lesson on the feelings of the trader..

we were supposed to talk about bots but I prefer to take the opportunity to talk about something more important...

the previous post to this, I had provided a practical example of a trade, and it had gone quite well, and there was a trade still in progress, with entry at 2.42 -2.43, support at 2.40

well as you can see in theory it went great, the price skyrocketed to 2.52..

but then why didn’t I sell at the peak taking home a 2.5% profit? because I waited and now I’m at the support with a slight loss?

because of timing and feelings..

I’ll explain, simply I had commitments and couldn’t keep an eye on the chart, I noticed it had reached 2.50 due to an alert set at that figure.. but I hadn’t set any take profit, when I finally opened the chart we were in the blue area, more or less..

i didn’t sell because I was greedy, tempted by the previous peak I thought that if I let it run I would earn more ..

so I didn’t sell and I didn’t even set a take profit.. I simply closed the app and that’s it, but it doesn’t end here,

both last night and this morning I had to make a bit of mental effort to calm other feelings.. like bad mood, anger with myself, the frustration of having lost a couple of hundred.. the embarrassment of having messed up a very easy trade that happened to be one of the few made "public"..

these are things that happen, we are human and we have lives, it’s normal to be "distracted".. opportunities come back and money goes and comes, the important thing is to know how to overcome these moments by suppressing negative emotions, knowing how to forgive ourselves and above all the most important thing of all is not to blame others for our distractions and not to unload our bad moods onto friends, relatives or anyone else..

we need to have patience in trading, but not just patience in waiting for the right moments but also with ourselves, even with good techniques and good experience you will never be infallible..

until next time, we will talk about bots promised