Taken a beating in the market. I have unacceptable losses which mount into greater ones when emotion takes over the analytical brain and senses. Im not giving up but will take things at a slower pace.
For the time being, I should be posting sim trades under Oanda as i'm looking to familiarize with this platform, hopefully by mid-year. I hate to repeat that after slow and steady gains (seldom letting profit runs) it takes juz one day to blow it up.
Today i experience and encounter with the market (yet again) in such a way when, i sell - it goes up, i buy as it goes up - and then it goes down, and i join the ride - juz before it go back up, and then again. basically, i screwed myself.
Sometimes i wonder, in the most simplified terms, isn't market juz bi-directional? buy for it to go up, sell for it to go down. but it's more than that, u need to know the current market (volume and volatility), u need to know how much u are willing to lose, how much to take-profit, and when to close the shot when time's up when the trades when over time. these simply went out last night.
It's more than juz entering the market with plan. Can't deny the fact we're humans and instead of letting profit run, we let emotions run. Always need go through the hard way for me to realise these important overlooked factors.
Screw me, i'll take some time off and be back.