Account Balance: $73,842.It's embarrassing to say, but I was one arrogant trader last night.
First, I traded the EUR/USD, looking at the 1-hour time frame. I didn't wait for the proper entry point (the RSI was above 50 but had yet to dip and rise), but I lucked out and watched the proft from that position grow to $1,500+. I took an actual proft of $850 when I lost confidence that the price would drop farther.
While I was on a natural high from my successful EUR/USD trade, I got the "brilliant" idea to look at another exchange and see what money I could make there. I selected the GBP/JPY because it didn't involve the EUR or USD.
Once again, I didn't wait for my proper entry point. I put in a sell order when all indicators pointed to neutral, and I got burned. Lost $2,000.
Clearly I'm having trouble shaking this habit of jumping the gun and veering from the strategy.
I read a great article on habits awhile ago that explains the re-wiring necessary to create and break a habit. Breaking a habit is harder than starting a new one "because while parts of those worn-in pathways can weaken without use, they never go away." The best I can do in my situation is create a new "pathway" that overrides the old one.
I'm flummoxed about what that new habit could be. In fact I'm not sure any habit can override my wishy-washy one. I think it's best to just simply keep calling myself out when I stray from the plan, regroup, and resolve to aim high in steering, aim long in trading.
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