Bad Idea!! that’s all I can say:

Welcome back, If you have not yet found yourself in that situation, this is your chance to learn and to make sure it doesn’t happen to you. It happened to me because no one was looking out for me and no one really talks about it, everyone is interested in selling the beautiful story. This is how it goes. It is Monday, you start off your week with a bang, everything is going so well you are making some tangible pips, same thing happens on Tuesday, you make even more and as you make more you become more confident in such a way that you think to yourself “why not increase the lot size” of course you see it fit, you increase your lot size and wow!! it feels like the best decision ever. Wednesday you start feeling really confident now, you have to let your friends know how you are “killing it”, the feeling is so good you really cannot keep it to yourself.

The unthinkable happens:

You are so consumed by the pips you cannot even think straight, now the “profits only” mentality rules, you are no longer paying attention to your margin and your free margin, all you think about is your next pip, you cannot really take any loss, your account has moved incredibly from where it was on Monday, you have progressed a lot and now you are despising the most important things and you are only chasing pips,  all you are focusing on at this point is to make more pips so that you can close your week with a bang, and you can imagine it happening already. It is Thursday, you are operating on another level now , everything is on point,  everything is higher, your lot size is higher and so are the pips made,  you have made more since Monday till Wednesday without any losses, then you make a loss of just 30 pips on Thursday, it shouldn’t be a problem though to take a loss and walk away right? but no it becomes the most difficult thing to do, all you want to see at that point is nothing else but profits, you are even failing to see the bigger picture, you have made total of 100 pips since the beginning of the week so making a loss of 30 pips should not be really counted as a loss because you are already in profits, instead of closing the losing trade and walking away with your 70 pips and see on Friday, you become so obsessed and you want to trade more to make up for the loss, and that is too bad to even think about but unfortunately that is what comes to mind.

The end:

Then you go on and you place a trade using a higher volume (to cover up for your “loss”, so you think), then instead of making profit as usual, your trade goes against you and you make a huge loss, you are there watching it, and it is so hard to believe that it is really happening to you, but yes it is happening to you and the only feelings that you have are feelings of regret. Then comes Friday and you LOSE, you do not only lose the profits but the whole account, was it worth it though? no, I don’t think so, you were trying to plot some revenge by overtrading to make up for a “loss” which was not really a loss, and you ended up with nothing. It happened to me, do not let it happen to you. Being confident is good, but being overconfident is certainly not good in this market, less is more and what matters is moving your account from point A to point B, if you try to move from point A to point Z, yes you can do that, but also note that you can also lose that. Some things are not really good for your blood pressure. Rather be safe than sorry, learn to take a loss, walk away and keep your profits. The only way to be steady and sustainable is to “walk” slow, speed kills. Thank you for stopping by, kindly share the post and  do come around again.