I shorted this at 9:30 (8:30 CET), before the break out (1rst mistake). The break didn't happen and CCI started to show a possible reverse. Price made a TL break on the opposite direction indeed and started climbing. I didn't close at -5 or -10p, because I could not accept that I was wrong going short. The TL break (in the circle) was THE point to close. I let it go, praying for a new drop and finally I killed it at -32!... (and heart pace 190...).I am not only losing money by doing stupid things, I also lose my confidence, a sure way to make a bigger mistake next time. This is how my trading deteriorated in the last 10 days.
I recovered later 21 pips of the 32 lost (see chart). But my confidence didn't recover.
++9_10_2012.png)
1 comment:
If we don’t learn to accept mistakes then we are unlikely to improve, so the first thing as part of becoming successful trader is to learn to be accepting mistakes, if we do this than I am sure we will be able to succeed. I always accept my mistakes and thanks to OctaFX broker, I have enough chance to correct them with their rebate program where I am able to earn 15 dollars profits per lot size trade even with losing trades too.
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