Hello Traders of all flavors!
This Trade was taken yesterday, with a margin of 1,0:3,3
I was expecting prices to drop to the bottom of the wedge. I traced the stop loss into "green-pips" territory, and was extremely disappointed when price hit my stop. only 4,35% profit? That's not very much...
I felt shitty about this trade, a lot of typical questions popped up in my head
"If I only didn't move my stop loss"
"If I just were more patient and didn't close so early"
"It's still falling, I could have got so much more"
These are all aspects of trading psychology.
Today when I woke up and saw that prices had reverted and actually went waaaay beyond my initial stop loss, I had a lot of other thoughts popping up:
"Thank god I took my profit when I could"
"Never will I doubt my methods again"
A trade I felt bad about turned into something I felt good and lucky about.
The lesson here is to always have a trading plan. The market is dynamic and will not consider you special, the market will crush you every chance it gets. Stick to your plan or ride the rollercoaster of emotions into an empty account
Thanks for reading! What's your worst memory of a trade that was caused by trading psychology?
BitBotlys Full Trading History
This Trade was taken yesterday, with a margin of 1,0:3,3
I was expecting prices to drop to the bottom of the wedge. I traced the stop loss into "green-pips" territory, and was extremely disappointed when price hit my stop. only 4,35% profit? That's not very much...
I felt shitty about this trade, a lot of typical questions popped up in my head
"If I only didn't move my stop loss"
"If I just were more patient and didn't close so early"
"It's still falling, I could have got so much more"
These are all aspects of trading psychology.
Today when I woke up and saw that prices had reverted and actually went waaaay beyond my initial stop loss, I had a lot of other thoughts popping up:
"Thank god I took my profit when I could"
"Never will I doubt my methods again"
A trade I felt bad about turned into something I felt good and lucky about.
The lesson here is to always have a trading plan. The market is dynamic and will not consider you special, the market will crush you every chance it gets. Stick to your plan or ride the rollercoaster of emotions into an empty account
Thanks for reading! What's your worst memory of a trade that was caused by trading psychology?
BitBotlys Full Trading History
