Tuesday, 20 July 2010


I wasnt able to trade this afternoon, so as soon I got back in, I sat in front of my PC and got ready to trade the evening markets. I guess I wasnt prepared and in the right mindset, because after the first two markets where I had small losses, for some reason I wasnt able to accept a 3rd losing position in a row. I placed a trade which went against me, and then looked to leverage my price by putting in another trade. This is something I hardly ever do, if at all, so I really dont know why I started doing it now. The price moved further away so I tried to leverage the price again. The market didnt recover as I thought it might so I ended up with a pretty big loss, about 27 ticks.
I dont know what I was thinking , I am usually okay at accepting losses. it didnt affect me too much, I knew it was a really stupid mistake, and kew the feelings and actions that had caused it. I traded some more of the evening races before I had to go out again, and made most of the loss back.
It made me laugh to look back and see that if I had just taken the smallish loss on the first losing position, I would have been in profit for the evening. I guess even with all the practice, all the knowledge of emotions and how they affect you, I am still going to make stupid mistakes like this now and again.

1 comment:

  1. An easy mistake to make... as you said the emotion got you there, have you tried talking throught your thoughts and what your doing as you trade? as if you was explaining to someone else why your doing what you are, its good as its hard to ignore a mistake as much if your saying.... 'ok the market has gone against me, im thinking about getting out' Just another stimulus to prevent the mistakes