I closed out the last trade at a loss because I was afraid that the trade will go sharply against me. Well, guess what? Price dropped back down, so I decided to put the trade on again.
Here is the 5 minute chart:
Click above to enlarge
What happened? I got nervous again and closed out the trade. This time here were 4 trades on the line.
I ended up with a -17.3% loss on this trade.
OK, this is just unacceptable. My P/L swings are too high and I am under too much stress during the trade. That has been leading to poor decisions and not being able to stay in the trade.
From here on out, I will be taking much smaller positions and not risking so much on these stacked trades!!
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