Thankfully we have the MTOPS Criterion as insurance against our self
Unfortunately we have to still deal with being human
Here are the 3 things I did wrong!
1) Last night I traded tired which made me sloppy
In being tired I rushed in to the trade without doing all of my checks
2) My arrogance from the current win streak also made me sloppy
As Conor McGregor will tell you, you're at your most vulnerable after a win
3) I traded within the accumulation zone (the red ring of death)
I hope you get to learn from my mistakes and save yourself from this in the future
Speaking to the -64% loss, it still isn't all that bad
On an account of $1000, we would have only entered 5% in to that trade
So of the $50, we would have lost 64%
Totalling a $32 loss or a 3.3% loss on total account
This is a good example of what happens, even when trades go wrong
We're protected
Unfortunately we have to still deal with being human
Here are the 3 things I did wrong!
1) Last night I traded tired which made me sloppy
In being tired I rushed in to the trade without doing all of my checks
2) My arrogance from the current win streak also made me sloppy
As Conor McGregor will tell you, you're at your most vulnerable after a win
3) I traded within the accumulation zone (the red ring of death)
I hope you get to learn from my mistakes and save yourself from this in the future
Speaking to the -64% loss, it still isn't all that bad
On an account of $1000, we would have only entered 5% in to that trade
So of the $50, we would have lost 64%
Totalling a $32 loss or a 3.3% loss on total account
This is a good example of what happens, even when trades go wrong
We're protected
