Currency: AUDUSD
Date: September 1 2023
Time: 8:35 PM Philippine Standard Time GMT +8
Time Frame: 1 minute, 3 minutes, 15 minutes, 30 minutes, 1 hour, 2 hour, 3 hour, 4 hour.
Catalyst: Support and Resistance, Market Order Bubble
Type: SELL & BUY
Entry Price: 1.35205 , etc
Exit Price: 1.36024 , etc
Stop Loss: No Stop Loss
Volume: 0.01
Profit/Loss: -$17.98
One of the Dumbest Trade That I ever Had. Imagine Losing a $17.98(as calculated by all trades of AUDUSD) by the smallest volume of 0.01. I loss this big its because I'm Dumb(trying to loss all the money for the sole purpose of blowing an account). I don't know about my psychology that I have to blown an account first before I will become a profitable trader(sucks right?). As you can see I have a lot of entry and it means more volume. And the fucking reason I loss big is I don't have STOP LOSS and I played the MARKET. Imagine BUY and SELL in the same pair of currency(Dumbest move of a trader).I know $17.98 is not as big as $500 or $1000 but the fact is my Capital is only $53 which is a big loss(66% of account). What if my Capital is Big and Losing 66% in just 1 Trade(Fuck isn't it?). I'm one of the dumbest trader who wins SMALL and loss BIG(crap!). I have to change my psychology because sometimes I don't respect my trading plan even though most of it is a winning trade but still Im a loser because I easily exit when I profit and hard to exit when I loss. This is why I will not become a profitable trader unless I will change my psychology. This is a big lesson for me. I really had to change my attitude when it comes to trading because I have a Big goals but the psychology is so small and weak.
LESSON:
1. Don't over trade and open a lot of Entry. If you want to win big just make 1 entry but level up your volume but don't ever forget to risk only at least 2% of your total capital.
2. Use Stop Loss. This is very important because this will make you a humble trader. Because if you use stop loss not only it will help to protect your capital but it gives you a better psychology of "If you are wrong, your wrong). Accepting the loss is a strong mindset. Never let your Ego overruns you in the Market because it will kill you.
3. Respect your Trading Plan. If you don't respect your trading plan like your not exiting even though you hit your stop loss you're not respecting yourself. Respect yourself and you will become a profitable and a humble trader. Accept your losses, because in time it will harness your emotion and it will make you a better trader who has a strong mindset. Don't ever disrespect your trade or else you disrespect yourself.
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