Based on my experience one could imagine it’s gonna happen…
After a great month of April May came to put me in my place. I’ve managed to trade 4 times before my brain started working again and pulled me from doing further damage to my account. Lost twice as much as cashed in April.
The list of errors is quite embarrassing:
- emotional trading
- lack of stop loss
- changing the technique (hitting corrections into trend following)
- changing the timeframe (D1 into H4)
- attempt at “hiding” losses (didn’t post about those)
Everything clearly shown by lack of posts mentioned, as for the last transaction I just realized I don’t even have any historic screenshots saved…
The last trade was a short on EURGBP, overall I’ve lost ~274 pips in just 4 transactions this month – quite impressive, reverse Midas touch indeed 😉
Fortunately I’ve stopped before draining the account so there will be some more posts to come – conclusions:
- taking a break from trading at least until June (or maybe longer)
- rethink (again!) the baseline timeframe
- maybe more mechanical trading with hard SL?