The worst trade in 3weeks

I was late in a trade, that I was leveraged too much I was up 38pips(note I did not lock my 15pips in as I have all week, because I was late I should have locked in 8pips at the least then moved the rest to break even.
I was running only 1 monitor, so thought I had the 1min on cause I was flipping but actually had the 1hr on. The trade turned from a winnner to a loser in a few minutes and I was looking at the wrong chart. omg. lame.
ended up doubling down and lost more.
at this point I am only up 1% for the week. Really lame lost 7% or so on that trade. REALLY LAME.
Went from 8%up for the week to 1%.

Lessons from that trade
1. late entry, chased price
2. over leveraged
3. wrong charts- cpu not set up right
4. didn't scale- with price chasing i needed to scalp at 5pips then let the rest break even. it moved 38pips in my favor and i didn't even lock 1 cent in. 38pips would have been another 3% to my account. A total of 11% for the week, part time. What an idiot.
5. didn't have break in locked in with so many pips in profit.
6. doubled down without having a strategic place to do it without a final exit plan.

I have been really good about not chasing price for several weeks. I have made sure every trade was quantified. Till this lame duck. I was over leveraged, I have been pretty good about that as well counting pips not profit. Today I did it backwards and wanted the money not the pips. whamo. bad move. I need to focus on quality trades with setups, exit strategies and the pips. My monitors were not set up, my charts were not set up correctly, I cannot trade half cocked. Didn't scale. wtf, I have been so good with this, again part of this was greed, I was watching the dolllars go up not the pips and upcoming resistance. Scale. Break even. I didn't lock break even in since I was so many pips ahead, I though the trade would keep going and then when it went negative on my entry instead of exitting I kept saying to myself it was going to turn around any second. Finally doubled down, without understanding the entire trade already.
All in all i was the biggest idiot around. Left holding the bag with my teeth kicked in.

Lesson be a professional not some amateur douche holding the bag.



I need to recommit 100%
This week I am going to make sure I am around for every 'spot trade' at that special time.
This will mean I will not react to price. I will put in the research and if I have not put in the work will not pull the trigger. I need t0 recommit every day and each time I turn the computer on I will reread a set of rules before I trade. I am going to get a 3x5 card and tape it to my keyboard to read and reread through out the day. Part of the problem this week that I believe led me to this bad trade was I had to buy snag it, delaying my posts in this visual journal that focused on posting solid trades, that concentrated on good entries, and making pips. I also noted my spreadsheet timetable combo for my monetary goals which I was on track for this week. This bad combination led me to this chasing price cause I wanted money, not locking in profits as I said I would do once I was in profit cause of greed, then being an idiot when I didn't exit on breakeven or close and lastly being a bigger idiot by doubling down. This is truely the worst trade I have taken in a long time. what a loser.


This coming week I will keep the same size since I made the idiot mistake instead of aising it as I had scheduled. If I lose 5% anytime this week I will ratchet down to 1/3. If I trade succesfully this coming week by executing solid trades, post my trades, journalize my trades, then I will consider increasing my size the following week. trades
I will focus on quality trades with setups, exit strategies and pips. Profit is a by product. Pips are what counts. Money is all relative. I am a professional I will trade as a machine.