who cares, apply the plan, and take your goal.
went long 4 % at 1.3325 the worst possible price, and got stopped out under 1.3317
went short 4% at 1.3319 with a 1.3324 ridiculous stop. NON SENSE got stopped out,
and then long again for 4% at 1.3323 closed right under 1.3309.
In a matter of a few hours, I had sabotaged a neutral day, and created a -12% hole in my account.
I must add that I was lucky enough to have reduced leverage by half last week.... What a mess.
But this was bound to happen. I have been respecting the plan daily and have a winning rate over 80% of the time...
But this here was a complete disaster. This must be a lesson. I must make sure it will not happen again. How can I never do this again.
Up till then, we can say anticipating scenario B off the news was a Ok idea, but doing what I did here,....is only proof that I am not ready to increase my accounts size.
Work on this. Fix this issue. What ever it takes.
I positioned my straddle under the s-line that was never given to us. With a small gain that covered the spread. Good.
Then as scenario A triggered, I had placed my short target, but deeply inside was more concerned about the 1.3332 break down,
on a daily and weekly chart. This said, I never had real intentions of closing the position and take my target as I must do 1.3342.
Plus, I was posting the idea as the move confirmed it self, '' maybe it will go lower'' ....WTF does that mean?
I switched my Focus, from reaching my goal in $, to guessing and speculating on where price could go.
Thats where it all goes wrong. as the pair reaches 1.3342 low and moves back up to 1.3355. I reversed my position, even if signal was at high range of 1.3361. Not only that,
I increased my risk, from 1% to 2%, and was trailing a -1% loss.
once I realized that, I then took a short position, going for a 2:1 ratio spread, that would be a free trade around 1.3322 and aiming for 1.3372, Ok.
I was at least following the system somehow on direction. But then Price went back up over 1.3357 and then I closed my short.
Then I added one more long, now in position at 3% instead of 2% my system says to be. This has no reason to be other then greed. No new low to press, nothing pure greed.
And we are trailing a 20 pips loss on top of it.. one from initial straddle and one from failed anticipated scenario B trigger.
I was setting myself up for a Big fail. maybe one that occurs only 30 % of the time but still, And what had to happen happened. I bended the system, not waiting for the trigger to go off,..
And I had to take a 3% loss once 1.3341 was taken out,... making it a -5% without scenario B never been triggered. Unacceptable.
I know my intentions where good, BUT thats not part of the equations.
So then I took short for 20 pips, that should of brought us down to 1.3322, betting 3%, That one worked, and and brought me back to break even minus fees, -1.5% trailing loss.
And so...at this point I had:
left my target run away for the day by 1 or 2 pips.
Caught up anticipating scenario B before triggers went off, got faked out on that one also, then went against the system direction, still anticipating scenario B, and took the hit. -5% .
Then risking another 3%, I got back to even, BUT, if I exposed myself to a huge down fall.Still I did not hesitate to reverse my trade, thats the only good thing so far, and the ratio spread i took to regulate my position before. As we can see, I was not sure what I was doing. I was going about..... IT has to become more precise and objective. Just math.
Up till now, I was somehow following the system. And was at break even....
And then it just went down the drain from here: WTF happened? The next few trades from here where plain sabotage. Lets analyse them.
everything is going fucked up today...as I am sizing the moves...but I keep missing my targets.
Just close all positions on this possible rebound. ... damage control. created an unacceptable trailing loss.
break even and move out of the way..