Closed all EURJPY longs at 119.57. I gotta go and clear my head, walk away from the screen for a while.
Closed $300/pip EURJPY at 119.57, for -76 pips, -18%.
The account is down to $119,347, only 17.8% up for the month after being comfortably over 100% up, in fact over 200% up on a couple of days.
This is terrible trading. Ever since the Italian election I’ve lost sync with my system rules. I’ve had barely 2-3 hours sleep a day, and yesterday I made the big mistake in my short entry for the EURJPY, disregarding my rules. Trying to correct for that poor entry, I’ve ended up losing more than I would have if I’d just taken the loss when I realised the error.
EURJPY is a bitch to trade – when it works well the profits are swift and big It gives a nice warm feeling of winning. But the flip side is that losses can also be swift and large, and it leads to great anxiety and stress. I should’ve used smaller order sizes on EURJPY.
On balance, it would be better to just make 50% a month and not have all this stress.