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my mind is melting

UserPost

8:09 pm
April 20, 2012


raji kodja

Singapore

Member

posts 4

Thought I would share what happened inside my head this Friday.

As we all know the Euro was at resistance at NY open and I was looking 

to short it. It is very important that I have profitable weeks, not because I am using the money for anything but because it confirms that I am progressing in my learning and making progress toward my goals.

 

Euro gave me a lower high and I took a short entry. Shot down 30 pips and I had a choice to break even or not. I've had issues moving my stops to break even too early so I left it. Sure enough price turns around and stopped my out for a loss.

I just went through the exact thing the day before so I was upset. "I'm not going to get this!" 

 

When I move my stop break even I get knocked out and price goes on to make pips. When I don't protect break even price does a full reversal and I watch minimum acceptable profit slip though my fingers.

 

So price continued up to my next resistance zone and I leveraged up and shorted again. Price moved against me and I couldn't accept the loss and kept sliding my stop higher and higher. I then jumped into another pair and leveraged up, price did the same thing. I slid that stop too. So I'm in two over leveraged shorts with large stops.

 

Obviously this has to be worked out before I move on.

1.) Sooner or later I have epic losses.

2.) revenge trading

3.) need to be right.

4.) When I'm in a trade or have a bias I'm not seeing

the obvious signals that price is telling me, or rather I'm

ignoring them. (cause I need to be right damn it!)

 

Thanks for letting me share.

Enjoy your weekend everyone 🙂

 

Raji

3:36 pm
April 25, 2012


Kestas Fx

Lithuania

Member

posts 16

You are not alone Raji.

I have similar issue. Seems like I'm stuck in Break Even land for ages, it's really very hard to handle this stage mentally. Time for time I catch myself forcing all the things to get through, and ending with over trading and losses.

Also I know on which things I need to work on to fix it. Of course it’s easier said than done, but I had enough I’m taking this stuff very serious.

 

When you don't give up, YOU CANNOT FAIL! Wink

Kestas Fx – Let's get serious about "this stuff".


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