. I was so damn lucky that this trade eventually reversed it direction back up again to allow me to GTFO for -6 pips. Completely the wrong way to execute a trade. I was kicking myself to no end during the trade but still didn’t GOWID for 17 minutes. I went through the usual motions – if I get out now I will wipe out all the pips I have this week etc, etc. What a fuck up! Just when there was a small part of me thinking that I was slowly getting back on the right path. After this trade, I might as well have been taken out by a stop loss. That’s right, I should think of this trade as a -23 pip trade, which is what being taken out by the stop loss would have produced. So really speaking I finished today for an overall -18 pips if you take into account the results of trade 3.

I also know for a fact, that the reason I continued with the session after the second trade, is because I was revenge trading another fucking rule breaker. Thankfully, the last buy trade wasn’t a total disaster. The duration was around three times as long as it should have been, it lasted 30 seconds, but the trade never went more negative than the spread from the point of getting in and then eventually went positive to produce +3 pips.

So after reviewing my efforts again today, only one trade out of three was executed as it should have been. The rest was a waste of fucking time.